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Secondary markets

Securitized market stepping up preparations for new scores

Capital markets, Credit, Secondary markets /

Rating agencies and others are secondary market participants increasingly looking more closely at how to handle modernized credit scores for residential mortgage-backed securities now that government-related agencies have committed to the metrics. Processing Content Morningstar DBRS and Standard & Poor’s have joined KBRA in analysis and proposed conversion of VantageScore 4.0 into classic FICO, while […]

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Fannie Mae lowers origination forecasts through 2027

Economy, Fannie Mae, Mortgage Rates, Originations, Secondary markets /

Fannie Mae lowered loan forecasts for the next two years and also said interest rates will creep higher by the end of 2027, according to its monthly housing outlook.  Processing Content The government-sponsored enterprise now expects single-family production volume to finish at $2.35 trillion this year, it said in its June report. The new number

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Falling pull-throughs signal borrowers closely watching rate moves

Mortgage Rates, Originations, Secondary markets /

Rising mortgage rates led loan volume to shrink in May, while declining pull-throughs suggest some borrowers are changing plans in the midst of current volatility, according to the latest Market Advantage report from Optimal Blue.  Processing Content The product-pricing engine and secondary trading platform reported mortgage lock volume down 5.4% on a monthly basis in

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Farmer Mac’s CEO succession plan sped up nine months

Farmer Mac’s CEO succession plan sped up nine months

Career moves, Corporate governance, Earnings, Secondary markets /

Farmer Mac’s CEO transition will take place nine months earlier than previously disclosed, the government-sponsored enterprise announced. Processing Content Zachary Carpenter, currently president and chief operating officer of the publicly traded business formally known as the Federal Agricultural Mortgage Corp., will now start as CEO on July 1. Zachary Carpenter, president and COO, will take

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Second-lien warehouse facility availability hits 2-year high

HELOANs, HELOCs, Mortgages, Originations, Secondary markets /

Warehouse lines that play an increasingly important role in the housing finance market are more available for some nontraditional loan types than others, the latest Mortgage Bankers Association survey shows. Processing Content The share of warehouse lenders offering second-lien facilities and/or sublimits has been the highest it has been since the group began its survey

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Better closed first Fannie-supported loan backed by Bitcoin

Better closed first Fannie-supported loan backed by Bitcoin

Cryptocurrency, Originations, Secondary markets, Servicing, Underwriting /

Better and Coinbase have closed the first Fannie Mae-supported mortgage backed by Bitcoin in the United States. Processing Content The companies also confirmed plans to make the product available to qualified borrowers nationwide by this summer. Interested customers can currently apply to a waitlist, which has a projected $250 million in loan volume, a Better

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Trump says US still weighing share sale for Fannie, Freddie

Fannie Mae, Freddie Mac, Politics and policy, Secondary markets /

President Donald Trump said his administration is still considering a public offering of shares in mortgage giants Fannie Mae and Freddie Mac, days after he said he was appointing his top housing official to oversee the government’s network of intelligence agencies.  Processing Content Trump, speaking to reporters on Air Force One on Friday, was asked

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Rate outlook shift renews interest in the ‘other refi boom’

Originations, Secondary markets /

Reduced projections for interest rate cuts this year has lenders mulling the extent to which they need to diversify their product sets, several experts at an industry conference said Wednesday. Processing Content “Inflation is starting to move through the system and I think it’s going to keep rates elevated for quite some time,” Scott Buchta,

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Fannie, Freddie reform outlook shifts as Pulte takes on new role

Fannie Mae, Freddie Mac, Politics and policy, Secondary markets /

Bill Pulte’s new intelligence role is reshaping expectations for reform of Fannie Mae and Freddie Mac, industry experts said Wednesday.  Processing Content Experts on the panel focused in part on the precedent set by the government sponsored enterprises’ mortgage-backed securities buying, and addressed audience questions about the implications of their oversight chief’s new acting role.

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Onity updates reverse mortgage deal, preps share buyback

Onity updates reverse mortgage deal, preps share buyback

Capital markets, Reverse mortgages, Secondary markets, Servicing /

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

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