Capital markets

The digital lender’s valuation ballooned to $6 billion from $4 billion less than five months after closing a $200 million fundraise.

The financial-technology firm Plaid is close to a new round of funding at a valuation of about $13 billion, almost three months after scrapping its sale to Visa, according to people familiar with the matter.

Securitization is a sound delivery model for any lender when combined with adequate research and preparation and it offers unique benefits, too — especially in terms of greater control and efficiencies, writes Black Knight’s managing director of pipeline analytics, James Baublitz.

But UWM says the provision is designed to protect against a broker double-locking the loan and is used by other lenders.

Volumes were at a record high in the final quarter of 2020 but lenders didn’t make quite as much since gains on loan sales to the secondary market fell.

The company is still searching for someone to fill the roll on a full-time basis, but the $600,000 annual salary cap may limit the candidate pool.

The government-sponsored enterprise announced Wednesday it will change eligibility criteria for vacation homes and investor properties starting April 1 to fulfill a directive by former Treasury Secretary Steven Mnuchin.

Progress toward replacement benchmarks, such as the Secured Overnight Financing Rate in the U.S. and the Tokyo Overnight Average Rate in Japan, has been sluggish, and there are hopes Friday’s announcement could accelerate the process.

The $16.9 billion in issuance marked the biggest annual number seen since the government-sponsored enterprise reconstituted its risk sharing program in 2013.

The former president of the private mortgage insurer is coming out of retirement to direct the bank's missions on affordable housing, community and economic development.

The agreement would generate $250 million in proceeds, which the nonbank mortgage company plans to use to pay down and refinance existing debt, while also investing in its servicing and origination businesses.

The deal definitively ends a monthslong war of words between the data provider and stakeholders who attempted a hostile takeover.

Now approved by Fannie Mae, the digital servicer aims to shake up the status quo by reducing costs caused by a “monopoly in the market.”

January’s excess return came in at a level well above the trailing average for the month, thanks in large part to a helpful hand from the Federal Reserve.

The fintech world is expanding at a sometimes breathtaking pace. Much of that growth is driven by venture capital, but how do VCs decide which companies to invest it in--or not? Join Greycroft partner Will Szczerbiak in a discussion with Olugbenga Agboola, the founder and CEO of Flutterwave, the San Francisco-based startup building the largest payments infrastructure in Africa. Guest host James Ledbetter, editor and publisher of the fintech newsletter FIN, will explore these questions: What are VCs looking for in a fintech startup? What are the hottest fintech sectors in 2021? How has the rise in fintech valuations affected the market? Where will growth be strongest in the next few years?

Issuance of securitizations backed by these loans is becoming more dependable, and Fannie will need more mortgages that finance newly-built energy-efficient homes to keep it going.

The transaction consisting of $24 million in securitized Ginnie pools followed a 265% jump in broader industry eNote registrations last year.

The Financial Stability Oversight Council could determine that a broad range of mortgage companies should be subject to “heightened prudential standards,” said Andrew Olmem, a partner at Mayer Brown and a former senior economic adviser to the White House.

The former president and CEO of GE Capital’s restructuring and strategic ventures group was named executive vice president and chief risk officer soon after the departure of Fannie EVP Andrew Bon Salle.

Upcoming changes to underwriting regulations, as well as the end of the QM patch, in addition to growing home values, all add up for this market to have a good year.