Mortgages

Just over 12 billion euros ($14.6 billion) of new issue, refi and reset paper has priced so far this year, surpassing a previous high of 7.3 billion euros in the first two months of 2018.

Servicers could be dealing with approximately 1.8 million distressed properties when the latest forbearance extension ends in June, Black Knight said.

The decision provides more clarity to noteholders in the state about when the six-year statute of limitations to bring a foreclosure action begins.

A majority of the loans are also junior-lien obligations, according to a presale report.

The newly public digital mortgage giant is relying on a diverse set of loan channels to take on competitors in an increasingly crowded field, CEO Anthony Hsieh said in an earnings call this week.

Between the dip in refis and the approach of the spring buying season, mortgage lenders are likely to start paying a little more attention to the purchase market, which is less rate-sensitive.

While the Mortgage Bankers Association hailed the move, some experts say it could negatively impact housing inventory.

Both in terms of interest expense and the sheer cost of dealing with consumers, the mortgage industry is out hundreds of millions of dollars due to this unfunded mandate from Congress, analyst Chris Whalen says.

With pandemic conditions in place for a second spring, lenders and brokers discuss the indicators that will reveal whether the market is shifting away from the traditional selling season to one that runs hot throughout the year.

While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity.