Mortgages

SPS will have roughly 1.4 million mortgages in its portfolio after the transaction closes, something the two companies estimate will occur in the fourth quarter of this year.

The class-action lawsuit was brought on behalf of mortgage borrowers who were allegedly placed into forbearance during the early days of the pandemic without their consent.

Both the 30- and 15-year averages are now more than 3 percentage points higher from their levels of one year ago.

Still near historic low levels, the share of borrowers entering the early stages of delinquency in June increased 0.1 percentage point.

Rate and term refinance activity has practically disappeared compared with 12 months ago, and volume for the less rate sensitive cash-out product is much lower.

BofA Securities Inc. predicts that single-family rental securitizations — which repackage a single loan tied to multiple properties — will fall to just $2 billion for the rest of 2022 as Federal Reserve rate hikes send shivers across the industry.

Historically tight underwriting reinforced by regulation and third-party reviews could be buffers, so long as manufacturing standards for production and servicing hold up as residential mortgage companies downsize, according to KBRA.

Completions in August remained far lower than before COVID-19 arrived in the United States but initial actions rose fast enough to potentially meet expectations that they'll normalize in 2023.

Housing's unusually high appreciation rates have now slowed for three months straight, and the number of metropolitan areas that are considered overvalued keeps growing, according to CoreLogic.

Consumer demands for lower density and more affordable prices fueled a larger share of construction outside urban cores, but recent trends have led to slowdowns across the board.

Bond credit enhancement has benefited from historically higher-than-average prepayment speeds and low realized losses despite a COVID-related rise in delinquencies.

A larger share of cash-out loans and slowing home-price growth is leading to expectations of more serious delinquencies down the road, according to Milliman.

Even though a Compass Point report states the pair have validated the credit scoring model and could implement it in the first quarter of 2023, interested parties would not verify it.

A mix of new distress and declining cures drove the uptick, according to dv01.

Comments from Federal Reserve officials in Jackson Hole last week have markets bracing for further tightening of monetary policy in the near term.

Consumers taking out adjustable-rate mortgages last year put down a median down payment of 23.6%, researchers at the real estate brokerage found.

The amounts canceled may not clear away enough debt to help all recipients immediately qualify or improve their ability to repay, but over time the savings may bolster originations and performance.

Better-than-expected economic data helped lead to the steep acceleration of the 30-year average, while the 15-year also shot up.

The number of these mortgage borrowers getting back on track with payments has been roughly halved since March, according to Black Knight's initial take on July numbers.

Updated counterparty requirements recently coordinated with the Federal Housing Finance Agency affect a constituency that has kept growing, albeit at a slightly slower pace, according to new mortgage-backed securities research.