The increase in production revenues was canceled out by higher expenses, a sign that too much capacity remains in the system, the Mortgage Bankers Association said.
-
The transaction could be upsized to $1.3 billion in issuance, supported by fixed-rate loans on mostly new agricultural equipment.
March 14 -
Spreads are expected to come in at 120 basis points over the 3M, I-Curve on the A1A notes and then range from 185 bps—425 bps over the 3M, I-Curve on the class B through class D notes.
March 14 -
Most participants hoped the market had already seen the peak of interest rates, and anticipated rate cuts starting in the second half of 2024.
March 14 -
The average 30-year fixed mortgage rate for conforming loans fell, according to Freddie Mac, even as the 10-year Treasury yield rose nearly 18 basis points from the start of this week.
March 14 -
Prime quality auto loans secure the pool, although recent rapid origination growth put some strain on and deterioration on the notes in the 2022 and 2023.
March 13
-
Larger banks are responsible for a special assessment to cover the costs of the failures of Silicon Valley Bank and Signature Bank. The price tag has ballooned by $4.1 billion, and trade groups are criticizing the FDIC's process, arguing that it lacks transparency.
March 13 -
The community development financial institution was the nation's top non-qualified mortgage lender last year, according to one ranking.
March 13 -
Analysts' base-case assumption is for the pool to see net losses of about 8.25%, and the AAA rating stress assumption is for a 36.0% loss.
March 13 -
The Long Island-based lender has released a number of new details about its reconfiguration following a $1 billion capital injection led by two former Trump administration officials.
March 12 -
Spreads are expected to come in ranging from 15 basis points over the 3M I-Curve on the A1 notes to 160 bps over the benchmark on the class D notes.
March 12 -
The inclusion of reclassified HECMs was seen as a potential credit shortcoming, as a small number had exceptions that are potentially meaningful, such as an expired or unapproved appraisal.
March 11 -
While some said the agency was ignorant of its own rules, one trade group praised the goals of the posting.
March 11