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.
First Republic’s IO holdings had a weighted average loan-to-value ratio of roughly 56%, based on appraised value at the time of origination. The loans have credit scores averaging 762.
“The importance in having a well-functioning, transparent and liquid non-QM market is arguably growing by the day,” according to analysts at Keefe, Bruyette & Woods.