S&P says VantageScore 4.0 could work for MBS ratings
Standard & Poor's found modeled foreclosure frequency and loss coverage to be in similar ranges as classic FICO but showed concern about potential bias.
Mortgages
Splitero’s home equity investment contracts back $275 million in ABS
The cumulative advance rate on the notes include range from 68.5% and 87.7% on the A1 notes and A2 and A notes, respectively.
Foreclosure filings up 18% from a year ago
Foreclosure filings were reported on 42,430 properties in the United States last month, down 8% from the month prior but up 18% from a year ago.
BNY and Snapdocs announce digital mortgage document handling initiative
On an end-to-end basis, the joint initiative delivers collateral without relying heavily on manual transfers as loans are settled, then transferred between institutions.
Household debt at a high, risks lurk beneath stable arrears
Serious delinquency transitions in older mortgages inched up, hinting at the impact of an FHA rule change's impact in conjunction with other stressors.
Two Harbors rejects UWM’s hostile $12.50 offer
The announcement comes following an Institutional Shareholder Services report which urges shareholders to vote no on the CrossCountry Mortgage transaction.
End of FHA pandemic relief to kick off wave of foreclosures
The Federal Housing Administration put an end to pandemic-era relief last year, triggering a 28% jump in foreclosures on FHA loans in the first quarter and an expected spike in defaults ahead.
Mortgage credit availability drops for first time this year
The Mortgage Bankers Association's Mortgage Credit Availability Index declined 0.4% to 107.9 in April after reaching a three-year high in March.
NewRez parent Rithm Capital prices note offering
Two other nonbank mortgage firms also recently got in position to raise capital while NVR, a builder and lender, added new authorization for share repurchases.
Economy added 115,000 jobs in April despite mixed signals
Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface.
Mortgage rates rise, but there are signs of moderation ahead
The 30-year fixed spiked earlier in the week, but fell as Middle East news helped to drive the 10-year Treasury yield lower by 9 basis points by Wednesday.
Iran conflict sours real estate investor sentiment to 3-year low
The percentage of investors who view the market as better than it was a year ago fell to 36% from 45% in the winter, according to a spring survey.
UWM posts strong Q1 in the midst of Two Harbors battle
The company turned a GAAP profit of $170.4 million for the quarter, with its volume and margins relatively flat compared with the fourth quarter of 2025.
PennyMac 1Q profit falls as servicing drags on results
PennyMac Financial Services reported $82.3 million net income, inclusive of a $44 million net reduction related to servicing fair value and hedge losses.
HECMs lose ground to proprietary reverse products
"In looking at eight currently available proprietary RM products, there is a distinct relationship between HECM growth rates and proprietary product availability," Reverse Market Insight said.
Mortgage rates rise on Iran standoff, FOMC meeting news
The benchmark 10-year Treasury yield topped 4.4% on April 29 — its highest level since late March — as investor anxiety mounted.
California bills would pause mortgage payments in disasters
Alongside a bill that gives homeowners a year of forbearance after state-declared emergencies, lawmakers will consider extending wildfire-related moratoriums.
Prepayments hit 4-year high after mortgage rates eased
Delinquencies also showed signs of overall improvement in March, despite an increase in foreclosure numbers, ICE Mortgage Technology said.
Banks question Basel omission of PMI in mortgage weights
A proposed update to Basel III capital rules from federal banking regulators does not specifically include mortgage insurance as a factor in determining the risk weight for a mortgage loan held on a bank's balance sheet. Industry experts say it should.
Mortgage rates at lowest in three spring purchase seasons
The 30-year fixed is still over 20 basis points higher than its February bottom, but fell 7 basis points this past week on Iran peace hopes, Freddie Mac said.
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