Brandon Ivey

Regulators Allow Banks to Delay Appraisals Until After the Loan Closes

April 15, 2020

For certain residential mortgages, including refis, banks can delay obtaining an appraisal for up to 120 days after a loan closes.

Short Takes: The Calabria Debate Continues / Salome? / Probably Not / MFA Selling Anything that’s Not Nailed Down

April 14, 2020

Brandon Ivey and Paul Muolo

Meanwhile, on Tuesday morning, S&P Global downgraded a handful of large nonbanks, including Mr. Cooper, Ocwen Financial, and Freedom Mortgage, which rank third, 13^th and 14^th, respectively among servicers, according to figures compiled by Inside Mortgage Finance...

Coronavirus Crisis Reshaping Lenders’ Best Practices

April 10, 2020

Brandon Ivey

Industry analysts suggest lenders sell loans quickly and use best-efforts pricing options to offset volatility caused by the coronavirus crisis.

CECL Standard Delayed for Banks, Nonbanks Waiting

April 10, 2020

Brandon Ivey

Banks have received two-year relief from the full impact of the new current expected credit losses accounting standard as they cope with broader impact of the coronavirus. Nonbanks are seeking similar relief.

Fed Adds Assets Eligible for TALF, Industry Pushes for More

April 9, 2020

Brandon Ivey

Following pressure from industry participants and lawmakers, the Federal Reserve added legacy commercial MBS and CLOs to the TALF. Industry is hoping that eventually non-QM assets might be covered.

Left Holding Loans Meant for MBS, Velocity Adjusts

April 9, 2020

Brandon Ivey

Velocity Financial raised capital by selling stock after plans to issue MBS were disrupted by volatility from the coronavirus. Several REITs also provided updates on their financials.