Warehouse lenders

As part of its receivership of Signature Bank, the agency was given the stock to sell by June 8.

The moves include switching a $300 million servicing rights facility from failed depository Signature Bank to Flagstar Bank.

The migration of new financing for large Ginnie Mae issuers, from Credit Suisse to other firms, is a crucially important development for the mortgage market .

Other mortgage players this week have distanced themselves from the banking chaos with statements disclosing that they had no relationships with the failed companies.

NexBank will provide a line of credit of $200 million, $68 million lower than what it supplied in 2022.

The Cincinnati bank's new division will lend to nonbanks that make or bundle together residential mortgage loans, whose businesses have slowed as higher interest rates lower appetite for refinancing. The warehouse sector has seen "fierce competition" among banks lately, one analyst wrote.

The bank produced $1 billion less in originations while its gain on sale fell 49 basis points from the first quarter.

Despite that decline, the company notched its second-best quarterly earnings ever over that period.

The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.

The company's planned two-week halt on originations turned into more than two months on hiatus because of coronavirus-related market disruptions.