Secondary

The single-borrower deal, sponsored by Brookfield, was pulled in the spring due to market conditions that halted most securitizations at the onset of the COVID-19 outbreak.

Booming refinancing is expected to more than offset the tighter underwriting in second-quarter mortgage results.

A Detroit-based company, which owns Rocket Mortgage and Quicken Loans, listed the size of its upcoming offering in filing as $100 million, a placeholder amount that will likely change.

Tricon American Homes launches the fifth securitization since mid-May secured by loans that finance institutional ownership and management of single-family residential rental homes.

The number of loans going into coronavirus-related forbearance dropped for the third consecutive week, as the growth rate fell 8 basis points between June 22 and June 28, according to the Mortgage Bankers Association.

Reps called the offer "opportunistic" and said it did not address regulatory concerns regarding overlaps with Bill Foley's other businesses, Fidelity and Black Knight.

Guarantee fees became the main source of revenue for government-sponsored enterprises during conservatorship, and reverting to a private stockholder model could create a need for more revenue.

The $38.7 billion of equity withdrawn during the period was down 8% from the fourth quarter.

While the multifamily loan forbearance rate is lower than the most pessimistic projections, Pat Jackson says borrowers are hardly out of the woods yet.

The mortgage insurer is receiving $528 million of coverage in the event of defaults in a $44 billion loan pool.