Bonnie Sinnock

New York

Capital Markets Editor at National Mortgage News

Capital Markets Editor National Mortgage News @NatMortgageNews an Arizent publication @Arizent_co I write about mortgages - and more [email protected]

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Articles

TCB appeals ruling for Ginnie Mae in lawsuit over collateral

2 days ago | nationalmortgagenews.com | Bonnie Sinnock

Texas Capital Bank followed through with its planned appeal of a federal district court ruling in a lawsuit with Ginnie Mae over Home Equity Conversion Mortgage assets, according to a new filing. TCB filed a brief notice this week that it has moved the fight against the government corporation to the 5th U.S. Circuit Court of Appeals. U.S. District Judge Matthew Kacsmaryk of Texas' Northern District previously dismissed the case with prejudice, preventing its return to his court.
MBA requests originations, servicing rules rollback from OMB

3 days ago | nationalmortgagenews.com | Bonnie Sinnock

The Mortgage Bankers Association has responded to the Office of Management and Budget's request for information on "unnecessary, unlawful, unduly burdensome and unsound rules" with several origination and servicing policy suggestions. There already has been pullback from some of the policies the association is calling for the Office of Management and Budget to rescind, with the suggestions aimed at putting a more definitive end to these where the OMB has the authority to do so.
Ellington Financial gains despite Longbridge recording loss

1 week ago | nationalmortgagenews.com | Bonnie Sinnock

Ellington Financial's bottom line improved in the first quarter even though one of its units recorded a loss due to expenses associated with hedging risk in a tough market. The company earned $31.6 million under standard accounting principles during the period, up from $22.4 million in the previous quarter. A year earlier, it had recorded $26.9 million in quarterly net income. Its Longbridge unit took a $1 million net loss for the first quarter of 2025.
Tariffs trigger financial fears: homeowners seek equity solutions

1 week ago | nationalmortgagenews.com | Bonnie Sinnock

Much of Main Street shares Wall Street's concerns about the impact of new duties the United States has been planning to impose on other countries as a negotiating tactic, which President Trump has acknowledged could put temporary strain on consumers. Nearly one quarter or 74% of consumers that home-equity investment platform Point surveyed fear tariffs could raise the costs of foreign goods in ways that could hurt their finances in the next 12 months, and 82% are anticipating a U.S. recession.
Fed's inaction leaves rates in a middle ground for mortgages

1 week ago | nationalmortgagenews.com | Bonnie Sinnock

Federal officials met consensus expectations and left monetary largely unchanged on Wednesday, disappointing some in the industry anticipating tariff-related pessimism could prompt a downward rate move, but their inaction could nevertheless have a short-term upside for lenders.
Finance of America's volume rises in mixed market conditions

1 week ago | nationalmortgagenews.com | Bonnie Sinnock

Finance of America recorded a net earnings increase for continuing operations during the first quarter when increased loan volume and positive fair value adjustments offset the impact of wider spreads. The company recorded $80 million in net income on that basis, which it made the focus of its quarterly press release. The latest figure compared a $16 million net loss from continuing operations a year earlier, according to Chief Financial Officer Matt Engel.
How new VA partial claim fared in House Committee markup

1 week ago | nationalmortgagenews.com | Bonnie Sinnock

The House Committee on Veterans Affairs marked up a bill on Tuesday that would institute a successor to a last-resort relief program for distressed borrowers that ended this month. The VA Home Loan Reform Act would create a new form of the partial claim used during the pandemic. The original partial claim's successor, the VA servicing purchase program, just ended.
Angel Oak: How non-qualified mortgages fared in tough market

1 week ago | nationalmortgagenews.com | Bonnie Sinnock

Angel Oak Mortgage REIT emerged from the first quarter's market turbulence with a gain under standard accounting principles despite the challenging conditions. The real estate investment trust reported $20.53 million in net income in the quarter, up from $12.87 million a year earlier and a $15.06 million loss the immediately preceding fiscal period even with the market disruption. The real estate investment trust beat a S&P Capital IQ consensus estimate that it would earn $6.14 million.
Mortgage jobs dip, overall hiring points to stable rates

2 weeks ago | nationalmortgagenews.com | Bonnie Sinnock

The net positive gains to U.S. employment persisted to a surprising degree in the latest Bureau of Labor Statistics numbers, maintaining a neutral mortgage rate outlook. Industry hiring wavered in a tepid homebuying season in which the addition of 177,000 jobs to total employment in April was better than expected given federal cuts. Consensus expectations had been that the U.S. would add 135,000 jobs, down from 228,000 last month.
How nonbank mortgage companies cope with market uncertainty

2 weeks ago | nationalmortgagenews.com | Bonnie Sinnock

Uncertainty around federal policy and tariffs has rocked the capital markets this year, and that has added to challenges for the mortgage industry, but there's a silver lining for larger nonbank players. Companies like United Wholesale Mortgage, Pennymac, Rocket, Mr. Cooper, Loandepot, Provident, Freedom and Planet Financial are in a good position to weather the market's volatility and gain market share through accelerated consolidation, according to Fitch Ratings.