A&D Market Digest for 8/8/22

Alex Suslov, Head of Capital Markets, and Billy Abrams, President/CEO of ADM Securities, discuss recent and upcoming trends happening in the capital markets and their impact on the Non-QM market. Check out their discussion.

MARKET NEWS

• Inside Mortgage Finance — Mortgage Earnings Decline by 39% at Publicly Traded Banks. “A wide cross-section of banks involved in the residential mortgage market saw mortgage-related earnings fall in the second quarter of 2022. In an analysis of the earnings reports of 24 publicly traded banks, the depositories showed a total of $1.32 billion in mortgage earnings in the second quarter, down 38.5% from the previous quarter. Rising interest rates continued to take a toll on mortgage operations, cutting into both originations and margins.”
• NMN — Servicers anticipate further ramp-up in foreclosure activity. “Servicers are broadly expecting foreclosure activity to accelerate, but they think the increase will be relatively small, according to a new Auction.com survey. The vast majority or 74% anticipate a “slight” uptick in the next 12 months compared to what’s been seen so far this year, in line with other indicators showing mortgage default rates are on the rise but still below pre-pandemic levels. Only 15% of servicers are planning for a “substantial” increase in completed foreclosure volume, and 11% think activity will decrease. Just 3% are betting on a “substantial” drop, and 8% anticipate a “slight” decline.”

UPCOMING WEBINARS

NOTE: Beginning in mid-August, A&D Mortgage will be live streaming webinars on our Youtube, LinkedIn and Facebook pages, so keep an eye on those pages for the announced links and be sure to set a reminder for yourself!

Finding and Funding Rural and Manufactured Properties
🗓️ Tuesday, August 9, 2022
🕐 1 PM EST

Rural and manufactured properties comprise large untapped sectors of the American housing market that are often overlooked or marginalized. With concerns rising about affordable housing, join us for an informative discussion of loan programs that can help you provide cost-efficient homes to an underserved market.

REGISTER