Hints and tips:
...Further down the credit quality ladder, low-grade borrowers including Kinetic Holdings, automobile financing firm Credit Acceptance and residential mortgage company PennyMac Financial Services are among...
...Black Knight is in arbitration with PennyMac, one of the largest standalone lenders, over what it felt were anti-competitive practices designed to maintain Black Knight’s market-leading position....
...Mortgage issuance is going to be down when you double rates. Same thing with auto lending. The one shoe that hasn’t dropped yet are cap rates and debt yields on commercial real estate....
...For example, in the first quarter of this year PennyMac earned $224m in Ginnie servicing revenues, and Freedom Mortgage Corp raked in $234m....
...She has led ICE’s data business since 2015 when it acquired Interactive Data Corp....
...Publicly traded mortgage lenders PennyMac Financial and Mr Cooper have seen their shares underperform over the past few weeks after a strong summer....
...Smart reads The house always wins Sky Bet, the most popular gambling app in Britain, knows more than its users’ favourite games — it uses banking records, mortgage details and location co-ordinates to keep...
...The non-bank mortgage market is highly fragmented, but there are a few big players, including Quicken Loans, PennyMac Financial, and United Wholesale Mortgage, with 5, 4 and 3 per cent of the total US mortgage...
...A group of investors led by Klein merged their first Spac, Churchill Capital Corp, with Clarivate, a little-known data analytics company, in 2018....
...That, crudely, is what happened in the US subprime mortgage market in 2008, when large chunks of home loan debt, repackaged as triple A-rated derivative investments, defaulted and left end investors with...
...Morningstar began publishing credit ratings on public companies in 2009, and the following year acquired Realpoint, which had a niche in commercial mortgage-backed securities....
...It has since diversified into other products such as mortgages and consumer loans, while cultivating a clubby atmosphere — including happy hours and career sessions for customers — which helps to cut down...
...that into the mortgage-backed securities market....
...Even so, MSR intensive Reits such as PennyMac Mortgage Investment Trust and New Residential Investment Corp are still yielding more than 11 per cent....
...Instead, they shoulder financial risks on loans that are underwritten by commercial mortgage companies....
...If it sees you are buying dinners for two and overpriced bunches of flowers it might offer you a new (bigger) mortgage or a car loan....
...Credit spreads in mortgage-backed securities had widened to all-time highs and worries over Lehman's liquidity had caused a 31 per cent share price decline over the previous two days....
...Starting out with student loans, SoFi pushed into consumer loans, mortgages and wealth management, attracting huge slugs of equity funding from the likes of Japanese conglomerate SoftBank and private equity...
...But what started out as “a Facebook for loans”, in the words of one early backer, soon spread to other campuses and into other products such as mortgages and consumer loans....
...Ten years ago this week, France’s BNP Paribas barred investors from accessing money in funds with subprime mortgage exposure, citing a “complete evaporation of liquidity”....
...Since mid-June, when I first wrote about mortgage servicing rights, PennyMac Financial Services, one of the few public companies specialising in the area, has seen a rise in its stock price of more than...
...The Fed scooped up trillions of dollars of Treasuries and mortgage-backed securities during the crisis and has been reinvesting the proceeds of securities as they mature, maintaining its balance sheet at...
...One of the latter is PennyMac Financial Services, which was founded in 2011 by a group of ex-mortgage people at Countrywide, the US mortgage company that was acquired by Bank of America in 2008....
...(The best comparable for a marketplace lender like Lending Club is probably a mortgage banker like PennyMac Financial, which has a forward P/E of around 5.5x.)...
...The company was founded in 1998 to allow investment banks to trade government and corporate debt and swaps and mortgages with their customers like asset managers, central banks and insurers....
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