Capital markets

CEO Michael DeVito told attendees at the Mortgage Bankers Association’s annual convention in San Diego that the move is among the types of “cash-flow underwriting” updates the government-sponsored enterprise is considering.

The multichannel lender plans to expand its footprint in the non-agency market as a result of the majority shareholder investment in the company changing hands.

The problem loans mature right around when tenants in the offices are due to renew — or end — their leases. That may unsettle investors in commercial mortgage-backed securities, analysts at Moody’s Analytics warned this week.

The government-sponsored enterprise is instituting this stopgap measure as it examines how it can mitigate the growing risk of disrepair in aging condos.

The increase stops just short of restoring what was effectively a cut to the annual limit for 2021 under the Trump administration.

Two Wall Street firms and a single-family rental investor have purchased portions of the government-sponsored enterprise's latest nonperforming loan package.

The higher dollar amounts could be a way for companies to drive volume at a time when rates are increasing.

The $146 million deal could indicate that volume in the asset class has gotten large enough to support programmatic activity in the pricey housing market.

“I myself believe that the ‘substantial further progress’ standard has more than been met with regard to our price-stability mandate and has all but been met with regard to our employment mandate,” Fed Vice Chair Richard Clarida said Tuesday.

Kind Lending founder Gary Stearns told the National Association of Mortgage Brokers that the wholesale channel always feels the pain first in a slowdown and that changes were coming to the industry after a remarkable run, writes the chairman of Whalen Global Advisors.

Common Securitization Solutions has disbanded a group of independent board members originally brought on in early 2020 to look into using the government-sponsored enterprises’ platform to serve a broader market.

The purchase of home, mortgage and title assets for roughly $471 million in cash allows the buyer to expand into Houston, Dallas and San Antonio and increase its presence in Austin.

The acquisition of Sabal Capital Partners, which has been growing its footprint in commercial mortgage-backed securities lending, will help the Alabama bank build out its capital markets business.

Both third-party lenders will purchase conforming loans with balances of $625,000 — 14% higher than the current limit — in anticipation of regulators' action.

Neobanks and Fintechs have raised the bar in terms of client experience and expectations, forcing incumbents to break free and innovate. Now they are coming after the next generation, launching next-gen youth-focused offerings. Europe is leading this charge with nearly half of the startups based in the region. With the increased popularity and competition how are these neobanks finding different ways to market and monetize? In this session hear from Taylor Burton, co-founder of Till Financial on why there is a race to capture the next generation and how Fintechs like Till Financial is turning is a popular trend into a profitable business.

While PLS loans still represent a sliver of the overall mortgage market and are nowhere near the $1 trillion level seen before the Great Recession, issuance jumped markedly this year.

More than 19% of the related loans are early buyouts from securitized pools, and the deal is one example of growing bulk sales activity in the market.

The Federal Housing Finance Agency agreed to rework and improve procedures for regulatory communication about issues like servicing lapses in response to a recent inspector general audit.

Sara Avery previously worked for Common Securitization Solutions, which manages the issuance of the two government-sponsored enterprises’ bonds, including their uniform mortgage-backed security.

But the amount of forborne loans packaged into Ginnie Mae securities was up by 3 basis points on a consecutive-week basis, suggesting a concentration of distress there, amid broader declines.