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Many bank warehouse operations have been closed (PNC Financial Services) or have been "listed" for sale such as Bank of America and MetLife. For a bank to purchase a major warehouse lender the bank must have a liquid balance sheet and be able to support at a minimum of carrying the established warehouse line commitments of at least $1 billion (the estimated size of MetLife's operation).
February 9
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The Federal Reserve Bank of New York said Wednesday that it has sold assets with a current face value of $6.2 billion from its Maiden Lane II LLC portfolio through a competitive process to Goldman Sachs & Co.
February 8 -
PennyMac released 4Q earnings this morning and the big news wasn't its profit - which was decent - but the fact that it bought almost $1 billion of mortgages from other lenders via the correspondent channel.
February 8
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Fixed-rate mortgage rates hit all-time lows, spurring an increase in mortgage refinance loan application volume and as a result overall mortgage application volume increased 7.5% on a seasonally adjusted basis for the week ended Feb. 3, according to the Mortgage Bankers Association.
February 8 -
Trapped between conflicting requirements that indicate collapse and abolition prospects, the future status of Fannie Mae and Freddie Mac is emerging as one of the year's biggest concerns.
February 8
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A recent Moody's Investors Service report found that securitized commercial mortgage credit quality in the fourth quarter of last year was largely the same as it was in the previous quarter, but that there was a mix of risks and credit positives that produced that stability.
February 7 -
Multifamily's high delinquency rates relative to other property types stems largely from loans on rent-stabilized New York properties and other loans in this category have had had a better track record when it comes to performance, according to Fitch.
February 7 -
Although insurance conglomerate MetLife failed to unload its residential lending division, it has found a buyer for its warehouse business, according to industry officials close to the matter.
February 7
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Assured Guaranty has filed a lawsuit against UBS' real estate securities unit over breach of contract claims.
February 6 -
Risk appetite in the U.S. triparty repo market is slowly returning, according to Fitch Ratings in a new report.
February 6
