Profits in the fourth quarter weren’t enough to offset losses incurred earlier in the year by Annaly and Two Harbors. Meanwhile, a REIT with a non-agency focus turned a profit.
Goldman Sachs, JPMorgan Chase and Redwood Trust ramped up issuance of jumbo MBS in recent weeks, while other firms in the sector have still not fully recovered from COVID volatility.
PennyMac Mortgage Investment Trust took a $108.4 million loss in the fourth quarter on CRT transactions; Ellington Financial and an affiliate of Caliber Home Loans plan to bring non-QM MBS to the market.
In January, loanDepot had plans to raise upwards of $362 million via an IPO. On Feb. 11, the offering priced with a reduced share price and fewer shares, generating $54 million.
Mortgage performance improved across the board during the fourth quarter. However, the forbearance rate has been stagnant since November, leading to concerns about foreclosures when moratoriums on such actions are lifted. (Includes data chart.)
Besides being fun to watch, Super Bowl commercials give a peek into what businesses are thinking. This year’s big game had ads from Quicken Loans and United Wholesale Mortgage.
The IPO would involve NewRez, the unit formerly known as Shellpoint Partners. Meanwhile, Ocwen has turned to Oaktree Capital Management for a cash infusion.