Matt Scully
Matt Scully is a reporter based in New York. He covers large banks and reports on complex financial topics, often related to the post-crisis recovery of consumer and mortgage credit. He tweets news often @scullymb.
Matt Scully is a reporter based in New York. He covers large banks and reports on complex financial topics, often related to the post-crisis recovery of consumer and mortgage credit. He tweets news often @scullymb.
Capital markets hold the key to the future for the consolidating Wall Street landlords, but the path through is downright bloody.
Freddie Mac in the next month plans to approve three more lenders, including one bank, to make multifamily loans between $1 million and $5 million for GSE purchase and securitization, according to an official. Banks were not initially courted.
American Homes 4 Rent, the largest publicly traded investor in single-family rental homes, has acquired a pool of properties from a subsidiary of Ellington Management Group, in what could be a sign of further consolidation in the industry.
As the real estate market ramps back up, lenders are looking for ways to diversify their portfolios, even if the returns are slim.
Marketplace lender Social Finance may pursue a larger initial public offering than expected, CEO Mike Cagney said. Progress in its mortgage business and a new lending app will be pivotal to the company's future, he said.
A bankruptcy court judge sunk investors' hopes in their latest lawsuit against Lehman Brothers, which they claim broke contracts in junk mortgage-backed securities sold during the bubble years.
Fannie Mae and Freddie Mac updated their representation and warranties frameworks in a move designed to encourage mortgage lenders to ease credit restrictions by limiting repurchase requirements.
The New York unit of Japanese securities firm Nomura Holdings may be three traders short after reportedly placing them on leave, but the firm is said to have muscled away a large auction held yesterday.
Ocwen Financial is making progress to settle allegations against it, but that does not mean it will be cheap, one analyst says. The current servicing freeze in the industry has grown so serious that some say it may be delaying the governments goals to expand the availability of mortgage credit.
Private investors backing firms like RPM Mortgage are placing bets on lenders in the U.S. home loan business once dominated by Wall Street's largest banks.