Finance

The legislation President Biden was expected to sign on Friday heads off an array of potential disruptions for the industry.

Net income declined by over 40% for both the quarter and year due to smaller gain-on-sale margins, but its servicing financials picked up.

Despite the current upheaval in pricing on the secondary market, the company sees its future in non-qualified mortgage production.

The first Senate-confirmed woman to serve as president of the agency wants to involve a wide range of borrowers and mortgage companies in its efforts.

Also named the chairman of Home Point, the onetime single-family EVP’s latest appointment is his third in the past two years.

The current program, which included more than 580 separate operations to buy Treasuries and 1,200 to purchase mortgage-backed securities, has dwarfed all three of the Fed’s previous quantitative-easing programs combined.

As independent mortgage bankers feel a liquidity pinch, portfolio sales such as the one being brokered by Mortgage Industry Advisory Corp. are likely to increase.

Last year’s issuance of securitizations for these non-conforming mortgages was the most since 2007.

Minus the adjustment made to account for stock price declines and goodwill, the company’s countercyclical mix of loan products was profitable, but secondary-market volatility presents a challenge ahead.

A nearly $1.9 billion commercial mortgage bond linked to a portfolio of office buildings owned by Columbia Property Trust Inc. and Allianz SE was delayed on Wednesday due to market weakness, according to two bond investors.