With a relatively high share of borrowers missing mortgage payments, investors in non-agency MBS are seeing reduced cash flows and, in some cases, losses. Though mortgage performance is improving, the outlook for investors remains uncertain.
Among the allegations: Low VA Rates advertised loan terms that it wasn’t actually prepared to offer. The agency said the nonbank has mailed millions of mortgage advertisements to consumers since January 2016.
After pulling back from correspondent lending during 2Q20 amid market volatility, New Residential sharply increased its loan purchases in the third quarter...
Pretium Partners and a unit of Ares Management will acquire Front Yard Residential in a deal valued at $2.4 billion. The move follows recent complaints from shareholders regarding mismanagement.
Industry trade groups are joining hands with nonprofits to develop an outreach campaign to address distressed borrowers who have avoided making contact with their servicers.