Onity Group announced Tuesday that it was able to get an essential approval for a reverse mortgage transaction with Finance of America by reducing the amount of servicing rights it’s agreeing to sell. Processing Content The plan the company announced in its recent earnings call to get government securitization guarantor Ginnie Mae’s blessing by roughly […]
Onity updates reverse mortgage deal, preps share buyback Read More »
Global interest appears to be fueling a notable pickup in issuance of real estate mortgage investment conduit securities at Ginnie Mae, Freddie Mac and Fannie Mae, according to a new report. Processing Content REMICs made up $80 billion or 40% of Ginnie Mae single-family mortgage-backed securities issuance year-to-date in April. In addition, financial disclosures show
REMIC share grows at Ginnie Mae, Fannie Mae and Freddie Mac Read More »
The mortgage securitization market is facing two significant shifts: a proposed regulatory change that could reduce risk weights for private-label MBS, and an industry push for due diligence standards aimed at keeping up with surging growth in second-lien products. Processing Content The risk weighting for investment-grade MBS in the private market would fall from 20%
Securitization standards evolve for mortgages, home equity Read More »
The Basel III endgame proposal’s full benefit related to the capital treatment of servicing rights is not yet clear, but the promise of it is enough for independent mortgage banks to begin running the numbers and what they’re finding could reshape how the industry is structured. Processing Content “Normally when an IMB gets either
Basel III relief could turn mortgage bankers into bank owners Read More »
Redwood Trust has priced a $125 million debt offering, with some of the proceeds going to fund its three mortgage banking platforms, the company said. Processing Content The 9.75% senior notes due 2031 will be traded on the New York Stock Exchange, if approved, starting 30 days after issuance. The deal is expected to close
Redwood Trust adds debt to fund growth in mortgage channels Read More »
From left: Michael Lau, Bayview Asset Management; Michael Patterson, Freedom Mortgage; and Jay Plum, Fifth Third Bank Inflation is creating lending hurdles related to consumer spending and rates this year, as could another move the Fed’s eyeing; but lenders will have some coping mechanisms, industry leaders said Tuesday. Processing Content One thing to watch out
How top mortgage execs are contending with 2026’s challenges Read More »
Eric Lee/Bloomberg Ginnie Mae and Federal Housing Administration officials acknowledged concerns about a surge in delinquencies stemming from an FHA rule change, indicating they do foresee a date when it ends. Processing Content Pressure appears to be on track to let up later this year, Ginnie President Joseph Gormley told attendees at the Mortgage Bankers
Ginnie Mae foresees a day when FHA waterfall impacts end Read More »
From left: David Battany, Todd Leddon and Chris Bennett Loan product rollouts are often viewed as origination efforts, but capital markets teams that work to do things like ensure such efforts have appropriate investor support can make a difference in how well they go too. Processing Content “The secondary market is absolutely essential,” Bob Broeksmit,
How cap markets teams make a difference in product rollouts Read More »
Rate locks on home loans fell in April with a particularly steep dive in refinancing activity as the impact from March’s higher financing costs reversed some previous gains. Processing Content Overall, locks fell 9% from the previous month as purchase loans inched down 2% and rate-and-term refinances dropped by nearly 38%, according to Optimal Blue,
Mortgage rate locks sink after previous month’s surge Read More »
Rithm Capital has announced a 144A senior note deal that could help NewRez’s corporate parent manage its balance sheet. Processing Content Rithm, which owns a large-scale servicing and lending operation via NewRez, has announced a $500 million note offering for qualified institutional buyers that may be used to repay secured debt. The unsecured debt offering
NewRez parent Rithm Capital preps note offering Read More »