Secondary

JPMorgan Chase may be leading the next trend for banks seeking to shift risk away from their mortgage portfolios — if regulators give Wall Street the green light.

And the government-sponsored enterprises could hold initial public offerings in 2021 or 2022 to ensure they hold adequate capital, FHFA Director Mark Calabria said.

The American Mortgage Network name is being revived again, this time for a de novo company that will be 100% employee owned.

Such credits, which reflect borrowers with financial challenges, increased significantly during the third quarter.

Mortgage credit availability increased in October from the previous month, as mortgage lenders increased their product offerings outside the government market, according to the Mortgage Bankers Association.

Fannie Mae and Freddie Mac’s exemption from the Qualified Mortgage rule is on borrowed time, but a House bill would allow lenders to use the mortgage giants’ guidelines for documenting borrower income.

The sponsors of the Class A structure, deemed a “trophy asset” by Kroll Bond Rating Agency, are placing $825 million of a $1.2 billion whole loan into a transaction dubbed CPTS 2019-CPT.

The dollar volume of mortgages guaranteed by the Department of Veterans Affairs rose nearly 9% in the past fiscal year as interest-rate reduction refinancing loans surged nearly 75%.

Tom Marano, a former Bear Stearns banker, was apparently well compensated following the housing crisis for heading up ResCap and Ditech, both of which went into bankruptcy.

Impac Mortgage Holdings generated $1.4 million in net income during the third quarter in earnings that were favorable compared to a string of losses in the past year.