Volume 18 - Number 14
July 11, 2014
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The rebound in new business at Fannie Mae and Freddie Mac during the second quarter of 2014 was fueled by a hefty increase in purchase-mortgage activity, but it also featured clear shifts in the volume of loans coming from different kinds of lenders. A new Inside Mortgage Trends analysis of loan-level data on mortgage-backed securities issued by the two government-sponsored enterprises shows that nonbank lenders continued to ... [Includes 3 data charts]
By now, the word is out: the Federal Housing Finance Agency is exploring codifying capital minimums for nonbank servicers as a way to help Fannie Mae and Freddie Mac better manage counterparty risk. Industry officials tracking the topic told Inside Mortgage Trends they don’t believe the FHFA is necessarily worried about the capital positions of the big three nonbanks: Nationstar Mortgage, Ocwen Financial, and Walter Investment Management ...
Walter Investment Management took steps last week to transition to a business model that requires less capital by funding Walter Capital Opportunity and completing an excess servicing spread sale with WCO. WCO is a real estate investment trust that Walter formed in November to hold mortgage servicing rights. Last week, WCO acquired 70 percent of the excess servicing spread from a pool of loans serviced by Green Tree Servicing ...
The decline in refinance activity in the past year has prompted a closer look at differences in interest rates as lenders compete for borrowers. Lenders that don’t offer the lowest rate suggest that there’s more to the mortgage decision than just a low interest rate, particularly because rates are at historic lows. LendingTree, a firm that allows potential borrowers to compare loan offers, recently launched an ongoing study to track the difference between ...
The next gold rush in the mortgage industry may be home loans that fall outside the legal safe harbor for qualified mortgages under new rules that took effect in January. And like any bonanza, it’s hard to tell how big the mother lode is. According to Deutsche Bank Securities, it could be a staggering $600 billion a year, but that estimate comes with a lot of caveats. For starters, Deutsche Bank estimated that about $52 billion of 2013 mortgage originations were ...
Mortgage professionals continue to face a tough job market, but they can still find gainful employment depending on what their position is. No one is completely secure in the current economic environment, although mortgage brokers and loan officers may have the best standing. “Demand for key talent has suddenly spiked,” said Rick Glass, a principal in R.T. Glass & Associates of California, a mortgage recruiting firm. Mortgage brokerage firms added ...
Sun Bancorp, a $3.5 billion banking institution in New Jersey, is leaving the retail mortgage banking business and cutting back on direct home-equity lending due to declining profitability and tighter regulation. The moves are part of a comprehensive plan presented by Thomas O’Brien, Sun Bancorp’s new president and chief executive officer, who was brought on board as a consultant in April to restructure the company and ... [Includes one data chart]
- GSE Seller Profile: 2Q14
- Top Mortgage Players: 1Q14
- Agency Condo Market: 2013
- Mortgage Profitability Report: 4Q13
- GSE Private Mortgage Insurance Profile 1Q14
- GSE Repurchase Activity Full Year 2013
- Servicing Strategies and MSRs
- Non-Qualified Mortgages
- CFPB Exam and Enforcement
- Mortgage Buybacks Guide 2014
- Mortgage Originations Channels
- CFPB Mortgage Disclosure Requirements
- Qualified Residential Mortgages and Risk Retention
- CFPB's LO Comp Rule
- Ability-to-Repay Rule and Qualified Mortgages
- Fair Lending Compliance
- CFPB Regulation of Mortgage Servicing
Most Popular Stories
- 60-Year Old Northeast Mortgage Company Hits the Auction Block
- Short Takes: More Gripes About the FHFA IG Report on Nonbanks / Will the MI Biz Shift back to FHA? / GSE REO Contractor Accused of Discrimination / Ellie Mae Signs Fat Lease / A Rise in Mortgage Applications but Can it Last?
- CFPB Proposes Adding Unvetted Customer Narratives to Complaint Database
- Prospect Mortgage Still Scouring for Lenders to Buy?
- Issuance of Re-REMICs on the Rise in 2014