Secondary

With the return of volume and profitability to mortgage lending, it is no surprise that commercial banks are coming back to the market.

Terry Wakefield, a technology consultant who helped launch Fannie Mae's mortgage-backed securities business and form Prudential Home Mortgage, has died. He was 70.

Fannie Mae and Freddie Mac coming out of conservatorship and transitioning into public utilities would be the ideal for small mortgage lenders, according to trade-organization representative Robert Zimmer.

Mortgage companies that borrow heavily to keep their operations running may face financial pressure from coronavirus-related market volatility as it affects the valuations of collateral securing their financing.

The $400 million Toorak Mortgage Trust 2020-1 is the largest securitization to date for Toorak, which provides short-term institutional capital for individual and corporate real estate developers.

Temporary disruptions from the coronavirus shouldn't lead to consumers having lower credit scores because of missed payments, Democrats on the Senate Banking Committee are telling banking trade groups and regulators in two separate letters.

Mortgage lenders could benefit from the surge in refinancing due to widening market spreads, and that could help offset damage to servicing rights portfolio valuations, according to Keefe, Bruyette & Woods.

The 10-year Treasury yield fell below 0.5% and the 30-year yield dropped under 0.9%, taking the whole U.S. yield curve below 1% for the first time in history.

It's hard to overstate just how wild bond markets have gotten amid the coronavirus scare, forcing traders to rethink what's possible.

Altisource Portfolio Solutions lost nearly the same amount of money as it did for the whole year while it continued the business transition started in 2018.