There’s not much left at non-agency lender Sprout Mortgage but there are plenty of rumors, none of them good. Meanwhile, mortgage fintech Better.com has been adding senior managers.
It’s not every day that a mortgage company files for bankruptcy protection, especially one owned by PIMCO. As for the future of that mortgage company, FGMC, a sale of its licenses is expected. After that, it’s game over.
It was a good news/bad news story for the second-lien market in the first quarter of 2022. Production increased nicely but outstandings fell. (Includes three data charts.)
Changes could be coming to the CFPB’s QM rule. Then again, maybe not. Meanwhile, second-quarter earnings season starts soon, giving us a look into originations and MSR marks at the megabanks.
FHA premium cuts are being closely analyzed by HUD while FHFA and Treasury have had no talks about reforming the GSEs through the PSPAs. MBA also pressed FHFA on LLPA changes for conforming jumbos and mortgages for second homes.
Steeply lower production volumes call for new lending ideas. Right? Some A-paper shops are jumping into the non-QM pool. Will it save the day or result in higher delinquencies?
With home-equity lending suppressed due to tight underwriting standards, nonbanks are finding some success in equity-sharing agreements. The risk: The products may be classified as loans.
A year of transition? Tough times require action on the part of mortgage CEOs. Some shops are adding new products and branch networks. Others are pulling the layoff lever.
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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