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The deal is only the third post-crisis securitization of higher-risk manufactured housing assets, following deals in 2019 and 2020 that were sponsored by FirstKey Mortgage.
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In an analysis of the pandemic's impact on the housing market, the agency said nearly 10% of households could be at risk of eviction or foreclosure despite government programs to enable homeowners to delay their payments.
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The news became public as CoreLogic announced record revenues in its fourth quarter and full year earnings.
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Major secondary market players have been testing Fincity’s technology, which is in the final approvals stage with Fannie Mae and Freddie Mac.
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The mortgage giants were authorized to give just over $1 billion combined to the National Housing Trust Fund and the Capital Magnet Fund this year, the highest contribution ever. The amount reflects refinancing growth in 2020.
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Virtual events will continue to replace the large in-person gatherings for the foreseeable future, lenders in the Best Companies to Work for list say.
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Amid a wave of initial public offerings and acquisitions, originators with employee stock ownership plans say the underutilized company structure has helped with recruiting and retention in a competitive market.
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How mortgage companies with 500 or more employees stacked up against each other.
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How mortgage companies with between 100 and 499 employees stacked up against each other.
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How mortgage companies with between 15 and 99 employees stacked up against each other.
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