Limited housing supply hurt lenders’ efficiency metrics in 2018, according to a benchmarking study by Mortgage Cadence. The average time to close a mortgage increased sharply and pull-through rates declined.
A class-action lawsuit against the issuer of a credit card ABS has the potential to eliminate the preemption banks rely on when contributing assets to MBS and ABS.
The fintech company boosted its mortgage originations significantly in the second quarter. The online lender also recently raised $160 million in capital and formed a partnership to handle originations for Ally Financial.
An appeals court ruled in favor of Ocwen, finding that statements made by company officials were mere puffery that investors should not have relied on.
CEO Craig Knutson: “MFA’s reputation as a reliable buyer of residential whole loans and dependable capital partner has enabled us to source significant volume of whole loans, including transactions with limited competition.”