All three agencies saw increases in monthly loan deliveries in April, with loan mods helping to boost Fannie to a 17.4% gain from March. The purchase market and cash-out refi remain strong. (Includes two data tables.)
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Profits at Fannie Mae and Freddie Mac weathered a steady decline in mortgage purchases and shrinking mortgage holdings. (Includes data table.)
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Peter Norden, CEO of Homebridge Financial, is transforming his once top-40-ranked GSE lender into a HELOC originator and securitizer. Margins in conventional lending, he said, are non-existent.
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A proposal from FINRA to reduce the timeframe in which trades of MBS and ABS must be reported didn’t sit well with some industry participants, prompting the SEC to take a closer look at the proposal.
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Ares will contribute 90% of the joint venture capital while AmWest will provide the remainder. AmWest will also the provide the non-QM loans for securitization.
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San Diego-based Ascent and Washington, DC-based MPOWER separately began marketing their first student loan ABS in recent weeks. The firms operate online platforms and partner with banks on originations.
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