A Safe Bet: CFPB Expected to Extend GSE Patch Amid Pandemic April 24, 2020 Yemeng Yang However, the question remains whether the bureau will announce significant changes to the current framework... Read More
Esoteric Non-Agency MBS Hit the Market, More Planned April 20, 2020 Brandon Ivey Other non-agency MBS in the pipeline include offerings backed by reperforming mortgages...Read More
Non-QM Lending: Not Quite Dead Yet April 17, 2020 Brandon Ivey The active non-QM funders include ACC Mortgage, A&D Mortgage, First National Bank of America, Newfi Lending and Silvergate Bank. (Silvergate, up until recently, was also a warehouse provider of non-QM products.) Read More
Impac Not Ready to Resume Mortgage Originations April 16, 2020 Brandon Ivey Impac had hoped to resume lending again after a shutdown of two weeks. But that was then... Read More
Ocwen Gets Warning Notice from SEC on Low Share Price April 13, 2020 Paul Muolo Ocwen said it received written notification on the violation from the NYSE on April 8.Read More
Jumbo Correspondent Buyers: Who's In, Who's Out? April 8, 2020 Brandon Ivey Among the two largest firms that originate jumbo mortgages through correspondents, Chase is still active while Wells Fargo is on hiatus... Read More
Velocity Raising $45 Million Via Stock Sale to Address Funding Issues April 7, 2020 Brandon Ivey Since going public earlier in the year, Velocity Financial's share price has cratered... Read More
Wells Fargo’s Thursday Night Surprise: Megabank Pulls Out of Jumbo Correspondent Channel April 3, 2020 Paul Muolo Sources contend that other banks might follow Wells' lead but as the weekend approached, the situation was fluid, to say the least. Read More
Redwood Selling Assets at a Loss, Meeting Margin Calls April 2, 2020 Brandon Ivey Redwood has been able to meet margin calls but is selling mortgage securities at a loss.Read More
Banks Originating Jumbo Mortgages Despite Market Turmoil March 31, 2020 Brandon Ivey Some good news: The top five producers of jumbo mortgages all continue to originate the loans, despite the market turmoil caused by the coronavirus...Read More