JPMorgan Chase will soon be issuing its first non-prime MBS secured exclusively by investor loans that are underwritten based on rental income. JPMorgan Mortgage Trust 2022-DSC1 is secured by 980 debt service coverage ratio (DSCR) loans with a balance of $308.2 million, according to a … Continue readingJPMorgan Chase gets into the DSCR MBS game
Pure wholesale lender Homepoint will provide a $500 credit on appraisal costs for borrowers buying primary homes that are designated as Fannie Mae HomePath properties, the company announced on Monday. This is the second initiative to be launched by the Ann Arbor, Michigan-based company this … Continue readingHomepoint offers $500 credit on appraisals for primary homes
Many lenders are not getting a sense of déjà vu with the current mortgage industry downturn, according to mortgage advisory firm Stratmor Group. “This one feels different,” a recent Stratmor report states, citing executives in the mortgage industry. This time around, the fast mortgage rate … Continue readingLenders aren’t getting déjà vu with the current downturn, so what’s different?
In mid-November, the Federal Bureau of Investigations released its 2022 Congressional report on business email compromise (BEC) and real estate wire fraud. According to the report, in 2021, the Internet Crime Complaint Center (IC3) received BEC-related complaints with claimed losses exceeding $2.4 billion, far higher … Continue readingBEC accounted for $2.4 billion in claimed losses in 2021
NAV Increased to $13.96 per share from $12.00 per share, a 16% increase SALT LAKE CITY–(BUSINESS WIRE)–The RealSource Properties Inc. REIT has raised its net asset value (‘NAV’) to $13.96 from $12.00. The updated valuation represents an increase of $1.96 or 16.3% from its prior … Continue readingRealSource Properties Multifamily REIT Announces an Increase in Net Asset Valuation
Last week the Wall Street Journal published a story by Andrew Ackerman stating that the Biden administration wants to target nonbanks for tougher oversight and additional regulation. The story states, “the Biden administration is laying the groundwork to target nonbank firms with stricter federal oversight … Continue readingOpinion: We don’t need increased regulation of IMBs