Number of non-agency mortgages in forbearance increases; Securent offering loan-defect insurance; Filo Mortgage launches jumbo offering; Lakeview Loan Servicing partners with Silver Hill Funding.
Nearly $4.0 billion of non-agency MBS with mortgages for investment properties was on offer in the past two weeks. Many of the deals are backed by GSE-eligible mortgages.
According to the Oakleaf Group, an analytics firm, governing documents for many non-agency MBS don’t include an explanation on how to calculate the fair market value...
Lenders are at the mercy of United Wholesale Mortgage’s pricing decisions, according to UWM’s president and CEO; Finance of America is seeing better returns from reverse mortgage lending than from traditional mortgages; the IRS released guidance on the Homeowner Assistance Fund.
Ocwen, which had plans to ramp up its clean-up calls of non-agency MBS, put the activity on hold following a pricing issue with Deutsche Bank, a trustee for the MBS.