Secondary

The company's builder and mortgage banking segments both ended up in the black, as sales for new constructions outperform the existing-home market.

The Alabama bank reported that check fraud resulted in operational losses of $135 million between April and September, including $53 million last quarter. The entire banking industry has been beset by higher levels of check fraud since the start of the COVID-19 pandemic.

Though home mortgage issuance has slumped in line with originations, new potential bank capital rules and increased consumer debt consolidation could boost activity for these two subsets in the secondary market.

As part of its breakup fee, the Old Greenwich, Connecticut REIT will come away with an over 6% interest in its New York counterpart.

While the company's long-term issuer default rating has slipped a little, affiliates of Blackstone that have a higher one back the reverse mortgage player.

Unlike some banks that reported earlier, the subsidiary of PlainsCapital Bank saw its gain on sale decrease from the second quarter.

Questions about how it will be implemented and whether the rest of the market will follow the agency's lead make the expense involved difficult to estimate.

While on the positive side, Fannie Mae CEO Priscilla Almodovar said the loan defect rate has dropped 75%, she and Freddie Mac President Michael Hutchins noted that they're closely examining disruptive servicing transfers and standards for multifamily properties.

While the latest change applies specifically to COVID forbearances, the agency is looking at more options for alternatives that can be offered on a regular basis, Director Sandra Thompson said.

The government-related loan buyer also is looking into whether there are ways to offer options other than buybacks in some instances, said Senior Vice President Sonu Mittal, head of single-family acquisitions.