Economist and former PIMCO CEO Mohamed El-Erian says the U.S. economy is the cream of the crop in the developed world. And the prospects for housing finance are also looking up.
Mortgage originations typically decline from the second quarter to the third. This year, however, declining interest rates helped increase refinance production and prop up purchase-mortgage lending.
HPS Investments, which owns nonprime originator/servicer Acra Lending and more, is toying with an IPO. Acra is a small part of what HPS owns, but it would open up the lender to public disclosures.
Purchase mortgages and refis increased across the board in the agency MBS market in the third quarter, with the strongest growth seen in refis that carried primary mortgage insurance. (Includes three data tables.)
The refi boom fizzled in recent weeks as mortgage rates increased. Now it’s a waiting game for lenders and borrowers, with rates expected to go down, eventually.
TD Bank plans to sell some of its jumbo mortgages and a correspondent business to free up asset space under a new cap set by the OCC. Wells Fargo, meanwhile, appears to be nearing a release from its cap.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.
RSS