Lender Flagstar Bank doesn’t exactly personify the old ‘phoenix rising from the ashes’ story line, but it’s pretty close. With most rep and warrants litigation behind it, the firm's stock is gaining traction in the eyes of at least one analyst group.
Monoline insurer MBIA managed to distance itself from loans tied to the bankruptcy estates of Residential Funding Co., Residential Cap and GMAC. The company sold its interest in claims against the firms this week.
It’s been a rough few years for bond insurer MBIA, but after settling legacy mortgage-backed securities litigation with Bank of America and Société Générale, the bond insurer assured investors this week in a securities filing that all major doubts about the firm’s future are over.
Melvin Luther Watt quietly slid into his office as the first appointed director of the Federal Housing Finance Agency. It was the end of last year, in mid-December. Christmas was coming and the markets were in the middle of the harshest winter in years. As he took over the office of Acting Director Ed DeMarco — himself the unassuming lightning rod for the nation’s housing policy — Watt gave no indication of what he intended to do with his new position; arguably the most powerful job in mortgage finance..
Crowdfunding has swept through large verticals of consumer finance, including student loans and credit card debt. And so, naturally, in a market of rising property values, the real estate market is the latest frontier for crowd-based financing. Read More
Like oxygen, warehouse lending is one of the mortgage industry’s essential life-supporting elements. And fortunately, the warehouse segment is in much better health today than it was six years ago, as we are back up to around 70 warehouse lenders at my last count. Read More