An asset manager based in Toronto agreed to acquire Annaly’s commercial business. The REIT will put an even greater emphasis on its investments in residential MBS.
A 30-day average of SOFR would make a good replacement for LIBOR when pricing new MBS and ABS, according to a recommendation from a committee of industry participants convened by the Fed.
States hope to finalize standards for nonbank servicers despite strong opposition from industry participants. Details are still being ironed out, and implementation remains a concern.
A number of groups representing lenders and consumer advocates said the CFPB should abandon an effort to extend the QM patch beyond July 1. The regulator also faces hurdles involving the GSEs and federal rulemaking requirements.
With refi business expected to decline later this year, a number of shops are rethinking their hiring plans. Lenders are set to face margin compression, excess capacity and consolidation.
For the week ending March 30, the relief count dropped by 33,000 units. Key point: Forbearance starts fell to their lowest weekly volume (30,000) since the beginning of the pandemic…