Secondary

Groups active in low-income and rural housing expressed frustration that the post-pandemic resumption of long-term goal-setting didn’t do more to raise the bar.

Issuance of capital market instruments aimed at protecting one government-sponsored enterprise from distressed mortgage credit events staged a relatively quick rebound in 2020, a new Federal Housing Finance Agency report shows.

With little transitional disruption, the bigger players on the non-agency side could gain a hefty share of non-owner-occupied mortgage volume as a result of Fannie Mae and Freddie Mac’s caps on such purchases, a KBRA analysis finds.

The deal was constructed under Angel Oak’s social-bond framework, in which the firm intends to use the proceeds to help finance residential loans for underserved borrowers.

The newly public company expects a 20% overall loss in adjusted earnings this year.

Stock prices for the four stand-alone MI companies have declined significantly since the start of May.

Guild announced the $196.7 million acquisition after reporting that it more than doubled its net income in the first quarter, compared to the last three months of 2020.

It’s getting easier to close bigger loans for higher-priced properties, but credit is expanding slower for first-time buyers.

Despite a 1Q decline in origination volume, Chairman Mat Ishbia is optimistic for the second quarter, saying the company received 17,000 more submissions in April's higher interest rate environment than it had in February.

Altisource Portfolio Solutions’ bottom line took a larger hit in the first quarter compared to Q4 2020, causing the company to cut costs.