Saturday, 23 November, 2019

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Category: DS News


The Blackstone Group Inc. has sold the last of its shares in Invitation Homes, the company’s rental business. Blackstone sold around 11% of Invitation Homes’ shares for about $1.7 billion, made about $7 billion since the home rental business went public in 2017, according to the Wall Street Journal. Invitation Homes says that certain selling stockholders affiliated with Blackstone have Read more…


Oklahoma-based Gateway First Bank has announced the appointment of Deirdre Cherry as its CCO. As CCO, Cherry will be responsible for the review of Gateway’s loan portfolio on a continuing basis to guide risk-appropriate growth, assist in the detection of deterioration in loan quality and review the portfolio to ensure compliance with state and federal regulations. “We are committed at Read more…


Investors are seeing home prices rise in Opportunity Zones, according to the new Q3 2019 Opportunity Zones Report from ATTOM Data Solutions. The report found that about half the zones saw median home prices rise more than the national increase of 8.3% from the third Q3 2018 to the Q3 2019. The report also shows that 79% of the zones Read more…


Fitch Rating added more than 80 new performance metrics across a wide variety of servicing functions including delinquent account collections, loss mitigation metrics, loan accounting, customer relationship management, and default administration to better assess servicer performance now and identify trends in real time. “RMBS servicers are more sophisticated technologically today then they were pre-crisis and more adept at offering workout Read more…


Ray Brousseau River City Mortgage, a mortgage lender headquartered in Cincinnati, Ohio, announced its plans to expand its operations into eight new states—Oregon; Massachusetts; Vermont; Rhode Island; Connecticut; Delaware; Maine; and New Hampshire. The company also announced that Ray Brousseau, who served as President of Carrington Mortgage Services for the past eight years and as a senior executive with Citigroup Read more…


Fannie Mae has announced its 2020 Benchmark Securities Issuance Calendar. The calendar provides opportunities for investors and other market participants to utilize Fannie Mae Benchmark Securities for their respective investment activities. According to the FHFA, Fannie Mae was the largest issuer of single-family mortgage-related securities in the secondary market during the first nine months of 2019. The company’s estimated market Read more…


At Bayview Loan Servicing, Michael Waldron is responsible for the Compliance and Oversight Department’s management, leadership, and direction, as well as the company’s overall compliance strategy. With more than 20 years’ experience spent serving the industry in a wide variety of legal and compliance-related functions, Waldron is known for his ability to navigate the regulatory landscape and build relationships that Read more…


Freddie Mac announced pricing of the fourth Seasoned Credit Risk Transfer Trust (SCRT) offering of 2019—a rated securitization of approximately $2.3 billion including both guaranteed senior and unguaranteed subordinate securities backed by a pool of seasoned re-performing loans (RPLs). Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-4 includes approximately $2.1 billion in guaranteed senior certificates and approximately $229 million Read more…


This week, the Federal Open Market Committee will release the minutes of its last meeting. During the committee’s October 4 meeting, it was announced that the Board of Governors of the Federal Reserve System voted unanimously to lower the interest rate paid on required and excess reserve balances to 1.55 percent, effective October 31, 2019. The FOMC cited strong labor, Read more…


Bank of America has announced that it will be investing $3 million in Detroit neighborhoods aimed at helping homeowners and small-business entrepreneurs, as well as another $2.5 million in support of Detroit’s neighborhoods. “Bank of America is committed to investing in the people, places and projects that move Detroit forward. Our neighborhood strategy is providing support that spurs economic mobility Read more…


Nationwide Title Clearing has added two industry executives to its team. Robin Belanger will join the company as VP, focusing on enhancing NTC’s offering in the document certification, custody and capital markets area of the industry. Amie McCarthy will be joining the company’s executive team as VP Business Development for Capital Markets. “I am very excited to be part of Read more…


Southern states are some of the most delinquent states in the country, according to data from LendingTree. LendingTree’s study of states with the highest rates of delinquency (90 days or more) shows that Southern states, including Mississippi, Louisiana, Texas, and Georgia all hold the highest percentage of adults who are delinquent on a variety of loans, however, when accounting for Read more…


Lenders repossessed 13,484 U.S. properties through completed foreclosures in October 2019, up 14% month-over-month and the highest point in total number of completed foreclosures in 2019, according to the ATTOM Data Solutions October 2019 U.S. Foreclosure Activity Report. “While foreclosure activity across the United States rose in October, in looking at historical trends, October numbers tend to increase as lenders Read more…


In a market where the value for homes has increased dramatically and mortgage rates are low, it is important as an investor to make repairs to a home that will not only give a high return on investment, but also create a home that catches a buyer’s eye. Many renovated homes give the same “cookie-cutter” feel when everything in a Read more…


Mid America Mortgage, Inc. recently announced that it has completed the transition of its servicing operations to its newly-formed in-house servicing department. As of November 4, 2019, Mid America’s national servicing portfolio, which currently comprises more than 35,000 loans from across the Mid America family of brands, will be managed by an internal staff of approximately 40 employees located in Read more…