Issuance of expanded-credit MBS increased by nearly 40% on a sequential basis in the first quarter while prime non-agency MBS issuance was down 16%. Issuers faced higher interest rates and diminished demand from investors. (Includes data chart.)
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The conduit started acquiring mortgages in mid-2021, with a focus on a limited number of lenders and relatively conservative credit standards.
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Originations of adjustable-rate mortgages declined by 4.8% from the third to the fourth quarter and by 13.7% for the full year 2021. Bank of America was the top ARM producer. The loans largely remain in portfolio. (Includes data chart.)
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After more than a year of working to shift its focus, Altisource Asset Management is setting up an alternative lending group to originate and acquire non-QMs and other products.
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Reigo Investments raised $13 million in Series A funding while New York Mortgage Trust acquired minority stake in AlphaFlow for an undisclosed amount.
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For a flat fee of $1,000 per month, prospective homeowners can enter into equity-sharing agreements with Haus. The company also launched a blockchain-based coin offering for accredited investors.
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Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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