Mortgage bankers and brokers have been engaging in cautious hiring and they might want to remain careful about it given the complications the latest job numbers add to the rate outlook. At 266,700, nondepositories in the industry added an estimated 1,300 positions during the May homebuying season when compared to revised April numbers as total […]
Mortgage jobs, others inch up, as rate cut tensions grow Read More »
The conservator of two government-sponsored enterprises that buy and securitize many mortgages originated in the United States said he’s arranged some unusual talks between them to get their input on deregulation. “In following President Trump’s deregulation mandate, I ordered the executives of Fannie and Freddie to meet and provide me [with] regulatory changes,” Bill Pulte,
Pulte brings Fannie, Freddie together to talk deregulation Read More »
Fannie Mae and Freddie Mac unveiled a new strategy for their legacy joint venture, aligning with priorities set by President Trump and their federal overseer. Their Common Securitization Solutions JV will be renamed U.S. Financial Technology to reflect a new role in which it will sell access to the mortgage-backed securities platform used to manage
Fannie Mae, Freddie Mac revamp JV as fintech venture Read More »
Housing regulator Bill Pulte has instructed the two government-sponsored enterprises he oversees, Fannie Mae and Freddie Mac, to move toward recognizing crypto holdings without requiring conversion when assessing borrowers’ ability to repay, a move that could help bring digital currency further into the mainstream. He formally authorized this Wednesday and directed the GSEs to plan
Pulte pushes Fannie, Freddie to count crypto assets Read More »
JPMorgan Chase & Co. has bundled the riskiest portions of over a dozen Freddie Mac mortgage bonds tied to small balance apartment loans in what appears to be the first time this sort of debt has been securitized not once but twice. Known as a resecuritization, the deal pools together 18 bonds created by Freddie
JPMorgan re-packages bonds tied to apartment loans into new debt in rare move Read More »
Short-term market swings are nothing new but the kind of volatility mortgage lenders are dealing with today is driven less by predictable economic indicators and more by geopolitical tensions, trade policy shifts, and global headlines. While volatility has ticked up, it’s not at historic extremes. The CBOE Volatility Index, which measures stress in financial markets,
Mortgage pros share tips for riding out volatility Read More »
The outcome of previously-reported talks between Guild Mortgage and Bayview, a quiet servicing giant and asset manager, is a finalized acquisition valued at $1.3 billion that will transform the lender. In line with previous talks, a Bayview fund will buy outstanding shares of Guild it didn’t already own. The publicly-traded lender plans to go private
Guild, Bayview talks result in deal valued at $1.3 billion Read More »
Nondepository origination of home equity products has been growing as traditional mortgage opportunities have waned, leading to increased reliance on secondary market buyers whose interest may vary over time. And while investors’ collective involvement has generally kept pace with increased production as lenders have originated more second liens, volatility in broader markets has led to
How the secondary market is shaping home equity strategies Read More »
Loandepot announced a new source of funding collateralized by certain cashflows from mortgage servicing rights that will allow it to redeem other similar financing due this October. The private offering of term notes secured by MSRs has an aggregate principal balance of $200 million and is somewhat similar to other financing vehicles other large nonbanks
How Loandepot managed some MSR financing maturing this year Read More »
New York Mortgage Trust is staging a consent solicitation to support its latest move into what it considers the right mix and amount of less credit-sensitive assets and higher yielding ones. The company is asking for certain bond investors’ permission to exceed a maximum 8-to-1 debt-to-equity ratio it’s contractually obligated to ensure it meets on
NYMT seeks leeway on debt-to-equity ratio to fuel investment Read More »
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