Finance

The government-sponsored enterprise is following through on resolving some temporary policies put in place to address contingencies around the coronavirus while unwinding others.

But the company was able to increase the share of its top line that came from recurring income streams while minimizing the impact of more volatile transactional-based ones.

Zanin, a former GE Capital executive, became chief risk officer at the government-sponsored enterprise only one year ago.

If approved, the new loan would unlock $120 million in badly needed funds for the sprawling Bronx multifamily complex.

The number of credit-sensitive borrowers who request alterations in their loan terms for income reduction could be a bellwether for loan performance as pandemic-related contingencies are rolled back.

Efforts aimed at modernizing outdated sets of PLS mortgage information could facilitate electronic transmissions and benefit lenders looking to broaden opportunities for secondary market sales.

If the minimum CE test or the delinquency test is not satisfied, then 100% of the scheduled and unscheduled principal will be allocated to the senior tranche.

While bullish on the future, CEO Anthony Hsieh noted that the company is “doing the necessary work to ensure our operations appropriately reflect our expectations for the changing market."

In addition to hinting at a March rate hike, the central bank this week announced an intention to have Treasury securities make up a greater share of its holdings, which has implications for securitized home loans.

New player Tomo is entering this niche while a trio of established players enhance their existing offerings for their third-party channels.

Esusu, a financial technology company that aims to help bridge the racial wealth gap by reporting rent payments to credit agencies, has become one of only a few Black-owned startups to reach a valuation of $1 billion after closing a Series B round led by SoftBank Vision Fund 2.

Multifamily and specialty finance loans, which were highlights during the fourth quarter, should increase further in 2022, company executives said.

Among the mortgage industry investors in the product and pricing engine provider are Movement Mortgage and First American Financial.

Performing and re-performing loans are in the pool, as well as fixed, adjustable-rate and step-rate loans, and fully-amortizing balloon and interest-only mortgages.

The company will leverage its diversified consumer-finance model while optimizing a traditional mortgage business with thinner margins as the business cycle turns, CEO Patti Cook said.

Due to the rollback in stimulus and uncertainties related to other mortgage policy measures and rates, servicers are moving into uncharted waters, according to a Fannie Mae economist.

Collateral characteristics are slightly weaker than previous deals, due to a higher proportion of loans underwritten to alternative income documentation.

Office properties account for 60.8% of the pool, above the 41.2% average for 2020 deals, and above the 36.5% average for 2021.

The change aims to streamline the processing of certain pandemic-related loan options that accommodate lower monthly payment amounts for borrowers with long-term economic hardships.

The researchers found that the disparities that emerged from the analysis of 1.8 million appraisals from 2019 and 2020 were statistically significant.