Finance

The company, which recorded positive comprehensive income based on unrealized RMBS gains, sees potential buying opportunities in bulk mortgage-servicing rights amid a wave of sales by Wells Fargo and others.

The company's mortgage operations posted a $24 million pretax profit thanks to servicing, while loan production saw a loss.

Adding pricing considerations tied to debt-to-income ratios, which frequently fluctuate, are destined to create problems with borrowers and internal operations, the Mortgage Bankers Association wrote.

Servicing was strong relative to some analysts' estimates, but thin margins and higher-than-expected expenses in originations reduced earnings for the fiscal period.

Industry headwinds led numbers at the software and data provider downward at the end of the year, but company leaders said the unit is positioned well for a market snapback.

Freddie Mac previously announced a similar change set to go into effect for mortgages with settlement dates on or after March 7.

Various affiliated companies participated in the creation of the transaction, including its publicly traded REIT, which owned a significant portion of the mortgages.

The Long Island company is closing 69% of the retail home lending offices previously operated by Flagstar Bancorp. New York Community recently acquired Flagstar for $2.6 billion.

The company reported its seventh consecutive quarter of record adjusted net revenue.

Average scores remain unchanged but signs of payment stress keep emerging, with Fannie Mae's serious delinquency rate up for the first time since August 2020.

The bank holding company is taking the business purpose lender into the corporate fold and out of its own silo, executives said.

Alanna McCargo, president of the housing agency, is fulfilling her pledge to halve the waiting time for reperforming loans.

The Federal Housing Finance Agency will be looking at the government-sponsored enterprises as a means of doing more to address renter affordability challenges.

Foreclosure prevention actions overall fell for the sixth time in seven months in October, according to the FHFA.

The Federal Reserve's quantitative-tightening program risks being propelled toward an early end as U.S. politicians bicker in Washington over raising the national debt limit, according to some economists and bond market participants.

The breaks for some lower-income borrowers are welcomed, but the use of debt-to-income as a differentiator could complicate originations at a challenging time, lenders say.

Currently, there's no standard mechanism for lenders to easily access this information.

The government agency is also allowing the use of certain alternative audit procedures to continue.

Updates will become effective on May 1 and a uniform mortgage-backed securities fee reduction will begin on April 1.

Both Silvergate and Signature banks, two of the most active crypto counterparties in the banking sector, received advances from the quasi-governmental lenders to offset falling deposits.