Finance

Despite dearth of new loans, retail investors' exit from loan funds provides CLOs with new-issue supply.

Federal Reserve Governor Christopher Waller said he favored more monetary policy tightening to reduce persistently high inflation, although he said he was prepared to adjust his stance if needed if credit tightens more than expected.

Mission-driven entities will have priority on 50% of loan pools secured by Home Equity Conversion Mortgages.

Chase, Wells Fargo both reported increased gain on sale margins in the first quarter over the fourth, a potentially promising indicator for upcoming IMB earnings.

The firm reported $13.3 billion in NII in the first three months of the year, up 45% from a year earlier and more than the 42% jump analysts expected. That gain helped counter a surge in provisions for souring loans.

Truist Financial Corp. plans to stop sales and trading of mortgage-backed securities and government-agency and Small Business Administration bonds by January.

Two-year Treasury yields slid a percentage point over three days in March, the most since 1982. Gone are the days when inflation was the main menace.

The agency added increased emphasis on loss mitigation and special purpose credit programs following heightened calls for more participation in the latter from a minority trade group.

The five-year notes benefit from overcollateralization equal to 35%, and will use the proceeds to repay a line of credit facility.

The inspector general linked the problems to staff turnover and recommended improvements to policies around documentation that the housing agency agreed to make.

While finding investors will likely be more difficult, the long-term outlook remains solid for more established companies, industry experts say.

Convicted former MBA Chairman Ron McCord and his Oklahoma-based company settled CapLoc's allegations that they put fraudulent loans on a funding line.

In total, around 98,000 loans with a principal balance of $31.8 billion are in the cover pools for the two new insurance-based transactions.

The primary cause is agency put-backs and fixing the problems is difficult in a rising rate environment.

The company shifted $189 billion of agency mortgage-backed securities to held-to-maturity on its balance sheet, shielding its shareholder equity from unrealized losses.

For many, rates could be higher, but borrowers with lower down payments and credit scores could get new government-sponsored enterprise discounts competitive with the FHA's lower premium.

The migration of new financing for large Ginnie Mae issuers, from Credit Suisse to other firms, is a crucially important development for the mortgage market .

The bank's broader challenges, which include a run on deposits and difficulty selling loans without realizing losses, could affect the rating agency's assessment of its servicing.

The use of the Federal Reserve's emergency lending facilities was largely unchanged this week, indicating to some that the recent liquidity crisis isn't getting any worse.

The agency, which oversees government-related investors that set underwriting parameters in the U.S. mortgage market, estimates the process will begin in 2024.