FBR Capital Markets Corp. will be reducing its staff by about 10% or roughly 75 employees. This is in response to adverse market conditions. No details of the exact nature of the layoffs were provided by FBR. In a statement, FBR indicated that it made the reductions to better position it to take advantage of opportunities that will come about when the market stabilizes. The Arlington, Va.-based firm added that, "even though FBR Capital Markets has more than $500 million in equity and $400 million in liquidity and is financially strong, we have taken action which we believe is prudent given the current capital markets condition."
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
6h ago -
There are two series, 2024-1 and 2024-2, that have revolving periods—three for the 2024-1 and five for the 2024-2—during which noteholders will not receive any principal.
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The trust employs a 24-month revolving period. There is an increased risk that collateral quality could deteriorate as the transaction evolves with new collateral.
March 27 -
Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
March 27 -
Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
March 27