Finance

CEO Michael DeVito told attendees at the Mortgage Bankers Association’s annual convention in San Diego that the move is among the types of “cash-flow underwriting” updates the government-sponsored enterprise is considering.

The multichannel lender plans to expand its footprint in the non-agency market as a result of the majority shareholder investment in the company changing hands.

The bonanza from Wall Street operations is a source of relief for banks struggling to earn more from traditional lending operations, which have suffered from lukewarm demand and a prolonged period of low interest rates.

The problem loans mature right around when tenants in the offices are due to renew — or end — their leases. That may unsettle investors in commercial mortgage-backed securities, analysts at Moody’s Analytics warned this week.

Earnings are up from the second quarter, but originations slip at Wells Fargo and Citi.

The government-sponsored enterprise is instituting this stopgap measure as it examines how it can mitigate the growing risk of disrepair in aging condos.

The increase stops just short of restoring what was effectively a cut to the annual limit for 2021 under the Trump administration.

The San Francisco bank reported a 26% increase in its third-quarter earnings, thanks to robust single-family, multifamily and commercial real estate loan activity in New York, Boston and its home city.

Two Wall Street firms and a single-family rental investor have purchased portions of the government-sponsored enterprise's latest nonperforming loan package.

The higher dollar amounts could be a way for companies to drive volume at a time when rates are increasing.

The $146 million deal could indicate that volume in the asset class has gotten large enough to support programmatic activity in the pricey housing market.

“I myself believe that the ‘substantial further progress’ standard has more than been met with regard to our price-stability mandate and has all but been met with regard to our employment mandate,” Fed Vice Chair Richard Clarida said Tuesday.

Kind Lending founder Gary Stearns told the National Association of Mortgage Brokers that the wholesale channel always feels the pain first in a slowdown and that changes were coming to the industry after a remarkable run, writes the chairman of Whalen Global Advisors.

The entire pool is comprised of fixed-rate, fully amortizing mortgages, with an average balance of $901,373. They are also first-lien loans.

One issuer says inclusion of enhanced reporting is the first step toward putting the entire RMBS platform on the blockchain.

In a recent note to clients, JPMorgan strategists including Nikolaos Panigirtzoglou noted that inflation surprises are likely to persist into 2022 as supply bottlenecks and commodity price rallies continue.

Common Securitization Solutions has disbanded a group of independent board members originally brought on in early 2020 to look into using the government-sponsored enterprises’ platform to serve a broader market.

The purchase of home, mortgage and title assets for roughly $471 million in cash allows the buyer to expand into Houston, Dallas and San Antonio and increase its presence in Austin.

The GSE comes to market with a pool that is less volatile than average Freddie Mac pass-through deals, plus below-average amortization.

The acquisition of Sabal Capital Partners, which has been growing its footprint in commercial mortgage-backed securities lending, will help the Alabama bank build out its capital markets business.