Finance

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.

Mr. Cooper Group took a net loss of $136 million in the fourth quarter after lower rates hurt the mark-to-market value of its larger mortgage servicing rights portfolio harder than its peers.

Hines Interests used the $755 million loan from Goldman and JPMorgan to take out a $505 million mortgage from two insurance companies, MetLife and New York LIfe.

New York regulators rejected Fidelity National Financial's acquisition of Stewart Information Services because the combination would have a dominant share of title insurance in the state.

American Mortgage Consultants has acquired title search outsourcer String Real Estate Information Services as part of ongoing efforts to support all the services secondary-market clients need to conduct trades.

Arch Capital Group named Michael Schmeiser president and CEO of its U.S. mortgage insurance business as the former head moved up the corporate ladder.

The new regulation, codifying requirements already in practice, is meant to help the mortgage giants prepare for the adoption of a uniform security in June.

Ocwen Financial reduced the size of its net loss by nearly half during 2018 thanks to cost-cutting measures, and economies of scale from its acquisition of PHH Corp.

CoreLogic's fourth-quarter earnings declined from the previous year because of the slower mortgage origination market and an $8 million impairment charge due to its restructuring plans.