Investment banker Friedman, Billings, Ramsey has closed its mortgage-related asset-backed securities group.A spokeswoman for the Arlington, Va.-based company said mortgage ABS "is a small part of our overall business. It represents less than 2% of our total revenue." As of MortgageWire's deadline, she could not provide a number for its ABS issuance volume for the year. FBR also owns subprime lender First NLC Financial Services, Deerfield Beach, Fla., which ranks 21st among subprime lenders, according to the Quarterly Data Report.
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Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
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The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
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Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
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Better's home equity loan product can be originated in a week or less, the company says.
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The top five producers had an average dollar loan volume of more than $140 million in 2023.
April 23