Capital markets

The acquirer will use the liquidation of a residential mortgage company’s assets to move several notches up in the rankings.

In 2011 Congress paid for payroll tax relief by raising secondary market guarantee fees for 10 years. The Mortgage Bankers Association, and others, don’t want to see that happen again.

Regulators should create a simple liquidity formula that allows the secondary market to function rather than using depository rules as a model, writes the head of Whalen Global Advisors.

While the unit saw a bigger increase in purchase volume compared to its competitors, net income, loan sales margins and total volume was lower compared with prior periods.

The Rhode Island bank endured a sharp decline in fee income from home loans, which had spiked earlier in the pandemic. But CEO Bruce Van Saun says the company is well positioned as the refinancing boom fades and the home purchase market becomes more important.

The new deal will remove manual bid taping and automate secondary loan sales directly on the Encompass platform.

Those handling loan modifications anticipate a growing secondary market for loans in forbearance as they budget cautiously for additional alterations of regulations down the road.

The Mortgage Bankers Association is advocating for more funding for the agency due to its elevated securitization activity, and counterparty risk linked to a lingering concentration of loans in forbearance.

The company has seen business ramp up as servicers have sought additional help managing escrowed funds following last year’s refi boom.

The $16 billion Champion Mortgage portfolio sale follows Ocwen Financial’s purchase of different assets from MAM a few weeks prior.

Lending startup Tomo Networks will eschew refinances to focus exclusively on purchases.

Dozens of digital tools are billed as democratizing finance. But a number of entrepreneurs still see massive gaps.

The move is a vote of confidence for the private market in financing, which has been revitalized by limits government-related investors have put on certain loan purchases.

The financial services company will use its new capital to invest in artificial intelligence and machine learning to cut transaction times, as well as build its own servicing platform.

Evaluations for payment reduction still represent a relatively small share of home retention actions but their uptick could add incrementally to servicers’ workloads.

Errors created in the loan manufacturing process were partly responsible for the increase in 2020, according to an analysis by Aces Quality Management.

Investors appear to support the notion that lending to borrowers who don’t have traditional incomes could be a growth engine for lenders as other sources of volume weaken.

The Community Home Lenders Association’s letter adds to criticism of the changes made to the GSEs’ preferred stock purchase agreement and indicates that its mandates are proving tough to meet.

The move makes it easier for borrowers who don’t have standard W-2 incomes and those that do to get loans from the same outlets, and reflects broader trends.

The guidance addresses confusion related to how lenders should handle situations in which borrowers have not paid for a year and need additional help due to a natural disaster.