NYMT raises funds via notes to buy more residential assets
New York Mortgage Trust's 9.125% notes due 2029 may help fund new purchases of mortgages and securitizations in the private or agency markets.
Servicing
Hurricane risk will affect $11T of properties in 2024
Although experts are predicting an active season, actual damages could be lower depending on how many storms make landfall and where, Corelogic reported.
Zombie property apocalypse fails to materialize
Fears that foreclosures and abandoned property rates could spike once Covid-19 moratoriums ended have not come to fruition, Attom Data Solutions said.
FHA addresses pain point for servicers after court ruling
The Federal Housing Administration's clarification addresses interpretations of an 8th U.S. Circuit Court of Appeals decision that increased industry costs.
Servicers weigh hedging, other options amid a market facing rare challenges
Professionals also must grapple with the issue of wanting liquidity on assets in an era of low production.
Calls for Ginnie Mae modernization mount after FSOC report
A recommendation to give Ginnie Mae expanded authorities is drawing focus in the reactions to a Financial Stability Oversight Council report on nonbank risks.
How mortgage investments may evolve as bank share shrinks
Stakeholders are watching carefully as the 2023 crisis and a capital proposal increase banker wariness of mortgage assets, speakers at Invisso's MBS Forum said.
FSOC: Congress should boost Ginnie, FHFA nonbank authorities
The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.
Ocwen agrees to settle allegations over undisclosed fees
The company's attorneys had previously managed to successfully decertify the class in the seven-year long case, but the decision was reversed last year.
Delinquent mortgages rise year-over-year
But the number of properties whose mortgage is more than 90 days late is at its lowest since 2006, ICE Mortgage Technology said.
Ginnie Mae President Alanna McCargo to retire
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
Ginnie Mae issues warning about higher prepayments
The Department of Housing and Urban Development agency warned in an online notice that issuers with prepayments exceeding certain limits could face sanctions.
Mount Street appoints MD to new role in U.S. loan servicing
Dean Wheeler will drive the firm's growth push in the U.S. and follows the London firm promoting Serenity Morley to COO, to drive growth globally.
New Ginnie Mae MSR-related note transactions emerging
KBRA recently assigned low-end investment grade designations to Freedom Mortgage and Pennymac transactions that involve interests in Ginnie Mae mortgage servicing rights.
In Q4, lenders lost the most money per-loan ever recorded by MBA
The increase in production revenues was canceled out by higher expenses, a sign that too much capacity remains in the system, the Mortgage Bankers Association said.
Could NYCB be a mortgage servicing rights seller?
Many other organizations have turned to sales of this asset class in order to enhance cash flow or liquidity.
Ocwen takes a loss on servicing valuation changes
A rate drop was a common concern for some servicers during the quarter, and Ocwen recently took a step aimed at better addressing this risk in the future.
Loandepot hack leaked almost 17 million customers’ SSNs
The lender had previously revealed that personally identifying information from 16.6M customers had leaked, but hadn't offered these details.
Credit monitoring may boost borrower sales, performance
The majority of users are looking for new credit lines and others want to improve their scores. Credit monitoring by consumers may be a good indicator of both, Transunion found.
Last year’s non-QM securitizations have higher delinquency rates
Loan criteria such as credit scores, loan types and loan-to-value ratios are all weaker than those included in 2022 deals, Fitch said.
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