Angel Oak REIT Scales Back IPO Offering June 17, 2021 Brandon Ivey and Paul Muolo Originally, the Atlanta-based firm, hoped to sell 8.05 million shares of common at a range of $20.00 to $21.00 per unit.Read More
Lenders Forecast Dim Profit Margins, Staffing Issues June 17, 2021 Brandon Ivey Though demand for purchase mortgages is increasing, it is nowhere near levels sufficient to make up for the decline in refi activity, say lenders.Read More
The Non-QM Drought is Over. Three Deals Hit the Market in a Single Day June 17, 2021 Brandon Ivey Feeding the non-QM MBS machine: affiliates of Angelo, Gordon & Co., Invictus Capital Partners and Shelter Growth Capital Partners...Read More
Grapevine: A Rare Type of M&A / SoFi’s Mortgage Aspirations June 17, 2021 Paul Muolo and Brandon Ivey Nonbank Cornerstone Home moves to buy an FDIC-insured institution. Also, should anyone be worried about SoFi’s progress in mortgages?Read More
GOS Margins Get Squeezed. The First Victim: TPOs June 16, 2021 Brandon Ivey Lending through third-party originators, particularly wholesalers, has experienced the most margin compression, according to Baron Silverstein of NewRez...Read More
Lenders: Risk-Retention Link Between QMs and QRMs Should Stay June 16, 2021 Brandon Ivey The feds were slated to start reviewing the rules in 2020 but put the examination on hold pending the revision of QM standards.Read More
Short Takes: Fifth Third’s Warehouse Chief / Still Searching / A Disruptor’s IPO / Facebook Executive Gets a Board Seat / Applications Rebound / TowneBank’s New LO Hire June 16, 2021 Paul Muolo and Brandon Ivey From what we understand, Fifth Third continues to search for warehouse talent...Read More
Home Mortgages Playing a Larger Role at SoFi June 15, 2021 Brandon Ivey In 1Q21, the San Francisco-based SoFi originated $735.6 million of mortgages, accounting for 28.9% of total loans produced.Read More
Nomura to Issue its First Warehouse Funding Securitization June 14, 2021 Brandon Ivey Initially, the securitization will facilitate originations by Finance of America Mortgage and Quicken Loans...Read More
Short Takes: Gaining Traction: Ginnie MSR Auctions / A Hike in Underwriter Fees? / AGNC’s Stock Maneuver / CS Extends Line to Nonbank / Additional Duties for Goodman June 14, 2021 Paul Muolo and Brandon Ivey HomeLight, a financing company that allows homebuyers to make cash offers, recently received a $100 million credit facility from Credit Suisse…Read More