Secondary

The shift to higher-margin home purchase policies helped to boost results at First American, Old Republic and Stewart.

Regulators should create a simple liquidity formula that allows the secondary market to function rather than using depository rules as a model, writes the head of Whalen Global Advisors.

While the unit saw a bigger increase in purchase volume compared to its competitors, net income, loan sales margins and total volume was lower compared with prior periods.

The Rhode Island bank endured a sharp decline in fee income from home loans, which had spiked earlier in the pandemic. But CEO Bruce Van Saun says the company is well positioned as the refinancing boom fades and the home purchase market becomes more important.

The cloud-based mortgage software company plans on trading on the New York Stock Exchange with a starting price of $24 to $26 per share.

The proposed acquisition comes just days after Better.com announced plans to buy London-based online loan broker Trussle Lab.

The software provider’s offering hit the top of its price range estimate and started trading at $18 per share.

The agency’s new chief said eliminating the “adverse market fee” — in place since December — will make it easier for families to refinance while mortgage rates are still low.

“One” is the first in a series of non-agency mortgages the wholesaler plans to introduce this year.

The new deal will remove manual bid taping and automate secondary loan sales directly on the Encompass platform.