Capital markets

Mortgage performance in November was improving, coming close to crossing a key threshold for pandemic-era recovery, but Omicron raises questions about whether that trend will continue.

The Alabama bank is buying Clearsight Advisors to add to its booming capital markets division.

Under the Federal Housing Finance Agency rule, the GSEs would need to lay out how levels will change under a variety of stress tests, including required ratios separately proposed for amendment.

New securitizations of mortgages on energy-efficient rental housing totalled $12.7 billion during the first 11 months of this year, suggesting 2021’s total will come close to matching 2020’s $13 billion.

Acting Federal Housing Finance Agency Director Sandra Thompson and the Housing Policy Council say the new amounts are not good for affordable housing.

However, capacity issues, the suspension of the government-sponsored enterprise purchase caps and higher conforming limits all could affect activity, KBRA said.

However, it remains 30% tighter than pre-pandemic levels, according to the Mortgage Bankers Association.

Acting FHFA Director Sandra Thompson's decision to act immediately rather than taking the time to examine the impact likely harmed private-label securitizations in the short term, but issuance is still on course for a record year.

The company also locked a record $4.7 billion in jumbo loans and significantly increased its business purpose lending from a year ago as its revenue mix shifted toward its taxable subsidiary.

Button Finance intends to use the capital to develop its underwriting platform and increase hiring.