Finance

Now that rates are up and originations are down, mortgage servicing rights can be an increasingly important source of cash and customers for lenders.

By property type, lodging assets led the way for total delinquencies, with 6.3%, while some 3.5% of the lodging pools were current and specially serviced.

Homes securing the portfolio produce an average monthly rent of $2,405, based on gross potential rent for vacant properties, and an average remaining lease term of eight months.

Securitization would have to see more cycles before the full effect of the COVID-19 pandemic becomes apparent, but loans backing multi-borrower SFRs show more sensitivity to rent collection disruptions.

The Secured Overnight Financing Rate is a concept in search of an actual forward market, writes Whalen.

Non-QM assets overlap almost perfectly with the portion of loans, 52%, financing properties where the borrower intends to maintain as a primary residence.

Production costs reached a high as secondary-market loan sale margins continued to decline.

The two latest transactions follow in the wake of the government-sponsored enterprise’s first deal of the year and the release of a finalized capital rule aimed at facilitating broader risk-sharing.

The company, which had been spun off to specialize in services for distressed real-estate investment vehicles, will acquire alternative mortgages and seek opportunities in crypto-enabled ATMs.

Federal Reserve Chair Jerome Powell said the central bank will take the “necessary steps” to get inflation down even if that means increasing interest rates more rapidly than currently anticipated and eventually to levels that slow the broader economy.