Capital markets

Mortgage-backed securities' strong showing since mid-October defies a textbook theory that they typically underperform other types of bonds when yields are falling.

Citizens' SVP and director of mortgage secondary and capital markets reflects on what her experience with past cycles suggests about where this one may be headed.

While the government-sponsored enterprise cut its origination forecast for this year, the Mortgage Bankers Association's updated forecast was unchanged from its October prediction.

High interest rates and constrained inventory will take its toll on originations and securitization activity in 2024, the rating agency commented.

Though home mortgage issuance has slumped in line with originations, new potential bank capital rules and increased consumer debt consolidation could boost activity for these two subsets in the secondary market.

While the company's long-term issuer default rating has slipped a little, affiliates of Blackstone that have a higher one back the reverse mortgage player.

In a deal arranged by the Federal Deposit Insurance Corp., the Pittsburgh bank has bought a portfolio from the wreckage of Signature Bank. The purchase should help PNC expand its fund banking business, which helps private equity firms manage liquidity and finance investments in the short term.

Credit ratings were cut on the highest number of commercial mortgage-backed securities in "recent memory" last week, according to strategists at Bank of America Corp.

The real estate investment trust arm of two affiliate mortgage-related companies could reduce other debt and finance purchases of loans, servicing or securities.

Despite an industrywide rough patch, EverBank still sees promise in the niche business line. The Jacksonville, Florida, company has hired a pair of prominent industry experts to lead a new division tasked with serving investment funds.

The mortgages are part of a program that received congressional scrutiny earlier this year.

Lenders will be adjusting to new mandates regarding mortgage applicants that don't have payments for education debt on their credit reports.

Michael DeVito has been able to grow the government-sponsored enterprise's net worth, but at the current pace and without a rule change, it could take 10 years to build enough capital to exit conservatorship.

The hefty inflows highlight a broad rebound for private credit strategies in the second quarter, during which 34 new funds raised $71.2 billion, more than double compared with the previous three months.

The government-sponsored enterprises have consistently earmarked some distressed loans for community, nonprofit and minority investors. Certain Democrats want more.

The new business will take in money from insurance companies and invest in mortgages and in private structured credit. It will look to draw business from an insurance industry that's "looking to diversify.

Industry executives coming off a tough year are wondering what the transition will cost and how many borrowers it'll bring in.

The agency's president, Alanna McCargo, called the nonbank liquidity issue "the biggest of our time," while speaking at the Bipartisan Policy Center Tuesday.

Product availability for July remained at levels last seen in 2013 as rates briefly broke above the 7% mark during the month, the Mortgage Bankers Association said.

The new technology expands the capabilities of automation used to obtain digital transcript information from self-employed borrowers.