Finance

Depending on market conditions and demand from whole loan buyers, it could fund 25% to 35% of fix-and-flip loans through deals like the $219 million one it just completed.

Independent mortgage bankers lost the largest amount for originating a loan in the fourth quarter since this data has been tracked, as costs rose and volume dropped, according to the Mortgage Bankers Association.

At $230 million, GSMBST 2019-PJ1 is notably smaller than recent transactions from JPMorgan and Redwood Trust; borrowers also have less equity in their homes.

Lenders must do more to address the safety of borrowers' personal information as digital mortgage strategies spread and regulatory scrutiny increases.

Starting March 26, Senate Banking Committee Chairman Mike Crapo will hold two days of hearings on his plan for returning Fannie Mae and Freddie Mac to private ownership.

The Federal Reserve decision to shift into Treasuries could pull rates down and increase the prepayment speeds on mortgage-backed securities.

The 30-year mortgage rate dipped lower than it was 12 months ago for the third week running, according to Freddie Mac's latest report.

Ohio has become the latest state to start including mortgage servicing rights holders in its increased regulation of nonbank servicers.

The Federal Reserve will roll its maturing holdings of mortgage-backed securities into Treasuries starting after September, capping it at $20 billion per month.

Manufactured and modular home lender Tammac Holdings is using $60 million in debt and equity financing from its new majority owner to fund construction loans.

Two Harbors Investment Corp., which grew its servicing portfolio by 22% in the fourth quarter, priced a common stock offering to raise funds to buy more rights as well as mortgage-backed securities.

This week's deal will prime the pump for another $2.5 billion in loans Freddie Mac plans to securitize in the next two to three years.

Mortgage lenders' gain on the sale of loans to the secondary market has finally increased after several quarters of declines, according to Richey May.

Impac Mortgage Holdings saw its shift to predominantly originate non-qualified mortgage loans reduce its fourth-quarter GAAP net loss along with increasing its gain-on-sale margins.

The California banking company has two loans tied to DC Solar that are on nonaccrual status.

The Securities Industry and Financial Markets Association approved changes to its good delivery guidelines that ease the path to the government-sponsored enterprises issuing uniform mortgage-backed securities starting on June 3.

Falling interest rates contributed to efforts that helped Hovnanian Enterprises nearly halve its net loss during its fiscal first quarter, when it maintained a strong sales pace by selling more low-priced homes.

Agency mortgage-backed security prepayment speeds increased in February with much of the refinance activity coming from newer loans and those with high coupons, a report from Keefe, Bruyette & Woods said.

Mark Calabria, who could be confirmed as early as this month, is expected to focus on changes to Fannie Mae and Freddie Mac’s conservatorships to let the mortgage giants keep more of their profits.

Ginnie Mae could limit how much servicing income mortgage lenders can sell off through a transaction if they don't establish a minimum 25-basis-point spread at the portfolio level by next year.