Capital markets

The REIT did not issue a securitization in the period because of the upheaval, but found a more receptive marketplace in July.

Mortgage companies will need to obtain and maintain relevant data on loans starting in March of next year even if they are only handling payment-related activity, according to the Federal Housing Finance Agency.

The new leaders named at the company highlight what appears to be some heavy recruiting from the ranks of executives who previously worked for a government-sponsored enterprise or a GSE joint venture.

The changes, which appear to be separate from a controversial nonbank proposal that's pending, will reduce red tape for credit unions and housing finance agencies and clarify a calculation for loans eligible for repurchase.

The company is withdrawing from consumer-direct lending and making other reductions given that widening spreads failed to offset savings from aggressive layoffs and gains in servicing advisory services.

The non-qualified mortgage company allegedly failed to follow through on approximately $38 million it contractually agreed to buy.

This pool was part of the government-sponsored enterprise's RPL3-2022 transaction but unlike the other two portions, it was not awarded in the initial announcement two weeks ago.

Net interest income was the driver, as increases from investments more than offset a decline related to its guaranty book of business.

The decline was driven by a $307M provision to cover potential credit losses, primarily from its single-family business.

The mortgage investor reported core earnings per share slightly below estimates and a loss in comprehensive income but may ultimately outperform competitors, analysts said.

Low-income housing tax credits that incent the creation of affordable apartment units have provisions that make buildings less susceptible to damage from natural disasters, but they’re not consistent, Freddie Mac found.

Earnings posted by the two bank holding companies show increased production on a quarter-to-quarter basis, although gain on sale sank at both.

But these expenditures are still expected to increase by over 10% compared to 2021, which is more than double the 5% historical average, the Joint Center for Housing Studies of Harvard University said.

The agency also put out a request for public comment on the role of fintech in housing finance.

Inflation and higher interest rates are hurting distressed borrowers, but low unemployment, remaining forbearance and loss mitigation options are still blunting their impacts, recent loan-performance numbers suggest.

Delinquencies are likely to rise if both interest rates and inflation continue their upward movements, a DBRS Morningstar report said.

The company looks to leverage its understanding of credit risk developed through its mortgage insurance and analytics operations.

The government-sponsored enterprises divested themselves of the largest share of these loans since they first began selling them in 2014, a Federal Housing Finance Agency report found.

The 18.5% increase in Fannie Mae's and Freddie Mac's purchase authority was the driver of a 41% decrease in higher balance originations between December and January.

The regulator's mortgage translations website offers the Supplemental Consumer Information Form in the six most-spoken languages in the U.S.