Finance

While the first quarter is typically the weakest period for the title business, the sector benefited from strong refinance volumes that were driven by low interest rates.

While the product was hard to find after the start of the pandemic, the Consumer Financial Protection Bureau’s recent changes to Appendix Q are giving a pair of large wholesalers the chance to offer it as a qualified mortgage.

The company is shifting some of its conforming-focused call center resources not just into the growing non-QM channel but to Veterans Affairs products as well.

The real estate investment trust has been buying residential business-purpose loans from the company since 2017.

The company touted its investments in the wholesale channel while also reporting a slight quarterly drop in overall originations and gains on sale during an earnings call this week.

Fluctuating rules are redirecting some government-related loans to a disparate private market.

The company aims to use the additional capacity to get its non-qualified mortgage business back to producing $125 million per month, and anticipates more purchases of mortgage servicing rights, representatives said in its Q1 earnings call.

The 30-acre luxury retail development is among four investment-grade-worthy loans included in the multiborrower deal.

Loans bought on the secondary market have become increasingly important as borrower demand has ebbed and companies have sought to obtain mortgages through additional outlets to maintain production levels.

Short-term late payment rates rose again and later stage delinquencies remain at elevated levels compared to those prior to the pandemic, the Mortgage Bankers Association said.