Flávia Nunes

New York

Mortgage Reporter at HousingWire

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Articles

Mortgage demand dips over holiday but keeps yearly momentum

4 days ago | housingwire.com | Flávia Nunes

Some top LOs have also observed an increase in volume this year, despite volatility in the market. Chicago-based Benjamin Cohen, who works at Rate, reported a 36% year-over-year increase in his business volume, which includes 20% to 25% for nonqualified mortgages (non-QMs). “People know interest rates aren’t 3% anymore, so I don’t think that’s an issue.
GSEs could go public while staying under government control

4 days ago | housingwire.com | Flávia Nunes

The idea was recently floated by Federal Housing Finance Agency (FHFA) Director Bill Pulte in media interviews. An agency spokesperson confirmed it to Bloomberg, saying that studies are underway on how to take the companies public, including the option of doing so while they remain in conservatorship. “In any scenario, we will ensure the mortgage-backed securities market is safe and sound and that there is no upward pressure on rates,” the spokesperson told Bloomberg.
Judge dismisses insider trading suit against Rocket's Dan Gilbert

4 days ago | housingwire.com | Flávia Nunes

The lawsuit stemmed from two complaints, one filed by the Doris Shenwick Trust in November 2021 and another by investor Christopher Vargoshe in February 2022. The plaintiffs claimed Gilbert pocketed $500 million by selling company stock ahead of Rocket reporting poor earnings and guidance. The case was heard in the Delaware Chancery Court.
Rocket to issue $4B in debt amid Redfin, Mr. Cooper deals

5 days ago | housingwire.com | Flávia Nunes

The offering includes $2 billion in unsecured senior notes due in 2030 and another $2 billion due in 2033, available to qualified institutional buyers. Initially, the notes will be guaranteed by Rocket Mortgage, and upon deal completion, by certain Redfin and Mr. Cooper entities as well. Rocket disclosed its proposed $1.75 billion acquisition of Redfin and $9.4 billion deal for Mr. Cooper in March.
PennyMac, loanDepot tap debt markets with senior notes

5 days ago | housingwire.com | Flávia Nunes

PennyMac will issue unsecured senior notes due in 2030, following an $850 million offering by PennyMac Financial Services in an oversubscribed transaction earlier in May. The company plans to use the proceeds to invest in subordinated bonds from its private-label securitization (PLS) activities, acquire mortgage servicing rights (MSRs), and fund its correspondent lending business by purchasing agency-eligible mortgages.
GSEs could act 'private’ and remain in conservatorship

5 days ago | housingwire.com | Flávia Nunes

“Quite honestly, Fannie Mae and Freddie Mac are acting pretty good right now. It’s been working pretty well. [They] spit off a lot of cash to the government,” Ishbia said in a video posted to YouTube on Monday. His comments follow recent posts by President Donald Trump on Truth Social, where he raised the possibility of releasing the government-sponsored enterprises (GSEs). On May 21, Trump said he was giving “serious consideration” to doing so.
Americans tapped $25B in home equity in Q1 2025

6 days ago | housingwire.com | Flávia Nunes

U.S. homeowners tapped nearly $25 billion in home equity through second-lien mortgages during the first quarter of 2025 — the largest volume for this period in 17 years, according to the ICE Mortgage Technology‘s newest Mortgage Monitor report. That marks a 22% increase compared to the same quarter last year.
Inside Movement Mortgage's MSR sales strategy

1 week ago | housingwire.com | James Kleimann |Flávia Nunes

HousingWire reported earlier this month that Movement sold a $5 billion MSR package to an unknown buyer on May 7 consisting of agency loans. Sources later provided HousingWire an email authored by company president Steve Smith that stated Movement executed a trade in May to sell $4.4 billion UPB of government MSRs to Freedom Mortgage. It’s unclear if it’s the same trade. Movement did not respond to HousingWire’s request for comment. Freedom also did not comment on the transaction.
Mortgage subservicing is having a makeover moment

1 week ago | housingwire.com | Flávia Nunes

Fueling this moment is a persistently high interest rate environment, which has increased the value of mortgage servicing rights (MSRs) — the asset outsourced to subservicers — due to slower prepayment speeds. For subservicers, managing loans can generate stable income through fees, and when agreements allow and align with their strategy, it opens doors for cross-selling activity.
CHLA offers support for Pulte’s position on FICO pricing

1 week ago | housingwire.com | Chris Clow |Flávia Nunes

FHFA and the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac not only require credit scores for the production of mortgages, but they specifically cite FICO in their guidelines, according to the letter. The past 30 months have seen FICO raise its credit score prices by 700%, and the company has not lost market share due to its dominant position, CHLA said.