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Capital markets

New dangers for housing in looming shutdown: How mortgage lenders can prepare

Capital markets, Mortgage Rates, Originations, Politics and policy, Servicing /

The potential government shutdown that’s looming this week due to an impasse between political parties in budget negotiations has some new risks for housing. In addition to more typical concerns, an Office of Management and Budget memo issued last week means the usual furloughs could be layoffs that compound the impact of previous public sector […]

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Panel eyes GSEs’ guarantee as public offering talks progress

Capital markets, Politics and policy, Secondary markets, The Great American Mortgage Corporation /

The value of government-sponsored enterprises’ Fannie Mae and Freddie Mac stems from their mortgage-market role and experts at a Bipartisan Policy Center event at times took varying stances on what it would take to preserve and protect that position amid reform. The panel’s comments arrived ahead of Federal Housing Finance Agency Director Bill Pulte’s ongoing

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Flood insurer Neptune’s backers seek $368 million in IPO

Capital markets, Servicing /

Flood insurance company Neptune Insurance Holdings Inc.’s shareholders are seeking to raise $368.4 million in a US initial public offering, adding to the flow of insurance firms debuting this year.  The St. Petersburg, Florida-based company plans to market 18.4 million shares for $18 to $20 each, according to its filing Monday with the U.S. Securities and Exchange

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Marathon’s Richards sees coming bonanza for LBOs, private credit

Capital markets, M&A /

Mergers and acquisitions and private markets will rebound when the next Federal Reserve chair is appointed, according to Marathon Asset Management LP Chairman Bruce Richards. Bringing down financing costs will boost transaction activity, increasing distributions to investors in private equity and making it easier for companies to repay their debts, he said in an interview

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Rates ‘Volmageddon’ hammers Wall Street tail hedge

Capital markets, Secondary markets /

A rapid plunge in U.S. interest-rate volatility is heaping pain on a popular Wall Street approach for hedging against financial market turmoil. In recent years, major banks have been building and selling protective quantitative investment strategies (QIS) tied to long-term expectations for swings in interest rates. The products — systematic trades packaged up as swaps for the

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Man behind Opendoor meme rally sparks 176% surge in Better

Capital markets, Mortgage technology /

Shares of Better Home & Finance Holding Co. soared after Eric Jackson said his hedge fund had bet on the stock, echoing the retail-driven rally he kicked off in Opendoor Technologies Inc. in July. Shares of the online mortgage company known as Better rose as much as 176% on Monday, triggering multiple halts for volatility,

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Pacaso

Pacaso gets funding for non-QM co-borrower securitizations

Capital markets, LOAN PRODUCTS, Mortgage technology, Secondary markets, Servicing /

Financial technology firm Pacaso has closed on a revolving credit facility it will use to enable sales of 30-year second-home mortgages with co-borrowers into the securitized market. The $100 million facility from Texas Capital Bank will fund Pacaso’s purchases of the mortgages, which have an initial five-year interest-only period. It also will accommodate inclusion of

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Mortgage bonds are finding ready buyers in REITs flush with cash

Capital markets, Secondary markets /

Mortgage REITs are snapping up bonds backed by US home loans at a pace last seen before the pandemic, taking advantage of relatively cheap valuations and rallies in their own shares that helped them raise fresh cash. These real estate investment trusts are expected to buy about $30 billion of mortgage debt securities on a

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Why cap markets tech use has grown and what it means for LOs

Capital markets, Editorial Research, LOAN PRODUCTS, Secondary markets /

New data shows growing use of product, pricing and eligibility engines has given nonbank mortgage executives, their loan officers and others more immediate access to capital-markets information that could be a competitive advantage. It also points to opportunities that could jumpstart mortgage professionals’ careers, depending on their goals and interest in these developments. Most of

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Fed cuts but only some mortgage rates are moving lower

Capital markets, LOAN PRODUCTS, Mortgage Rates, Originations, Politics and policy, Servicing /

The Federal Open Market Committee’s decision to meet broad expectations for a 25 basis point cut might not give many people in the market for a home loan the break they anticipated. “What does that do for mortgage rates? I think we’ve already seen that show up. The last three, four weeks, we’ve seen mortgage

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