Finance of America posted another net loss in the fourth quarter, but saw significant profit increases for 2025 as a whole. Processing Content The reverse mortgage company reported a $21 million loss from continuing operations in the fourth quarter, a $7-million improvement from the previous quarter, FOA revealed on an earnings call Tuesday. On an […]
FOA reports another loss in Q4, still profits in 2025 Read More »
Mortgage rates dropping to a three-year low last month drove up lock activity, specifically among purchase borrowers. Processing Content Total rate-lock volume increased 9% month over month and nearly 40% on an annual basis, according to Optimal Blue’s latest Market Advantage report. Purchase lock activity rose more than 14% from January and 5% compared with
Purchase locks jump as rates dip in February Read More »
William Pulte, director of the Federal Housing Finance Agency during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing in Washington on Thursday, Feb. 27, 2025. Photographer: Al Drago/BloombergAl Drago/Bloomberg Fannie Mae, Freddie Mac and their oversight agency have responded to a couple of broader federal developments this week, including a falling out with
Fannie, Freddie join Anthropic ban, address DHS shutdown Read More »
Elliott Investment Management, SMBC and Macquarie Group Ltd. are exposed to Market Financial Solutions Ltd., adding to the list of Wall Street firms caught up in its collapse. Processing Content Elliott holds about £200 million ($268 million) of mortgage-backed facilities tied to the failed lender while Sumitomo Mitsui Banking Corp. has about £100 million of
Elliott, SMBC and Macquarie exposed to collapsed lender MFS Read More »
Even if he was so-inclined to do so, President Trump might not be able to unilaterally release the government-sponsored enterprises from conservatorship because of the U.S. Supreme Court tariff ruling, a BTIG analyst report postulates. Processing Content Since Feb. 13, with the exception of Feb.18, mortgage rates have been under 6%, reaching 5.9% on Feb.
Tariff ruling could hamstring unilateral release of GSEs Read More »
Growth in mortgage-backed securities holdings pushed the government-sponsored enterprises’ combined retained portfolios up past a previous multiyear high in January, when President Trump directed them to expand MBS purchases. Processing Content Together, Fannie Mae and Freddie Mac’s total loan and MBS holdings rose to $278.45 billion during January from $271.69 billion the previous month and
Fannie Mae, Freddie Mac’s total portfolio at multiyear high Read More »
Mortgage-backed securities purchases became the current focus of near-term plans for Fannie Mae and Freddie Mac due to lower-than-anticipated valuations for a planned stock offering, a housing official told Fox Business. Processing Content “Today some people say the businesses are worth up to $1 trillion. They’re worth $500 billion to $700 billion, we believe,” Federal
Trump’s $200B MBS plan set off by GSE valuation gap: Pulte Read More »
Loancare can’t shake allegations that it mishandled borrowers’ mortgage prepayments, after a federal appeals court gave new life to a longstanding class action complaint. Processing Content The servicer will have to relitigate claims that it delayed customers’ prepayments toward unpaid principal balances in order to accrue unearned interest. Three justices of the 4th Circuit U.S.
LoanCare faces revived class action on prepayments Read More »
Plans to expand competitive use of VantageScore in the mortgage market could save the industry hundreds of millions of dollars, potentially offsetting concerns about rising credit score costs. Processing Content VantageScore estimates that full adoption of its 4.0 version under a “competitive use” scenario could cut more than $600 million in the first 12 months,
FHFA VantageScore savings sized up, FICO expands in mortgage Read More »
The wide-ranging nonagency mortgage market is giving traditional lenders more reasons to consider branching out into it, according to servicers supporting these strategies. Processing Content “Certain types of nonowner-occupied GSE loans that are agency deliverable now trade better in the nonagency space,” said Michael Yanniello, chief operating officer, head of portfolio oversight and operations, Onity
Servicers offer support as nonagency gets more competitive Read More »