FHFA scraps plan to allow non-agency mortgages on common securitization platform; non-agency forbearance declines; Redwood makes another venture investment; Plaza resumes non-QM program; FoA allowing jumbo borrowers to use income from ADUs; Invictus hires dv01.
Among a group of 15 servicers tracked by this publication, nonprime servicing balances were essentially unchanged between March and June. At the servicer level, there were some fluctuations. (Includes data chart.)
An increase in jumbo originations helped to grow servicing portfolios at many shops during the second quarter. Top-ranked Wells Fargo, however, saw its jumbo servicing portfolio decline. (Includes data chart.)
Non-agency forbearance increases; new securitization involving contracts tied to home price appreciation; new commercial mortgage product for brokers; Sachem’s income increases in 2Q.
The three servicers added significant volume to their portfolios thanks to the surge in non-agency MBS issuance during the second quarter of 2021. The performance of securitized loans also continues to improve. (Includes data chart.)
The nonbank was able to increase its income during the second quarter with a focus on business-purpose loans. Resolutions of NPLs generated income and originations increased.
Angel Oak’s REIT sees income decline; Zillow and LendingHome issue securitizations; non-agency forbearance level; Pretium adds director from Goldman Sachs.
The standards generally mirror requirements the FHFA has established for servicing of mortgages backed by the GSEs. Implementation will be handled on a state-by-state basis.
Non-agency forbearance increases; Sachem inks $200 million repo line; review of risk-retention requirements extended; Angel Oak plans to expand its digital capabilities; Liquid Mortgage receives patent; Home Diversification Corp. for sale.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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