Fixed income

Relying on retained earnings alone, it would be until at least 2036, if not longer, before government control of Fannie Mae and Freddie Mae might end.

Since CoStar made its revised offer in February, its stock price dropped nearly $177 per share.

The merger with Capitol Investment V values the title insurer at $3 billion.

As its mortgage origination volume delivered another quarter of strong earnings, Mr. Cooper’s banking on its "enormous backlog" of REO orders to generate further profitability once the foreclosure moratorium is lifted.

Bond bears appear to be having more than just a moment here at the start of 2021, with Treasury yields finally busting out of long-held ranges to levels last seen in the early days of the pandemic.

Just because the Fed is staying put doesn’t mean that mortgage rates, and prices of MBS, are staying put as well, writes Vice Capital Markets Principal Chris Bennett.

Today, the mortgage players who most actively hedged — Fannie and Freddie, real estate investment trusts and large bank servicers — have significantly reduced their need to to do so, analysts said.

After they reopened on Tuesday, Treasury 10-year yields rose four basis points to touch 1.25% — the highest since last March — while the 30-year equivalent pushed above 2%.

The best mortgage bonds to buy now may be the ones the Federal Reserve is purchasing, because the securities might benefit the most if macro optimism fades.

The offering went down to $14 from an anticipated $19 to $21 per share.

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.

But the company sees reasons to be optimistic about the second half of the year, CEO and Chairman Michael Nierenberg said during its fourth quarter earnings call

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

Pretax operating margins came in much narrower than what is projected for the three stand-alone underwriters.

This is the third nonbank mortgage company offering in a row to decrease its size, but the reductions were more severe than the others.

While it is looking for a higher price per share, the company will be selling fewer shares on its own behalf.

The former No. 2 at Countrywide had been battling brain cancer prior to passing away from the coronavirus.

The expected pricing range is between $19 and $21 per share if all 14.4 million shares to be offered are sold.

United Wholesale Mortgage is the third nonbank lender to complete the process of going public since the wave of announcements started last year.

A portion of the proceeds from the offering, announced days following its IPO filing, will go toward the repayment of its mortgage servicing facility.