Brandon Ivey

News Briefs

July 24, 2020

Non-agency forbearance numbers increase; Redwood CEO calls on Fed to include non-agency MBS in TALF; Fitch revises rating criteria; Citigroup’s jumbo aggregator assessed as “average” by Moody’s; Chase brings risk-sharing deal on seasoned loans; Ocwen turns slight profit in 2Q.

Inside Auto ABS: Loan Extensions on the Decline

July 23, 2020

Brandon Ivey

Extensions on loans in auto securitization deals declined in May after peaking in April. The outlook on loan performance is uncertain.

Two Harbors’ Bid to Cut Ties with PRCM Lands in Court

July 23, 2020

Brandon Ivey

The REIT’s plan to terminate its management agreement with PRCM “for cause” would let it off the hook from paying a $144 million termination fee. But PRCM isn’t going down without a fight.

Applause (and Questions) Over Quicken’s 2Q20 Profit

July 23, 2020

Brandon Ivey and Paul Muolo

It’s one for the record books: A $3.55 billion second-quarter profit for Quicken parent Rocket Companies. But how did they do it?

Democrats Criticize Servicers’ Handling of Pandemic Relief

July 23, 2020

Brandon Ivey

At a congressional hearing, Democrats on a House subcommittee detailed instances where mortgage servicers provided initial relief for only 90 days compared to a 180-day mandate under the CARES Act.