Secondary

The bank's second quarter production revenue was down 32% from the first quarter, even as volume increased 4%.

Single-family rental houses and townhomes underpin the securitization, with a feature to transfer or obtain a release of any property that meets conditions.

The Mortgage Bankers Association is advocating for more funding for the agency due to its elevated securitization activity, and counterparty risk linked to a lingering concentration of loans in forbearance.

Officials responded to a more elevated outlook for prices by penciling in two interest-rate hikes for 2023, according to the median of their projections, while seven of 18 wanted to raise interest rates next year.

The White House's firing of Federal Housing Finance Agency Director Mark Calabria sparked immediate speculation about who will run the agency and help chart the future of the two mortgage giants. Potential nominees include ex-Obama administration officials, congressional staffers and members of the Biden transition team.

The $16 billion Champion Mortgage portfolio sale follows Ocwen Financial’s purchase of different assets from MAM a few weeks prior.

The company is looking to sell 20 million shares, with a 3 million underwriters' option, at between $16 and $18 per share.

Even though the channel helped the bank do over $2 billion in business last year, going forward it will produce loans through the traditional retail business.

It is only a modest positive for new publicly-traded mortgage companies if acting Federal Housing Finance Agency head Sandra Thompson rolled back the caps put in place by the agreement with the Treasury.

Estimates suggest public funds in aggregate may be adequate to cover arrears and potentially keep many in their homes as the eviction ban ends, but may not be evenly distributed.