Finance

The move suggests the government bond insurer doesn’t expect to see loan performance return to normal levels until next summer.

The technology could help firms that have had less access to automation and generally have conducted trades used to hedge loan pipelines by phone.

While overall volume was down in August, it remained historically strong, particularly in the securitized market for home equity withdrawal loans made to borrowers age 62 and up.

But refinance volume was constrained in recent weeks and many of the new offerings are aimed at low income borrowers, the Mortgage Bankers Association said.

The loan origination system provider, which launched an IPO on July 28, reported that its second quarter revenue and income grew 38% year-over-year.

The Loan Syndications and Trading Association alerts market participants to the challenges of term-SOFR transition before year-end.

The government-sponsored enterprises and their regulator are building on broader efforts by the Biden administration to close racial gaps in homeownership rates.

The government bond insurer allowed lenders to become “eIssuers” a little over a year ago, and the move contributed to a large surge in electronic notes this year.

Some progressive lawmakers argue the Federal Reserve’s deregulatory moves under Jerome Powell should disqualify him for a second term as chair. But the Biden administration could let him keep his job because of monetary policies that helped low-income workers.

The changes could help one of the Biden administration’s affordable housing goals, which is aimed at making wealth-building through owner-occupied, 2- to 4-unit properties more attainable.

Improved capitalization and smaller balance sheets should help several weather the likely consolidation that is coming, Moody's said.

Low pool concentrations of loans on properties located in Ida's path, plus robust property insurance are expected to rein in impacts and insulate noteholders.

The extension in the number of days investors are locked out of the process comes amid a broader push by the Biden administration to boost access to affordable housing.

A majority of the deal was underwritten to a less-than-full documentation standard, but meets ATR standards. Almost half of the loans are on California homes.

By some current measures, nonbank capitalization looks strong compared to banks, but the way a Ginnie Mae proposal aims to assess the value of mortgage servicing rights would change that, Moody’s Investors Service reported Tuesday.

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The deal appears to take advantage of a shift in federal rules reducing the level of non-owner-occupied loans Fannie Mae and Freddie Mac can purchase.

Even as lenders increased purchase share, higher expenses and margin compression related to pricing competition led to smaller quarterly net gains.

The digital provider of commercial mortgage closing documentation hired a Guaranteed Rate executive and announced plans to add staff and integrate more loan operating systems.

The proceeds from the trust’s certificates will refinance some CMBS debt, among other balance sheet uses.