Short Takes: Applications Down Somewhat / Foreclosures Increase / Fitch Affirms Servicer Ratings at PHH / New CEO at Sagent February 14, 2024 Brandon Ivey Demand for both purchase mortgages and refinances declined as interest rates ticked up.Read More
Time to Staff Up? According to Some, Yes… February 12, 2024 James Dohnert With the spring homebuying season just around the corner, lenders may want to staff up...Read More
Short Takes: Consumer Advocates Defend CRA Revisions / Banks Done Tightening / Pressure on Navy Federal / HPC Mourns Mike Gill / Former First Republic Co-CEO Moves On Again February 6, 2024 Brandon Ivey The National Community Reinvestment Coalition accused banks of hypocrisy for filing a lawsuit against new standards under the Community Reinvestment Act.Read More
Short Takes: Impairments on Non-QMs Up Again / New CRT From Freddie / Redwood Back Quickly With Jumbo MBS / Promotions at Northpointe Bank February 2, 2024 Brandon Ivey The impairment rate on securitized non-QMs increased by more than 100 basis points between August and December.Read More
REIT Will Enter the Origination Market. However… January 30, 2024 Paul Muolo The production chief Two Harbors hired was not identified by name...Read More
Short Takes: For SoFi, Finally… / Stock Spikes / Better.com? / Remembering Impac / How About a Job at FHA? January 29, 2024 Paul Muolo SoFi posted a quarterly profit for 4Q23, but the nonbank lost $300.7 million for the full year ...Read More
Short Takes: FICO’s Mortgage Revenue Spikes / Bank Exits Retail / New Leader for AIME / Jumbo MBS From Goldman January 26, 2024 Brandon Ivey Mortgage origination revenue at FICO more than doubled in the fourth quarter of 2023 compared with the fourth quarter of 2022.Read More
Ginnie’s Tech SVP Pauses Retirement to Help Ensure Orderly Transition January 25, 2024 Monica Hogan Barbara Cooper-Jones will put her retirement plans on hold for a few months to help ensure a smooth transition for her eventual replacement.Read More
Short Takes: JPM’s Stake in Rocket / Bottoming Out? / Fintech Raises Capital / Ranieri Taps Former Cenlar Exec / Memorial Service Set for Stevens January 22, 2024 Paul Muolo and James Dohnert Downpayments, a fintech startup, recently secured $32.8 million in initial debt funding...Read More
Short Takes: Purchase-Mortgage Demand Lagging / Few Losses on Nonprime MBS / Broker Advocacy Group Goes Independent / New CEO at Ranieri Solutions January 17, 2024 Brandon Ivey Applications for purchase mortgages in early January were down 20% on an annual basis.Read More
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