Finance

A $28.8 billion rise in multifamily debt made up 65% of the $44.6 billion quarter-to-quarter gain, the Mortgage Bankers Association reported.

The move makes it easier for borrowers who don’t have standard W-2 incomes and those that do to get loans from the same outlets, and reflects broader trends.

The guidance addresses confusion related to how lenders should handle situations in which borrowers have not paid for a year and need additional help due to a natural disaster.

There are plans to incorporate the code into the Encompass eClose product, which will allow for secure storage of digital mortgages and notes.

More than two-thirds surveyed said they expect to make less money over the next three months as price reductions ramp up along with a market shift to purchases.

The $1 billion mortgage securitization is smaller than several recent deals, and features modified mortgages. But subordination supports senior notes.

The transaction, FSMT 2021-4, is one of the trust’s largest deals in the last several years. Half of the mortgages are on properties located in California.

The alternative minimum tax would challenge at least one influential nonbank and big depositories, according to a new Keefe, Bruyette & Woods report.

Net production income was down from its peak in the third quarter of last year, but it set a survey record for the period between January and March.

While there was a small uptick in missed payments for multifamily loans, the rate remained in the same area it's been at for the last year, according to the Mortgage Bankers Association.

The digital title insurance, closing, escrow, and recording services provider has now raised a total of $110 million in funding.

Federal Reserve Vice Chair Randal Quarles has made it clear that banks failing to make the transition away from the benchmark rate could face supervisory consequences.

The steady pace of refinance activity has also continued, as borrowers seek to take advantage of sub-3% rates.

The former senior vice president and credit officer takes over the role that Andrew Bon Salle left at the end of 2020.

DeVito takes over on June 1, replacing interim CEO Mark Grier, who returns to his seat on the government-sponsored agency's board.

The company, on the cusp of going public via a merger, recently added Wells Fargo to its client roster.

The cloud-based mortgage closing platform’s Series D round earned $150 million for the company.

The transaction goes a long way toward the company’s goal to amass MSRs with a total unpaid principal balance of up to $150 billion.

The company provides a secondary market outlet for its retail and wholesale lending corporate sibling as well as for small balance commercial loans.

Issuance of capital market instruments aimed at protecting one government-sponsored enterprise from distressed mortgage credit events staged a relatively quick rebound in 2020, a new Federal Housing Finance Agency report shows.