Secondary

Servicers of loans not related to the government most often capitalized missed payments and converted them into a deferred, non-amortizing balance, said Vadim Verkhoglyad of dv01.

The inaugural securitization includes 447 30-year loans with average balances of $863,206.

With independent title companies scoring the largest market share gain last year, the sector saw a 22% increase in premiums overall, the American Land Title Association said.

Inventories should keep shrinking, which is likely to drive higher returns on equity and reduce their loss ratios, a BTIG report said.

The new rules are disproportionate particularly in light of the GSEs’ recent record of profitability, the director of the Community Home Lenders Association writes.

The inevitable cancellation of the takeover transaction by China Oceanwide means Genworth will be spinning out a portion of its U.S. mortgage insurance business.

Banks can mitigate damage from slowing origination activity by putting excess cash to work, Keefe, Bruyette & Woods said.

Horizon Land Co. is securitizing a $488 million single-asset, single-borrower loan that will fund its purchase of 93 rent-site communities in the Midwest and Southwest regions.

The forward and reverse mortgage lender completed its merger with blank check company Replay Acquisition Corp. on April 1.

“Federal Housing Finance Authority Director Mark Calabria’s decisions to date are conservative and imply a slow death for the GSEs and IMBs operating in the conventional market,” analyst Chris Whalen writes.