Finance

Lender profitability rose to a high not seen since 2012 in the Mortgage Bankers Association's latest quarterly report despite some variability in revenue generated per loan.

The deal, issued through the California Housing Finance Agency, is the first multifamily tax-exempt deal to qualify for the GSE's Green Rewards program.

Blackstone Real Estate Partners is securitizing a new $343 million commercial mortgage that financed the parent firm’s recent acquisition of a portfolio of Southern California apartments.

Changing or eliminating the exemption to the qualified mortgage rule could harm consumers and put smaller lenders at a disadvantage to the big banks.

The Federal Housing Finance Agency has extended its deadline for investor comments on a proposal aimed at better aligning pooling practices for loans in uniform mortgage-backed securities.

There's been chatter that investors are shying away from Fannie Mae and Freddie Mac mortgage-backed securities because Congress may not enact housing finance reform. Be skeptical of those claims.

Lenders have bundled more than $18 billion worth of non-QM, private-label loans into bonds this year that they then sold to investors, a 44% increase from 2018 and the most for any year since the securities became common post-crisis.

JPMorgan Chase may be leading the next trend for banks seeking to shift risk away from their mortgage portfolios — if regulators give Wall Street the green light.

Such credits, which reflect borrowers with financial challenges, increased significantly during the third quarter.

The sponsors of the Class A structure, deemed a “trophy asset” by Kroll Bond Rating Agency, are placing $825 million of a $1.2 billion whole loan into a transaction dubbed CPTS 2019-CPT.

The dollar volume of mortgages guaranteed by the Department of Veterans Affairs rose nearly 9% in the past fiscal year as interest-rate reduction refinancing loans surged nearly 75%.

Tom Marano, a former Bear Stearns banker, was apparently well compensated following the housing crisis for heading up ResCap and Ditech, both of which went into bankruptcy.

Impac Mortgage Holdings generated $1.4 million in net income during the third quarter in earnings that were favorable compared to a string of losses in the past year.

The two newest private mortgage insurance companies had their best quarters ever for new insurance written, aided by the increase in consumers refinancing with less than 20% home equity.

Zillow Group reported third-quarter revenue that beat estimates as growing sales in its online marketing and home-flipping businesses sent shares higher in late trading.

In the latest example of a new wave of mortgage-related fintech investment, Snapdocs will boost its artificial-intelligence capabilities with its new $25 million funding round.

Black Knight and PennyMac Financial Services are suing each other in separate disputes linked respectively to the latter's creation of a servicing platform and the former's dominant position in the market.

An increase in credit risk transfer activity since 2015 signifies a sea change for private mortgage insurers that may be about to intensify, according to an industry trade group.

Ocwen Financial's cost-cutting initiatives are bearing fruit toward returning to profitability, management said, although the company's third-quarter loss was slightly higher than the same period one year ago.

Sixty percent of the loans were underwritten with just 12- or 24-month bank statements, according to ratings agency reports.