An Origination Decline for Jumbo Specialist FRB April 16, 2021 Paul Muolo On the home-equity lending side of the aisle, the San Francisco-based bank funded $623.6 million worth of seconds, a slight increase from 4Q20...Read More
A Nice Comeback for Non-Agency MBS Issuance in 1Q21 April 16, 2021 John Bancroft JPMorgan Chase was the top issuer of prime non-agency MBS with $4.08 billion in first-quarter issuance... Read More
Short Takes: Nice Earnings for a Megabank / BofA and Home-Equity Lending / Some History / The Caliber Termination Fee / New Residential’s 1Q21 Results April 15, 2021 Paul Muolo The termination fee on the NRIC-Caliber deal: $25 million. Read More
Uneven Growth in Agency MSR Market for 1Q21 April 15, 2021 John Bancroft Nonbanks continued to amass agency servicing market share in early 2021 as many depository institutions allowed their portfolios to shrink.Read More
Its IPO in Doubt, Caliber Agrees to a Sale. The Buyer: New Residential April 14, 2021 Paul Muolo Owned by Lone Star Funds, Caliber late last fall filed to go public but the IPO has been on hold for undisclosed reasons. Meanwhile, NRIC also said this morning that its previously announced IPO of NewRez will proceed.Read More
Non-Agency MBS Issuance Up Sharply in First Quarter April 13, 2021 Brandon Ivey Some $3.86 billion of expanded-credit MBS was issued in the first quarter, up 13.2% from 4Q20...Read More
A Big Improvement in the Ginnie Mae Forbearance Category April 12, 2021 Paul Muolo When it comes to forbearance, Black Knight noted widespread improvement “with all investor classes seeing significant declines" in active cases...Read More
A Laggard: Mortgages with Short Terms April 12, 2021 Brandon Ivey Some $11.40 billion of these loans — often used for fix-and-flip lending and bridge financing — were originated in 2020... Read More
In 1Q21, A Record $92.3 Billion for VA Refis April 12, 2021 John Bancroft Old-fashioned rate-term transactions still accounted for most of the VA refi market, at 89.1% in the first quarter... Read More
Structured Finance Market Off to Solid Start in 1Q21 April 9, 2021 John Bancroft Some $81.01 billion of non-mortgage ABS came to market in the first quarter, a hefty 85.8% gain from the previous period.Read More