Volume 19 - Number 4
February 13, 2015
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Having a busy correspondent program helped many of the top agency mortgage sellers cultivate purchase-mortgage business in 2014, according to a new Inside Mortgage Trends analysis of loan-level data on loans securitized by Fannie Mae, Freddie Mac and Ginnie Mae. Mortgages originated by loan correspondents accounted for 35.3 percent of single-family loans securitized by the agencies last year. Retail originations were the ... [Includes two data charts]
Mortgage loan officers are a hot commodity these days, but recruiting top producers is becoming problematic thanks to low interest rates and swelling pipelines. In short, many LOs are reluctant to accept an enticing new salary and bonus because they don’t want to leave money on the table when they depart. “It’s a trend that’s happening now,” said Chris George, president of CMG Mortgage, one of California’s largest privately held nonbanks ...
Industry economists expect modest gains in home sales and a spurt in single-family housing starts in 2015, but the market likely won’t reach full strength until next year. Fannie Mae is forecasting a 5.8 percent increase in total home sales from 2014 levels, with most of the increase coming in the smaller new-home category. The near-term outlook for sales is soft, the government-sponsored enterprise said in a new outlook, based on recent indicators such as ...
Using “probability of default” values instead of credit scores to measure risk in a mortgage securitization can provide far more insight and dramatically cut loss exposure, according to a new white paper from VantageScore Solutions, a joint initiative created by the three major credit bureaus, Equifax, Experian and TransUnion. “Loan securitization has become an essential source of capital for consumer lenders of all sizes, playing a significant role in ...
Lender-placed insurance continues to simmer amid regulatory scrutiny and ongoing court battles, according to a recent BuckleySandler analysis. While the largest LPI class-action lawsuits have settled, servicers and LPI providers remain entangled in appeals of those settlements and in individual borrower lawsuits, said authors Robyn Quattrone and Stephen LeBlanc, partner and associate, respectively, with the Washington, DC, law firm. In addition, federal ...
Cash-out refinance mortgages accounted for a slightly larger share of the conventional refi market in 2014, according to Freddie Mac’s annual refinance report. The government-sponsored enterprise estimated that cash-out deals accounted for 6.8 percent of total refinance lending last year, up from 3.7 percent in 2013. It was the highest cash-out share since 2009. During the go-go years of 2005-2007, cash-out transactions accounted for more than ...
A ranking of the top 50 nonbank servicers of agency mortgage-backed securities in the fourth quarter of 2014. Includes a break-out of Fannie Mae, Freddie Mac and Ginnie Mae for each servicer.
- GSE Seller Profile: 4Q14
- GSE Private Mortgage Insurance Profile 4Q14
- Mortgage Profitabiilty 3Q14
- Top Players 3Q14
Most Popular Stories
- Mortgage Brokers Stage Mini-Comeback in Market Share
- Walter Reports a $44 Million Loss, Revenue Declines, and a Regulatory Settlement with the CFPB
- Nationstars Profit Drops 82 Percent, Originations Fall; However, $35B of MSR Deals Revealed
- Over Two Years, JPM Has Slashed Mortgage Staff by 41 Percent
- Appraisal and Property Issues Accounting for Larger Share of Closing Delays