Recent Developments

General Information

With origination activity indefinitely suspended, the focus has been on servicing the existing portfolio of whole loans. Home price appreciation and record low mortgage interest rates continue to drive significant payoff activity. The number of mortgages in the portfolio fell by approximately 30 percent during the calendar year (from 4,134 loans at the beginning of the year to 2,907 mortgages as of Dec 31, 2014).