Super-jumbo lender Thornburg Mortgage of Santa Fe, N.M., saw its stock plunge 46% on Tuesday after research firms raised concerns about its liquidity.Credit Suisse analyst Moshe Orenbuch cited "heightened concerns surrounding liquidity at the company" in connection with his downgrade to "underperform." In a research note, the analyst wrote: "As a result of rising funding costs, margin calls on its short-term funding instruments and the deleveraging of its balance sheet, we expect TMA will have to cut its dividend significantly." (TMA is Thornburg's stock symbol.) According to the Quarterly Data Report, the publicly traded real estate investment trust ranks 38th among residential funders. Its stock closed at $7.58, down 46% on the day, reaching a new 52-week low. Its 52-week high is $28.40.
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The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
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But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
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The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
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The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
April 17