Local concentration of mortgage lending may not raise interest rates, but it does increase fees and points, especially for low-income and minority borrowers.
It was thought that higher capital requirements proposed on Ginnie Mae issuers would ding valuations of the MSR asset. But so far, that hasn’t happened. Credit: strong demand and declining forbearance ratios.
In a bid to diversify its product offerings, New York Community Bank is merging with the mortgage-centric Flagstar. Three other depositories are engaged in M&A deals as well.
The combined entity will be a more diversified commercial mortgage real estate investment trust, with assets expected to reach $1 billion when fully invested.
Bank acquisitions in the mortgage space have been few and far between the past few years. Still, officials at Western Alliance believe it makes perfect sense for the bank to acquire AmeriHome Mortgage.
RSS