The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

A real estate professor weighs in on the future of MLSs

According to research done by Sonia Gilbukh, a real estate professor at Baruch College, there are some reasons to be concerned about the current number of real estate agents and the future of MLSs.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Deutsche Bank Sued Over CDOs

Banks suing other banks are likely to become much more common as the litigation machine warms up its engines in the wake of the mortgage-led financial market crunch. The latest case in point: Deutsche Bank AG (DB) and money manager HBK Investments LP are named defendants in a lawsuit filed Monday by Buffalo, New York-based M&T Bank Corp. (MTB), according to a published report. The lawsuit involves alleged fraud involving an $82 million investment by M&T into collateralized debt obligations that have since imploded, according to a story in the Wall Street Journal. The complaint argues that Deutsche “withheld from the ratings agencies material information about the quality and default problems” tied to the CDOs it issued, the Journal said. A review of the complaint by Housing Wire shows that M&T is alleging that it would never have purchased the securities in question had they been downgraded by the major credit rating agencies that rated the deals, Standard & Poor’s Rating Services and Moody’s Investors Service. It’s a new legal angle, and one that sources have told HW is likely to become much more commonplace in the months ahead, as banks and other institutional investors look to recoup at least some of their losses tied to structured investments gone sour. A recent accord involving key credit rating agencies and New York attorney general Andrew Cuomo is fanning the flames of litigation, as well, some sources said. Under the agreement, announced on June 5, the rating agencies agreed to make changes to their ratings process in exchange for cooperating with the AG’s ongoing investigation into Wall Street issuers; Cuomo is investigating if investment banks withheld vital information from investors and due diligence providers alike, massaging the ratings of key MBS and CDO deals in order to obtain the best possible rating. Neither M&T or representatives from Deutsche have commented to the press on the pending litigation. Disclosure: The author held no positions in DB or MTB when this story was originally published. HW reporters and writers follow a strict disclosure policy, the first in the mortgage trade.

Latest Articles

Existing home sales pop the 2021 housing bubble boys

So far this year, every existing home sales print has been higher in 2021 than the closing level of sales in 2020, which was 5,640,000. Even with the unhealthy home price gains that we have seen in the last two years, more Americans have bought homes with mortgages in 2020 and 2021 than any single year from 2008-2019, and this looks perfectly normal with our current demographics. HW+ Premium Content

Sep 22, 2021 By
3d rendering of a row of luxury townhouses along a street

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