Capital markets platform Maxex adds to its C-suite as it grows
The two companies will retain ties as Daniel Wallace moves to an operational leadership position at a time when non-agency mortgage opportunities are opening up.
Servicing
Why one measurement of mortgage costs rose amid lower rates
Home prices are one driver. Other factors also have been exerting upward pressure on housing expenses that differ by region and lift the overall average.
Hurricane Helene’s damage estimate soars, tripling initial projections
Total insured wind and flood losses are predicted to be between $10.5 billion and $17.5 billion, according to CoreLogic. Earlier estimates placed the cost of insured damages between $3 billion and $5 billion.
More homeowners disaster-proofing homes, Freddie Mac finds
Awareness of disaster risk has increased in the public and private sectors, and it appears to be prompting more interest in home improvements in particular.
Fed’s large cut has complex effect on mortgages
Short-term rate cuts often don't immediately translate to lower financing costs for 30-year home loans, and there are some unique circumstances this time.
How short-term rental leases are changing non-QM securitizations
More "Airbnb-style" rental property loans are making their way into non-qualified mortgage securitizations and could they be acting differently from the traditional non-owner occupied loans, a Standard & Poor's report asks.
Homeowners see large gains in equity
Rising property values continue to buffer mortgagors against negative equity situations, Corelogic said.
Huntington expands corporate financing for mortgage companies
The bank has brought in mortgage industry veteran Ken Logan as senior managing director to oversee a broader range of financing it's offering to home lenders.
Fay Servicing gets CFPB penalties equaling $7 million over servicing law violations
Aside from a $2 million penalty for violating the servicing laws, but the order included told Fay Servicing to pay consumers $3 million in redress and make a $2 million capital investment updating its servicing technology and compliance management systems.
Wells Fargo commercial servicing sale makes Trimont a leader
The banking giant's sale of the non-agency, third-party portion of its commercial servicing business will boost the buyer's position in the securitized market.
Why non QM bids have been in a sweet spot for loan sellers
Investor demand for loans made outside the qualified mortgage definition can shift over time. It's recently been going through a period of particular strength.
Ginnie Mae reports strongest MBS issuance since September 2022
Issuance of new mortgage-backed securities guaranteed by Ginnie Mae has returned to levels last seen during the year monetary policymakers began raising rates.
Two Harbors adding new mortgage products, selling some MSRs
While the REIT still seeks to grow servicing, it's been willing to sell for the right price as it responds to new rate-related risks and opportunities.
Troubled Voxtur sells majority stake in Blue Water
Michigan-based University Bancorp is paying $30 million for a 50.5% stake in a business Voxtur acquired for $101 million in 2022.
Mortgage performance indicators change gears in two reports
Forbearance rose for the first time since October 2022 in one report. Delinquencies jumped from a near-record low in another. Experts debate the ramifications.
HUD floats permanent distressed-note sales program
The proposal would add reforms aimed at broadly prioritizing owner-occupant access and end the "test" or "demonstration" mode these sales have been in since 2002.
Are e-notes about to take off in private label RMBS?
A Rocket Mortgage securitization is the first private investor deal with a high share of e-notes, and the company is considering use with another loan product type.
‘Hidden’ housing costs ranked as biggest stress on mortgages
Property insurance and taxes account for over one-third of current loan performance risk, according to Auction.com's recent survey of default servicing leaders.
CFPB proposes new mortgage servicing rule to aid struggling borrowers
The Consumer Financial Protection Bureau has proposed requiring that mortgage servicers exhaust all efforts at assisting struggling borrowers before moving ahead with a foreclosure.
Americans’ debt reaches an all-time high, study finds
Household borrowing from mortgages and other loans hit a record, outpacing inflation, a study shows.
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