Economy

Changes in rules related to repayment options and refinancing criteria have complicated servicers’ lives, but otherwise this crisis hasn’t been as bad as that of 2008, a Fannie Mae survey finds.

Commercial real estate portfolios have held up better than expected during the pandemic. But rising delinquencies and fears of a delayed economic recovery are renewing questions about credit quality.

President-elect Joe Biden’s team has held preliminary talks on how it could oust Fannie Mae and Freddie Mac’s regulator, a move that would let the new administration fill a post that’s crucial to the mortgage market and its goal of boosting affordable housing.

For some, including National MI and Essent, the improvement is taking place faster than expected.

The company is following in the footsteps of Michigan-based rivals Rocket Cos. and United Wholesale Mortgage.

A new path forward for digital banks and their customers.

The estimates in the Bureau of Labor Statistics latest numbers were only marginally higher than the previous month, which may reflect more deliberate hiring and a preholiday slowdown.

A slowdown in the increase of loans exiting forbearance “implies that those who were able to absorb the shock of the pandemic and get back on their feet, may have already done so,” said Andy Walden, Black Knight economist.

Fannie Mae and Freddie Mac’s underserved markets plans usually cover a three-year period, but their terms have been shortened due to the pandemic.

When the Uniform Residential Loan Application transition deadline hits on March 1, a data set within Fannie Mae’s Desktop Underwriter Program, which many lenders have used for a host of functions, will no longer be supported and unprepared lenders could later experience disruption.

With limited plan removals due to the holidays, mortgages in coronavirus-related forbearance rose by 15,000, according to Black Knight.

The reference pools of mortgages supporting the credit-risk transfer notes sold by Fannie Mae and Freddie Mac were 'generally lower' in delinquencies per newly issued monthly reports, says DBRS Morningstar.

The number of nonbank mortgage lenders who launched IPOs or merged with SPACs took off like a rocket in the second half of the year.

The river of red ink will likely begin to flow in the new year, due not only to the pandemic itself, but also to longer-term secular trends that have been accelerated by COVID-induced changes in the economy, says DebtX President and CEO Kingsley Greenland.

A real estate firm focused on gentrifying neighborhoods is showing cracks after a group of its apartment buildings in New York’s Upper West Side and Harlem filed for bankruptcy.

The switch to Thomas Cangemi from longtime CEO Joseph Ficalora could foreshadow a push to curtail the company’s reliance on multifamily lending and the pursuit of a bank acquisition that lowers funding costs.

Longtime chairman and CEO Joseph Ficalora will step aside Thursday as head of the regional bank and be succeeded by CFO Thomas Cangemi.

The top Democrats on the House and Senate banking committees urged the Trump administration to pull the plug on any steps to overhaul Fannie Mae and Freddie Mac with the pandemic still taking a toll on the economy.

Join Jim McKelvey, co-founder of Square as he offers his insights into where the Fintech industry is headed next year. Will a Biden administration insist on greater regulation? What will happen in the cryptocurrency markets? What will be the big IPOs in the sector? Will GooglePlex make a big splash? What new technologies or applications should we be expecting?

The nonbank lender is co-sponsoring a $258.4 million residential mortgage pool comprised entirely of wealthy borrowers with 15-year term contracts.