How do you get out of a debt bubble? Answer: Raise taxes and cut spending, something U.S. politicians have been loath to do. Or you could print more money...
The collateral is largely similar to previous deals from Starwood, though the use of additional lenders helped reduce the average seasoning time and increase the dollar volume.
The nonbank plans to hire nearly 1,400 employees by the end of the year. Several other lenders are also hiring as interest rates remain relatively low.
Quicken stands out among nonbanks rated by Moody's Investors Service. The rating service said Quicken's earnings potential is among the highest in the group.
Deer Park Road Management Company was fined for undervaluing non-agency MBS in a hedge fund. The action is aimed at discouraging artificially smooth performance reporting.
A House committee last week approved a bill that would extend deductions for mortgage insurance premiums through 2020. Meanwhile, the Senate is grappling with how to address various expired tax breaks.
The use of automated valuation models is set to increase, prompting concerns and some optimism among industry participants. The Dodd-Frank Act directed federal regulators to address the use of AVMs but that hasn't happened yet.