Finance

Freddie Mac continues to churn out steady financial returns, with the growth in first-time home buyers and credit risk transfers providing the GSE stable footing when a recession comes, according to new CEO David Brickman.

New Residential Investment Corp. took a $32 million net loss in the second quarter as it diversified its business lines and repositioned to protect its mortgage servicing rights from falling rates.

Angel Oak Mortgage Trust 2019-4 involves 1,551 loans, according to ratings agency presale reports. Nearly 84% of the loans have borrowers who do not meet the CFPB’s qualified mortgage standard.

Removing Federal Housing Administration-insured mortgages with natural-disaster forbearance from the agency's delinquency tracking database would give investors a less-distorted view of loan performance, according to the Community Home Lenders Association.

President Trump has signed the Protecting Affordable Mortgages for Veterans Act, which aims to address concerns that rules around certain VA refinances were impeding those loans' inclusion in secondary market pools.

Title insurers benefited from the increase in origination volume — especially refinancings — during the second quarter, as open order counts increased compared with one year prior.

Altisource Portfolio Solutions cut its previous-quarter net loss by 49% in its most recent fiscal period, when property maintenance revenue and new Hubzu real estate auction site inventory increased.

Waterstone Mortgage is now qualifying borrowers without a traditional credit history for both its conventional and government mortgage programs.

The incentives are stronger than ever to work toward standardizing the documentation, language and process for loans in commercial mortgage-backed securities to be combined with PACE financing.

MGIC reported higher-than-expected earnings, seen as a positive for the other mortgage insurers, plus Flagstar and KeyCorp had strong quarters for their mortgage businesses.

Jefferies is housing the initial round of $300 million in loans under a repurchase agreement with four lenders, as well as with the trust established for the transaction in Jefferies’ standing as the repo seller.

Pretax mortgage income at NVR Inc. surged 37% year-over-year in the second quarter while originations rose 1%, contrasting more tepid home-loan earnings results relative to originations at big banks.

An important traditional tool of monetary policy has been diminished and may even become counterproductive in the future.

Bank of America says rate cuts could reinvigorate mortgages and that its digital and cards strategies will help it grab more market share to offset shrinking margins.

The second quarter continues to shape up as a good one for bank mortgage lenders — and one ancillary service provider — that are benefiting from a spike in volume.

The Minneapolis bank reported growth across several lending and noninterest income categories in the second quarter, which offset net interest margin pressures and declining deposit service fees.

Wells Fargo and JPMorgan Chase recorded stronger mortgage originations in the second quarter as rates fell, but profits from single-family loans were lower than a year ago due to decreased servicing revenue.

Verus Securitization Trust 2019-INV2 is backed by investor loans secured by 1,042 rental properties. The loans were originated by 76 different lenders.

Occidental Management is sponsoring a single-asset, single-borrower deal through JPMorgan backed by the fee simple interest from receivables of a lease-buyback arrangement with Sprint Corp.

Despite a significant rise in first-mortgage production due to lower interest rates, profits from home lending in Citigroup's retail banking division fell slightly in the second quarter.