Finance

Although the Federal Housing Finance Agency did move ahead with a controversial upfront charge aimed at covering commingled securities risk, it also committed to exploring alternatives that would address concerns from trade groups.

One of the secondary market alternatives the Federal Home Loan Banks of Chicago and Indianapolis offer has a new servicing partnership with PHH, and interest in further cultivating their community lending potential is growing.

Most distressed borrowers who obtained adjustments to their payment amounts saved more than 20% in the first quarter, according to the Federal Housing Finance Agency.

The move builds on the government-sponsored enterprise’s previous program that facilitated the collection of more rent payment records from tenants who work with its multifamily borrowers.

The package of Fannie Mae, Freddie Mac and Ginnie Mae MSRs has some unusual geographic concentrations and a nearly 2.63% delinquency rate, including foreclosures.

The Federal Housing Finance Agency is moving forward with the charge but also pledged to ensure it doesn’t undermine the uniform security’s advantages the way trade groups say it could.

JPMorgan Chase is laying off hundreds of home-lending employees and reassigning hundreds more this week as rapidly rising mortgage rates drive down demand in what had been a red-hot housing market.

Industry experts discuss evolving strategies in the hot MSR market as risks related to prepayments decline but concerns around credit and housing finance firms’ liquidity grow.

The agency eased rules regarding delinquency thresholds and reporting regulations through the end of June 2023.

If it works as intended, by calming inflation, it will help to keep mortgage rates low in the long-term.

Wells Fargo, U.S. Bancorp, Truist Financial and PNC Financial were among the banks that said they are raising their prime lending rates from 4.0% to 4.75%.

Unlike two years ago, when the surge of refinance loans created a vast pool of free financing for the industry to use, today lenders must pay for it by the drink.

Rising interest rates eliminated any refinance incentive for 30% of the loans analyzed by Standard & Poor's, marking a turnaround from the start of the year when prepay speeds were expected to increase

A new wave of interest in partnerships between investors and mortgage companies is emerging.

California has been more typically prevalent in other offerings, but this nearly $817 million package of rights to borrowers’ payments is one exception in a hot market limited only by capacity constraints.

Equitable housing initiatives the government–sponsored enterprises detailed Wednesday will rely on mortgage company uptake of experimental underwriting strategies.

Fannie Mae and Freddie Mac asked originators to resubmit applications that contained errors and adjust sold mortgage information due to incorrect life-of-loan representations and warranties.

The credit card issuer Synchrony Financial recently used FICO’s top competitor in a $1 billion deal. The choice is significant for VantageScore, but FICO remains the dominant credit score in the securitization market, according to analysts.

The inability to include both types together in standard loan pools has been one of the hurdles to the adoption of digital collateral.