UPB

Ocwen Financial Announces Full Year and Fourth Quarter 2023 Results

Retrieved on: 
Tuesday, February 27, 2024

Glen A. Messina, Chair, President and CEO of Ocwen, said, “In the fourth quarter we delivered another sequential quarter increase in adjusted pre-tax income, driven by our servicing segment, culminating in strong full year 2023 results in terms of both adjusted pre-tax income and adjusted ROE.

Key Points: 
  • Glen A. Messina, Chair, President and CEO of Ocwen, said, “In the fourth quarter we delivered another sequential quarter increase in adjusted pre-tax income, driven by our servicing segment, culminating in strong full year 2023 results in terms of both adjusted pre-tax income and adjusted ROE.
  • Our industry-leading servicing cost and operating performance, combined with our special servicing capabilities, positioned us to execute on opportunistic asset management transactions that were accretive to earnings.
  • A live audio webcast and slide presentation for the call will be available by visiting the Shareholder Relations page at www.ocwen.com .
  • Participants can access the conference call by dialing (888) 886-7786 or (416) 764-8658 approximately 10 minutes prior to the call.

KBRA Assigns Preliminary Ratings to Chase Home Lending Mortgage Trust 2024-RPL1 (CHASE 2024-RPL1)

Retrieved on: 
Wednesday, February 21, 2024

KBRA assigns preliminary ratings to nine classes of mortgage certificates from Chase Home Lending Mortgage Trust 2024-RPL1 (CHASE 2024-RPL1).

Key Points: 
  • KBRA assigns preliminary ratings to nine classes of mortgage certificates from Chase Home Lending Mortgage Trust 2024-RPL1 (CHASE 2024-RPL1).
  • The pool comprises 2,475 seasoned, re-performing residential mortgages with an aggregate unpaid principal balance (UPB) of $555.4 million as of the cut-off date (January 31, 2024).
  • The cut-off date UPB includes $62.2 million (11.2%) in non-interest-bearing deferred principal.
  • The mortgage pool consists mostly of pre-GFC legacy origination from Washington Mutual Bank (67.5%) and JPMorgan Chase Bank, National Association (JPMCB; 32.3%), with 93.2% of the loans originated between 2004 and 2008.

MFA Financial, Inc. Announces Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Thursday, February 22, 2024

MFA Financial, Inc. (NYSE:MFA) today provided its financial results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • MFA Financial, Inc. (NYSE:MFA) today provided its financial results for the fourth quarter and full year ended December 31, 2023.
  • Fourth Quarter 2023 Financial Results:
    MFA generated GAAP net income for the fourth quarter of $81.5 million, or $0.80 per basic and $0.76 per diluted common share.
  • MFA estimates the net effective duration of its investment portfolio at December 31, 2023 declined to 0.91 from 1.05 at September 30, 2023.
  • MFA Financial, Inc. plans to host a live audio webcast of its investor conference call on Thursday, February 22, 2024, at 11:00 a.m. (Eastern Time) to discuss its fourth quarter 2023 financial results.

Granite Point Mortgage Trust Inc. Reports Fourth Quarter and Full Year 2023 Financial Results and Post Quarter-End Update

Retrieved on: 
Wednesday, February 14, 2024

Granite Point Mortgage Trust Inc. (NYSE: GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter and full year ending December 31, 2023, and provided an update on its activities subsequent to quarter-end.

Key Points: 
  • Granite Point Mortgage Trust Inc. (NYSE: GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter and full year ending December 31, 2023, and provided an update on its activities subsequent to quarter-end.
  • A presentation containing fourth quarter and full year 2023 financial results can be viewed at www.gpmtreit.com .
  • Granite Point Mortgage Trust Inc. will host a conference call on February 15, 2024, at 11:00 a.m.
  • ET to discuss fourth quarter and full year 2023 financial results and related information.

Fannie Mae Announces the Results of its Thirtieth Reperforming Loan Sale Transaction

Retrieved on: 
Tuesday, February 13, 2024

WASHINGTON, Feb. 13, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the results of its thirtieth reperforming loan sale transaction.

Key Points: 
  • WASHINGTON, Feb. 13, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the results of its thirtieth reperforming loan sale transaction.
  • The terms of Fannie Mae's reperforming loan sale require the buyer to offer loss mitigation options to any borrower who may re-default within five years following the closing of the reperforming loan sale.
  • All purchasers are required to honor any approved or in-process loss mitigation efforts at the time of sale, including forbearance arrangements and loan modifications.
  • Fannie Mae will also post information about specific pools available for purchase on that page.

Fannie Mae Announces Sale of Non-Performing Loans

Retrieved on: 
Thursday, February 8, 2024

WASHINGTON, Feb. 8, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced its latest sale of non-performing loans as part of the company's ongoing effort to reduce the size of its retained mortgage portfolio, including the company's twenty-third Community Impact Pool (CIP). CIPs are typically smaller pools of loans that are geographically focused and marketed to encourage participation by non-profit organizations, minority- and women-owned businesses (MWOBs), and smaller investors.

Key Points: 
  • The one large pool includes approximately 1,689 loans totaling $247.3 million in unpaid principal balance (UPB), and the CIP includes approximately 38 loans totaling $10.5 million in UPB.
  • This sale of non-performing loans is being marketed in collaboration with BofA Securities, Inc. and First Financial Network, Inc., a woman-owned and -controlled business, as advisors.
  • Terms of Fannie Mae's non-performing loan transactions require the buyer of the non-performing loans to offer loss mitigation options designed to be sustainable for borrowers.
  • Fannie Mae will also post information about specific pools available for purchase on that page.

PennyMac Financial Services, Inc. Reports Fourth Quarter and Full-Year 2023 Results

Retrieved on: 
Thursday, February 1, 2024

PennyMac Financial Services, Inc. (NYSE: PFSI) today reported a net loss of $36.8 million for the fourth quarter of 2023, or $(0.74) per share on a diluted basis, on revenue of $361.9 million.

Key Points: 
  • PennyMac Financial Services, Inc. (NYSE: PFSI) today reported a net loss of $36.8 million for the fourth quarter of 2023, or $(0.74) per share on a diluted basis, on revenue of $361.9 million.
  • Book value per share decreased to $70.52 from $71.56 at September 30, 2023.
  • PFSI’s Board of Directors declared a fourth quarter cash dividend of $0.20 per share, payable on February 23, 2024, to common stockholders of record as of February 13, 2024.
  • “The net loss in the fourth quarter was primarily driven by a one-time accrual related to the award in our long-running arbitration with Black Knight.

PennyMac Mortgage Investment Trust Reports Fourth Quarter and Full-Year 2023 Results

Retrieved on: 
Thursday, February 1, 2024

PennyMac Mortgage Investment Trust (NYSE: PMT) today reported net income attributable to common shareholders of $42.5 million, or $0.44 per common share on a diluted basis for the fourth quarter of 2023, on net investment income of $84.8 million.

Key Points: 
  • PennyMac Mortgage Investment Trust (NYSE: PMT) today reported net income attributable to common shareholders of $42.5 million, or $0.44 per common share on a diluted basis for the fourth quarter of 2023, on net investment income of $84.8 million.
  • PMT previously announced a cash dividend for the fourth quarter of 2023 of $0.40 per common share of beneficial interest, which was declared on December 6, 2023, and paid on January 26, 2024, to common shareholders of record as of December 29, 2023.
  • “Book value per share net of the dividends was up 2 percent from the prior year end, driven by both PMT’s strong financial performance as well as our unwavering commitment to managing interest rate risk.
  • At the same time, we will remain disciplined in our approach to managing capital and interest rate risk, positioning PMT to continue delivering attractive risk-adjusted returns to its shareholders.”
    The following table presents the contributions of PMT’s segments, consisting of Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production, and Corporate:

Fannie Mae Announces Winner of Twenty-Second Community Impact Pool of Non-Performing Loans

Retrieved on: 
Tuesday, November 21, 2023

WASHINGTON, Nov. 21, 2023 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the winning bidder for its twenty-second Community Impact Pool (CIP) of non-performing loans.

Key Points: 
  • WASHINGTON, Nov. 21, 2023 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the winning bidder for its twenty-second Community Impact Pool (CIP) of non-performing loans.
  • The transaction is expected to close on January 22, 2024, and includes approximately 61 loans totaling $18.4 million in unpaid principal balance (UPB).
  • The loans are geographically focused in the New York area, and the winning bidder was 510 Residential Loan Acquisition V LLC (400 Capital).
  • Fannie Mae will also post information about specific pools available for purchase on that page.

Granite Point Mortgage Trust Inc. Reports Third Quarter 2023 Financial Results and Post Quarter-End Update

Retrieved on: 
Tuesday, November 7, 2023

Granite Point Mortgage Trust Inc. (NYSE: GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter ending September 30, 2023, and provided an update on its activities subsequent to quarter-end.

Key Points: 
  • Granite Point Mortgage Trust Inc. (NYSE: GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter ending September 30, 2023, and provided an update on its activities subsequent to quarter-end.
  • A presentation containing third quarter 2023 financial results can be viewed at www.gpmtreit.com .
  • Book value per common share was $13.28 as of September 30, 2023, inclusive of $(2.89) per common share total CECL reserve.
  • Granite Point Mortgage Trust Inc. will host a conference call on November 8, 2023, at 12:00 p.m.