The deal consists of 11,673 nonconforming first-lien mortgages, of which nearly all have been previously modified. Approximately 7% are in COVID-19-related forbearance.
-
As of the end of July, there were more than 1 million past-due mortgages not in forbearance plans, and the majority likely would have qualified for forbearance under the CARES Act.
October 22
-
According to ratings agency presale reports, Flagship will sell $303 million in bonds from a $314.8 million of loan originations by Flagship as well as its CarFinance.com subsidiary.
October 22
-
But an expected drop in refinancings as mortgage rates rise should more than cancel that out, resulting in declining overall volume through 2023.
October 21
-
The private investment firm is securitizing a $265 million loan backed by fee interests in 58 well-performing properties across 12 states.
October 21
-
Pagaya Investments, which purchases loans from MPL platforms using AI-driven technology, is sponsoring a $423.9 million transaction, according to a ratings agency presale report.
October 21
-
Mortgage applications decreased 0.6% from one week earlier, although a slight drop in purchase volume belied the fact that consumers are taking advantage of the current rate environment, according to the Mortgage Bankers Association.
October 21
-
The agency confirmed that loans backed by Fannie Mae and Freddie Mac can continue avoiding debt-to-income limits as the bureau completes a revamp of the Qualified Mortgage standard.
October 20
-
Minus various expenses including corporate, legal and servicing rights valuation, Ocwen had adjusted pretax income of $13.5 million.
October 20
-
Blackstone Group is sponsoring a $1 billion commercial real estate CLO transaction, backed by a portfolio of pari passu participations in commercial mortgages for primarily lower-grade office, mixed-use and hotel properties.
October 20 -
Moody’s Investors Service sees improved recovery prospects for the U.S. restaurant industry next year, buoyed by projected revenue growth of 15% despite ongoing concerns of the length and impact of the coronavirus pandemic.
October 20
-
A total of 34 states have offered coronavirus-related rental or mortgage assistance, much of which is funded by the CARES Act, according to the National Council of State Housing Agencies.
October 19
-
The overall forbearance rate was under 6% for the first time since April as another large swath of loans fell out of CARES Act coverage, according to the Mortgage Bankers Association.
October 19
