Finance

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.

Revenue at the fintech company grew from prior periods without even taking into account any contributions from the Title365 acquisition at the end of the quarter.

Refinancing, high home prices, the concentration of pandemic-related hardships in the FHA market, and the lingering impact of last year’s market disruption all likely played a role in the intensified discrepancy.

The lending technology provider currently has 37,741 decisioning steps or pivot points on its platform.

The home purchase target for Fannie Mae and Freddie Mac would set a new 10% benchmark for qualified single-family lending in census tracts that meet certain demographic and income targets.

The wholesale lender has a cost structure aimed at beating the competition in a rising rate environment, Chairman and CEO Mat Ishbia said on the second quarter earnings call.

Depressed margins and a $219 million hit to its servicing rights fair value translated to a lower bottom line at the wholesaler.

Originations of loans to the self-employed and other outside-the-box borrowers had better margins than mainstream mortgages in the second quarter, but rebuilding after the niche market’s temporary disruption last year generated significant expenses.

Financial institutions will have until early October to weigh in about new risk-based capital requirements for nonbanks.

While the company's mortgage originations saw a 46% annual drop in gain on sale margin, it anticipates that annual volumes will exceed 2020 levels.

This year's assessment for Fannie Mae and Freddie Mac is the first to take into account a January agreement between the Federal Housing Finance Agency and the Treasury Department that allowed the companies to retain more earnings.