Mortgages

The second liens, which accompany CMBS first mortgages, range in size from $500,000 to $5 million, a segment of the market that is not well served by either banks or debt funds.

The CFPB's practice of "regulation by enforcement" forces mortgage companies to develop compliance standards based on the mistakes of their peers, rather than clear guidance from the enforcement agency, said David Motley, the new chairman of the Mortgage Bankers Association.

Navient has suspended stock buybacks to buy and expand a debt-refinancing firm that faces stiff competition from fintechs, and some shareholders aren’t happy.

Many of the prime jumbo loans backing the transaction, JP Morgan 2017-4, were contributed by originators with limited history in that product, according to DBRS.

Fintech and marketplace lender LendingHome is getting more than $450 million in investment and funding from different channels to help support mortgage production growth and technology improvements.

Ocwen Financial Corp. is settling allegations by Alabama and Minnesota that it engaged in improper mortgage activities, bringing the total of states it has settled with to 17.

The bill provides clarity to capital requirements to certain acquisition, development and construction loans are assigned a higher risk weighting under Basel III.

JPMorgan Chase reported a rise in value of its mortgage servicing rights despite lower originations in this year's third quarter.

The sale of the struggling Financial Freedom unit to an undisclosed buyer would continue CIT's strategy of shedding noncore business lines.

Select Portfolio Servicing grew its mortgage servicing rights portfolio by over 14% in the second quarter by targeting opportunities in the nonagency loan market.

Ocwen Financial Corp. received more breathing room on the legal front as the Securities and Exchange Commission is not pursuing an enforcement action against the company regarding its debt collection practices.

Though FHFA Director Mel Watt stopped short of saying he would break with a Treasury agreement that forces all profits of the GSEs to go to the government, he emphasized that it couldn’t continue indefinitely.

The majority of borrowers impacted by Hurricane Harvey have a significant amount of equity, while many in Hurricane Irma disaster areas have limited or negative equity, according to Black Knight Financial Services.

The House passed a bill Thursday making it easier to obtain private flood insurance policies, but moments later the Senate took a pass on the legislation.

Trepp reports that further declines are possible as the wave of maturing pre-crisis mortgages appears to have been reduced to more of a ripple.

The amount of commercial and multifamily mortgage debt outstanding ticked up from April through June, yet the balance of loans in commercial mortgage-backed securities continued its decline.

Nearly half of the properties are in New York (30.3%), New Jersey (10.4%) or Florida (8.7%), states that require a court to sign off on a foreclosure, a lengthy process that could affect the timing of payments.

Mortgage delinquencies in areas affected by Hurricane Harvey last month were 16% higher than in July, according to Black Knight Financial Services.

Vandy Fartaj, the firm’s chief capital markets officer, says a novel deal structure allows the real estate investment trust to issue additional term notes its portfolio of mortgage servicing rights grows.

Hurricane Irma could potentially affect more private-label mortgage securities collateral than any other recent storm.