Secondary

But UWM says the provision is designed to protect against a broker double-locking the loan and is used by other lenders.

Volumes were at a record high in the final quarter of 2020 but lenders didn’t make quite as much since gains on loan sales to the secondary market fell.

The San Diego-based company produced $10.6 billion in the fourth quarter, and has done $6.1 billion in the first two months of 2021.

A PIMCO-sponsored HELOC securitzation, as well as a mortgage-insurance linked transaction, are the latest examples of issuers getting a head start on switching to an expected replacement benchmark for Libor.

Also: How 9.3 million renters could enter the purchase market, lessons from Flagstar’s data breach and a possible 15-year plan for Fannie and Freddie.

The delinquency rate on regional mall commercial mortgage-backed securities was 22.9% in February, the highest of any real estate category, according to Moody’s

Relying on retained earnings alone, it would be until at least 2036, if not longer, before government control of Fannie Mae and Freddie Mae might end.

New assistance for renters may help but past efforts, while necessary, failed to get relief to renters in an expedient way, said David Brickman, who is now the head of a new agency lending platform backed by Barings and Meridian Capital.

The Blackstone-affiliated company recently took out a cash-out refi mortgage for a 17-property portfolio, an opportunity aided by high demand for its R&D facilities for COVID-19 research.

The company is still searching for someone to fill the roll on a full-time basis, but the $600,000 annual salary cap may limit the candidate pool.