Secondary

The company, which earned $535 million in net income in 3Q20, has been prioritizing purchase volume and managing costs to account for a possible decline in originations next year.

For most of the underwriters it was a strong quarter, but concerns remain over government-sponsored enterprise reform and potential claims after forbearances end.

Under 2.9 million borrowers sit in coronavirus-related forbearance as GSE-backed mortgages drove the latest decrease, according to Black Knight.

The company is finding it challenging to ramp originations back up after spending most of the second quarter on the sidelines.

Mortgage rates are currently the lowest in the history of Freddie Mac’s survey, but sharp differences of opinion persist on whether that will make this a $4-trillion year or not.

Compared with the second quarter, the title insurer had 154,000 more orders opened and earned $89 per residential file.

Brookfield and JV partner Swig Co. are refinancing debt and cashing out $200M in equity in the iconic, sloped-base midtown Manhattan office tower.

One of the top banking regulators during the 2008 financial crisis could have a hand in nudging Fannie Mae out of conservatorship.

While Rocket reaches near $1 per share, Fannie Mae and Freddie Mac are seeing declines as their planned exit of conservatorship remains tied to the presidential race.

Smaller lenders should consider positioning themselves for acquisition at a time when they can be making the most money.