Mortgages and other credit products are producing significantly higher year-to-year revenues for Goldman Sachs. The firm said in its third quarter earnings that this boosted its net revenues fixed income, currency and commodities to almost $6 billion in the third quarter, compared to $1.6 billion during its "difficult" third quarter a year ago. The company as a whole earned $3.19 billion for the quarter, up from $845 million during 2008. However, quarterly investment banking revenues were down 31% year-to-year.
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Non-qualified mortgages account for 23.1% of the series 2026-7 pool, by balance, and 43.4% of the loans in the pool were made to investors for business purposes and are exempt from the Ability-to-Repay rules.
September 23 -
Besides promoting Sridhar Sharma to CEO from president, the company named Andrew Bon Salle, ex-Fannie exec, as its new chairman, both replacing Chris Marshall.
September 23 -
Several proposed updates, including lower risk-weight floors for certain securitizations and corporate loans, could make it more attractive for banks to finance or hold certain private credit-related assets, experts say.
September 23 -
Federal Reserve Gov. Michael Barr appears to be among the majority of monetary policymakers who foresee at least one more rate hike before the end of the year.
September 23 -
Several lawsuits filed this year have painted the shared appreciation agreements as misleading, and suggest they should be treated as mortgage loans.
September 23 -
Attom expanded its artificial intelligence platform, eLend partnered with Ready4Remodel to increase renovation financing and Keller Williams teamed up with Rejig.ai.
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