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Brad Finkelstein is the originations editor of National Mortgage News. While he covers the entire process, Brad's specialty is loan production and its associated parts from lead development through … Read full bio
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Single-family mortgage real-estate investment trusts in the market for home loan assets face hurdles and selectively taking on leverage to keep buying.
Agency activity dropped off by 4% in September while non-qualified mortgage issuance was down 18% in the third quarter versus the prior period, BTIG said.
Given current rates are higher than the MBA and Fannie Mae forecasts, the industry could see further downside risk to the housing outlooks in October.
The Mortgage Bankers Association lowered its refi expectations by 5% this month, as rising mortgage rates are dampening borrowers' positions.
Rithm and UWM Holdings are the favorite names among publicly traded lenders, while BTIG adds coverage of Better Home & Finance at a buy rating.
