Securitization from Unlock and Saluda Grade with home-equity agreements; NewRez offers 40-year mortgages with interest-only option; Fitch to acquire dv01; DBRS adds Clarifii to its list of due diligence providers.
A higher-than-expected inflation reading for August led to volatility in interest rates this week, hurting the value of agency MBS. Still, the CEO of AGNC, a real estate investment trust focused on agency MBS, expects that concerns tied to the Fed will diminish by the end of the year.
While the Biden administration’s student loan debt forgiveness program doesn’t apply directly to borrowers with private student loans in ABS, prepayments on the loans are expected to increase.
Wells Fargo isn’t trying to be the largest player in the mortgage market. Instead, the bank plans to focus on wealthy borrowers and customers that already have a relationship with the bank.
Banks and thrifts saw another drop in mortgage banking income in the second quarter of 2022. Trends varied widely among banks, with some big players managing to improve earnings while others falter. (Includes one data chart.)
Home prices depreciated in July; foreclosure starts near pre-pandemic levels in August; mortgage rate locks continued downward trend in August; applications for mortgages on second homes fall to pre-pandemic levels; Experian allowing renters to boost their credit scores.