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NYCB, a struggling $78B resi mortgage servicer, to receive $1B equity investment

Housing Wire

Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital , will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. billion goodwill impairment. .” billion, with a coverage ratio of 163%.

Equity 438
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Property services company MCS enters reverse mortgage space

Housing Wire

has been in business for more than 50 years and offers regulatory compliant default, rental and real estate-owned (REO) residential and commercial property preservation services. Five Brothers, headquartered in Warren, Mich., These include services for the reverse mortgage industry, marking MCS’ initial entry into the sector.

Mortgages 448
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Finance of America announces debt restructuring, staving off 2025 maturity risk

Housing Wire

The first is for up to $200 million in aggregate principal of senior secured first-lien notes due in 2026, while the second is for up to $150 million in aggregate principal of exchangeable senior first-lien notes due in 2029. FOA is optimistic about the ultimate results the move will have, according to its announcement.

Finance 415
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HECM study examines borrower trends over two decades

Housing Wire

Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. A study commissioned by the U.S. million HECM loans between Oct. 1, 1999, and Sept.

Equity 459
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FOA announces amendment and update for bond exchange offer

Housing Wire

FOA also advised that any investors who participate could receive “a cash fee equal to 0.25% of the aggregate principal amount of outstanding 2025 unsecured notes that are exchanged,” according to the announcement. Anyone with potential interest in the agreement must signal their intent to participate by 5 p.m.

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Announcing the 2024 Women of Influence!

Housing Wire

Lucie Realtors Donna Schmidt Chief Executive Officer DLS Servicing Donna DelMonte Executive Vice President of Operations LoanStream Mortgage Erica Acie Head of Retail Originations Truist Erica Vigen Senior Product Manager, Real Estate Analytics Clear Capital Erin Sheckler Head of National Commercial Services Stewart Erin Wester Vice President of Product (..)

Lending 493
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Private-label securities are in demand as investors bet Fed peak is reached

Housing Wire

Upward adjustment The Kroll Bond Rating Agency (KBRA) issued a recent report covering what it calls RMBS 2.0 — encompassing the prime jumbo, nonprime/non-QM and home equity lending space, as well as credit-risk transfer deals. The report revealed that January 2024 PLS issuance totaled $7.5 billion, up 81% from the same month last year.

Investor 448