Secondary markets

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.

There are plans to incorporate the code into the Encompass eClose product, which will allow for secure storage of digital mortgages and notes.

The alternative minimum tax would challenge at least one influential nonbank and big depositories, according to a new Keefe, Bruyette & Woods report.

Net production income was down from its peak in the third quarter of last year, but it set a survey record for the period between January and March.

The former senior vice president and credit officer takes over the role that Andrew Bon Salle left at the end of 2020.

DeVito takes over on June 1, replacing interim CEO Mark Grier, who returns to his seat on the government-sponsored agency's board.

The transaction goes a long way toward the company’s goal to amass MSRs with a total unpaid principal balance of up to $150 billion.

The company provides a secondary market outlet for its retail and wholesale lending corporate sibling as well as for small balance commercial loans.

With little transitional disruption, the bigger players on the non-agency side could gain a hefty share of non-owner-occupied mortgage volume as a result of Fannie Mae and Freddie Mac’s caps on such purchases, a KBRA analysis finds.

While the product was hard to find after the start of the pandemic, the Consumer Financial Protection Bureau’s recent changes to Appendix Q are giving a pair of large wholesalers the chance to offer it as a qualified mortgage.

The company is shifting some of its conforming-focused call center resources not just into the growing non-QM channel but to Veterans Affairs products as well.

The real estate investment trust has been buying residential business-purpose loans from the company since 2017.

Fluctuating rules are redirecting some government-related loans to a disparate private market.

Loans bought on the secondary market have become increasingly important as borrower demand has ebbed and companies have sought to obtain mortgages through additional outlets to maintain production levels.

Only $89 billion of the $362 billion in new single-family volume came from purchase mortgages.

The Consumer Financial Protection Bureau has moved ahead with an earlier proposal to postpone the full adoption of the qualified-mortgage ability-to-repay rule, citing a need to maximize borrowers' credit access.

System updates, which may be a result of changes to the Preferred Stock Purchase Agreements, have Community Home Lenders Association members saying loans that were approved previously are getting rejected when put back through.