Brandon Ivey

Wells Reenters the Jumbo Correspondent Arena

February 4, 2021

A market maker in non-agency jumbos, Wells Fargo has reopened its cash window, at least by a crack or two.

Rise in COVID Cases Results in Poor Auto ABS Performance

February 4, 2021

Loan extensions on auto ABS increased for the third straight month in November amid rising coronavirus cases. Losses for investors could be around the corner, according to S&P Global Ratings.

AGNC Swings to Loss in 2020 But Bullish on Future

February 4, 2021

Brandon Ivey

One of the largest REIT investors in the MBS market took a loss of $266 million in 2020, with gains in the final three quarters unable to wipe out the red ink posted in the first quarter. Still, officials at AGNC are optimistic about the future.

As New Chairman Takes Over, NCUA Proposal on MSRs in Doubt

February 4, 2021

Brandon Ivey

The NCUA board in December voted 2-1 to allow federal credit unions to acquire MSRs from other FCUs. The lone dissenting vote came from Todd Harper, who was just appointed NCUA chairman.

A Wave of Forbearance Plans Scheduled to End. What Now?

February 4, 2021

Brandon Ivey

Close to 25% of mortgages in forbearance plans will hit the end of their relief period in March, with more expirations in April and beyond. Problem: Many of the borrowers in forbearance are delinquent.

A ‘Disruptor’ in the Mortgage Servicing Arena?

February 4, 2021

Paul Muolo and Brandon Ivey

Is the business of servicing residential loans in need of a mortgage technology shake-up? Should Black Knight and Fiserv be worried? Meet Valon.

Figure Affiliate Files $250 Million IPO with Plans to Acquire a Company

February 4, 2021

Brandon Ivey

Figure Acquisition Corp. I is planning to acquire a company involved in financial technology and financial services.

Short Takes: When the Primary-Secondary Spread Narrows... / A Nice Rise in New Business / All Backed Up: Non-QM Processing / PennyMac Feasting on EBOs / That Was Then, This Is Now

February 3, 2021

Paul Muolo and Brandon Ivey

Capacity issues at due diligence firms and other third-party service providers are slowing originations and loan sales in the non-qualified mortgage market...