Finance

A mortgage program created by a 2015 partnership between the Federal Home Loan Bank of Chicago and Ginnie Mae has securitized over $1 billion in government-backed mortgages, the partnership announced.

Commercial banks typically compete with CMBS, but this Delaware state chartered bank is securitizing 30 floating-rate loans secured by 35 apartment complexes, retail and office buildings.

As mortgage brokers gain more leverage in the market, concerns about borrower poaching and retention are making channel conflict with lenders more prevalent.

With the exception of the troubled retail sector, delinquency rates across property types supporting commercial mortgage-backed securities were flat to declining in February compared with January.

Essent Guaranty is marketing $360.75 million of notes linked to the performance of a pool of residential mortgages that it insures; its following in the footsteps of Arch Capital.

Crossroads Systems Inc. has relaunched with the acquisition of a community development financial institution focused on the Hispanic mortgage market.

The Federal Agricultural Mortgage Corp. reported significant gains in new business volume, but also realized a big jump in 90-day delinquencies.

Over 40% of the collateral is from two 2016-vintage transactions that were recently "collapsed" because proceeds from liquidations had slowed. Then there's the exposure to Puerto Rico.

Tight margins, regulatory clarity and a renewed appetite to expand have made mortgage brokers and the wholesale channel attractive again, at least to the small and medium mortgage lenders.

The success of the government-sponsored enterprises' credit risk transfer programs shows that they can be the basis for housing finance reform.

Royal Bank of Scotland Group has agreed to pay $500 million to the state of New York after a $5.5B agreement last year with the FHA, and another probe is pending.

Commercial and multifamily fourth-quarter mortgage delinquency rates improved for most investor types compared to one year prior as the U.S. economy continued its recovery.

The $446 million Pearl Street Mortgage Company 2018-1 Trust is backed by 30-year, fixed-rate loans with credit characteristics in line with recent private-label prime jumbo transactions rated by Fitch Ratings.

Growing competition may prompt commercial mortgage-backed securities issuers to accept higher loan-to-value ratios in their deals.

LendingClub, Marlette and others are looking at additional changes to both their securitization and whole-loan-sale programs that could further broaden their investor bases.

The servicing business drove Nationstar Mortgage Holdings' fourth-quarter profitability and will be a major factor going forward after the company is acquired by WMIH.

Ocwen Financial Corp.'s acquisition of PHH Corp. will help the nonbank servicer rebuild scale that's been diminished by years of regulatory restrictions and the decline in distressed mortgage volume brought about by improvements in the overall housing market.

Participants at the Structured Finance Industry Group conference in Las Vegas say that future deals could be linked to the performance of jumbo, as well as conforming loans.

Credit unions favor housing finance reforms that would keep the government-sponsored enterprises or something similar in place, but add an explicit government guarantee to their mortgage-backed securities, according to a recent survey.

A $2.38 million loan Remax founder and former CEO David Liniger provided to the company's then-chief operating officer, Adam Contos, violated the company's code of ethics because its board of directors was never told about it, the company said as it announced it had completed an internal investigation.