Mortgages

The underlying loans in the collateral pool is nearly sterling in quality, with full-documentation underwriting, and WA loan seasoning of 30-plus months.

Despite “color blind” underwriting algorithms, loan denial rates on mortgages that were not backed by the Federal Housing Administration and the VA skewed heavily toward minority groups, according to a study by The Markup.

Increasing COVID-19 numbers offset promising economic figures, resulting in minimal changes.

The deal appears to take advantage of a shift in federal rules reducing the level of non-owner-occupied loans Fannie Mae and Freddie Mac can purchase.

Sales of new U.S. homes rose in July for the first time in four months, helped in part by additional inventory and indicating still-firm underlying demand.

The overall pace of both entries and exits slowed, even as the private-label securities and portfolio loan segment saw a spike in its numbers.

Refinancing, high home prices, the concentration of pandemic-related hardships in the FHA market, and the lingering impact of last year’s market disruption all likely played a role in the intensified discrepancy.

The collateral mortgage were underwritten through the CFPB's ATR rules, and captures self-employed, prime and super prime borrowers, and even foreign nationals.

Marked declines in loans that have had relatively higher levels of pandemic-related distress reinforced other indicators suggesting the market could normalize if infection rates remain contained.

Meanwhile, investors await word from the central bank regarding monetary policy, as limited housing supply continues to drive prices upward.

But 45% of the top 100 counties still have an above-average likelihood that borrowers won’t make their payments on these business-purpose loans, RealtyTrac said.

But average loan sizes remain near record highs, with summer purchases of new constructions continuing to drive up prices.

The move adds to signs that the broader restart of foreclosures won’t get fully underway until 2022.

The wholesale lender has a cost structure aimed at beating the competition in a rising rate environment, Chairman and CEO Mat Ishbia said on the second quarter earnings call.

While the company's mortgage originations saw a 46% annual drop in gain on sale margin, it anticipates that annual volumes will exceed 2020 levels.

The agency developed measures taking effect Aug. 31 that, among other things, will allow lenders to prioritize foreclosures of the most impaired loans and then focus on modifying salvageable ones.

The expanded credit access in its automated mortgage decisioning goes into effect in mid September.

The company attributed its second quarter loss to competitive pricing pressures and GSE-imposed charges.

Ten classes of multifamily mortgage pass-through certificates will be issued from the trust, which is secured by 29 loans on 29 properties.

An equal split of refinance and purchase rate locks occurred during July, helped by elimination of the adverse market fee, Black Knight said.