Capital markets

Rather than adding the option of using two rather than three prior to score updates, the company suggested the former functionality be added after or scrapped.

Like its competitor Fannie Mae, the enterprise's earnings were higher year-over-year but recorded a quarterly decline in part due to a legacy shareholder lawsuit.

High interest rates and constrained inventory will take its toll on originations and securitization activity in 2024, the rating agency commented.

Futurewave Finance was started by former FHLBank-Chicago executive Steve Thomas, as part of a personal mission to do more to help underprivileged communities.

The number of sellers it works with in the correspondent channel has grown due to pending capital requirements affecting larger depositories' interest in loans.

Even though it is less than two years since it allowed Fannie Mae and Freddie Mac to accept such valuations, it is difficult to evaluate their effectiveness without such examinations.

The company took another net loss but some of its numbers improved as it slashed expenses and prospects improved for distressed loan services.

News of President Chris Marshall's planned departure at year-end 2024 came amid reports of net servicing gains and the start of a capital raise for an MSR fund.

Though home mortgage issuance has slumped in line with originations, new potential bank capital rules and increased consumer debt consolidation could boost activity for these two subsets in the secondary market.

While the company's long-term issuer default rating has slipped a little, affiliates of Blackstone that have a higher one back the reverse mortgage player.