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Browse articles from all of our Newsletters related to Market Data.

September 23, 2016 - Inside FHA/VA Lending

Liquidity, Net Worth Issues Persist But Nothing Ginnie Can’t Manage

Ginnie Mae continues to wrestle with issuers lacking liquidity and net worth although the number of such cases has gone down significantly, thanks to tight oversight, according to the agency’s top counterparty risk officer. Briefing participants at this year’s Ginnie Mae summit in Washington, DC, Zack Skochko, director of counterparty risk, reported that some issuers are still struggling to comply with Ginnie Mae’s liquidity and net worth requirements.A number of small issuers failed their liquidity and net worth audits this year by not maintaining the minimum $1 million cash or 10 basis points of outstanding Ginnie securities required to participate in the agency’s mortgage-backed securities program. Ginnie Mae also requires issuers to meet a minimum net worth of $2.5 million plus 35 bps of the issuer’s total effective single-family obligations The requirements were designed to ensure that the ...

September 23, 2016 - IMFnews

The New Breed of Nonprime Lenders See Plenty of Room for Growth

Tom Hutchens, SVP of sales and marketing at Angel Oak, said originations of nonprime non-QMs have predominantly been purchase mortgages. However, refinance activity is starting to increase…

September 23, 2016 - IMFnews

More Purchase Loans Not Closing on Time. The Culprit: A Shortage of Appraisers

More bad news on appraisals: the on-time closing share has declined for four consecutive months…

September 23, 2016 - IMFnews

Foreign Investors, Others Beef Up Their Investment in Agency MBS

According to Treasury Department reports, overseas investors held $821.3 billion of Fannie, Freddie and Ginnie MBS at the end of June, a 5.0 percent increase from March.

September 22, 2016 - IMFnews

CFPB Chief Cordray Gives Kudos to Credit Unions on their Mortgage Performance

The improved numbers suggest that the industry’s fears those rules would crush or even depress the market somewhat were overblown.

September 22, 2016 - IMFnews

And the Beat Goes On: Banks Continue to Cede MSR Business to Nondepositories

Meanwhile, bank whole loan portfolios have been increasing – largely because of the resurgence of jumbo mortgage originations, along with the recovery in home-equity lending.

September 21, 2016 - IMFnews

Freddie Mac Predicts a 3Q16 Production Boom of $595 Billion

Freddie expects originations to hit $2.0 trillion this year, a 14.3 percent sequential improvement…

September 20, 2016 - IMFnews

CFPB’s TRID Rule Gets the Blame for a Rise in Mortgage Defects

In fact, these two categories are responsible for more than 75 percent of all defects.

September 20, 2016 - IMFnews

On the Rise Again: Bank Repurchases of Mortgages

All of the second-quarter increase can be attributed to Bank of America, which reported $372.0 million in repurchases for the period – up $67.0 million from the first quarter.

September 19, 2016 - IMFnews

Ginnie Chief Tozer Lays it on the Line About MSR Values, Liquidity

Senior Vice President of Issuer and Portfolio Management Michael Drayne said recently the revised acknowledgement agreement could be ready by the end of September.

September 19, 2016 - IMFnews

GSEs Have A Strong August; Market Share Gains?

Fannie and Freddie could top last year’s $824.8 billion in single-family MBS issuance by the time 2016 is over…

September 16, 2016 - Inside The GSEs

GSE MBS Issuance Up Again in August, Market Share Improved

Fannie Mae and Freddie Mac saw a solid 10.0 percent increase in production of single-family mortgage-backed securities in August, and there are signs that the GSEs are regaining some lost market share as well. The two GSEs issued $91.59 billion of single-family MBS last month, their highest monthly total since August 2013. Interestingly, most of the increase came from rising refinance activity. The flow of refi loans is up 14.0 percent at Fannie and 8.7 percent at Freddie, while purchase-mortgage business rose 9.9 percent and 6.3 percent, respectively, at the two firms. Two thirds of the way through 2016, GSE single-family business was still down slightly from the first eight months of last year.

September 16, 2016 - IMFnews

Guess Who Benefits from a Rate Rise? Answer: Nonprime Lenders

What’s the market potential for nonprime/non-QM lending? Maybe $100 billion a year…

September 16, 2016 - IMFnews

Bank Holdings of Non-Mortgage ABS Declined Again in 2Q16; Market Grew Slightly

Banks held about 18.6 percent of total ABS outstanding.

September 16, 2016 - IMFnews

Who Controls the Jumbo Market? Answer: Retailer Lenders, By Far

The analysis, the first of its kind, was based on new Inside Mortgage Finance surveys that drew results from a broad sample of banks and nonbanks of all size classifications.

September 15, 2016 - IMFnews

Two More Lenders Report Record Production in August: Freedom and Pac Union

The third quarter has yet to end and the big question for the industry boils down to this: Will 3Q be better than 2Q?

September 15, 2016 - IMFnews

Lenders Fund $53.5 Billion of Home-Equity Loans in 2Q16, Best Showing Since the Financial Crisis

Meanwhile, as home equity originations improve, the outstanding supply of home-equity debt continues to decline.

September 14, 2016 - IMFnews

When it Comes to Refis, VA-Backed Mortgages Lead the Pack – By Far

There is no clear explanation as to why VA rates are lower than the competition, but some industry participants, including Tom Piercy of Incenter Mortgage Advisors, speculate prepayments might be the reason.

September 13, 2016 - IMFnews

Ginnie Mae Issuance Hits A Yearly High in August

Despite shying away from FHA production, Wells Fargo remained a top Ginnie issuer, closing August with $3.83 billion and ranking third overall.

September 12, 2016 - IMFnews

Feeling Quite Optimistic About Originations: 91 Percent Say 2H Will Be Better Than 1H

Thank you 'Brexit:' Some analysts now believe the industry will surpass 2015’s origination total of $1.735 trillion.

September 12, 2016 - IMFnews

Large Gain in Wholesale Originations at Nonprime Lender Angel Oak

Angel Oak also has a much smaller division, Angel Oak Prime Bridge, that originates nonprime mortgages for investment properties.

September 12, 2016 - IMFnews

Bank-Retained Mortgage Portfolios Keep Growing; Few Jumbos Going into MBS

Meanwhile, while the jumbo securitization rate during the quarter was a paltry 0.8 percent…

September 9, 2016 - IMFnews

What We’re Hearing: A Shortage of Mortgage Underwriters? / In Demand: Top Mortgage Dogs / Record Originations at Some Shops – Thanks to Brexit / A $600 Billion Quarter? / Impac Returns to the Well / Who Might MBA’s Dave Stevens Vote For? (Follow the Money)

Meanwhile, one mortgage executive told us that earlier in the year Impac approached his shop about a sale. This executive, who did not want his company identified, turned Impac down…

September 9, 2016 - IMFnews

United Wholesale Mortgage Joins the ‘Record Production Month Club’

From July to August, UWM grew its production by roughly 40 percent, noted company CEO and President Mat Ishbia…

September 9, 2016 - IMFnews

Agency MBS Issuance Up Again in August – Six Straight Months of Increases

Fannie, Freddie and Ginnie issued a combined $138.25 billion of single-family MBS in August, their strongest aggregate monthly output since July 2013.

September 8, 2016 - IMFnews

UI: It’s Time for Lenders to Loosen Underwriting. (Delinquencies Over the Past Five Years are Just too Good.)

UI’s Laurie Goodman said borrowers who took out mortgages in the past five years are better at paying their mortgages than any other group of mortgage borrowers in history.

September 8, 2016 - IMFnews

Surge in Purchase-Mortgage Lending Fueled 2Q16 Production Boom

- The average credit score for purchase mortgages securitized by Fannie Mae, Freddie Mac and Ginnie Mae during the second quarter was 722.8, down a few points from the first quarter.

September 7, 2016 - IMFnews

Quicken Sets New Monthly Origination Record, but…

JPM, though, relies heavily on correspondent loan purchases to gather loans while Quicken bills itself as a direct-to-consumer/retail lender.

September 7, 2016 - IMFnews

CFPB Examinations of Nonbank Mortgage Lenders Spike 220 Percent

For depositories, the data generally show more overall scrutiny from the CFPB as well…

September 7, 2016 - IMFnews

Bank MSR Holdings Fall Below $4 Trillion. Is $3 Trillion Next?

Only two of the top 10 banks as ranked by “servicing for others” have been in growth mode: PNC Bank and SunTrust.

September 6, 2016 - IMFnews

Going, Going but Not Quite Gone: GSE Buyback Demands

The GSE buyback total was down 20.6 percent from the first quarter…

September 2, 2016 - IMFnews

HUD Offers $1.7 Billion of NPLs; Auction Marks First ‘Set-Aside’ for Non-Profit Bidders

HUD has been criticized by consumer advocates who feel the agency's NPL auctions have unfairly benefitted private equity firms and hedge funds at the expense of troubled borrowers.

September 1, 2016 - IMFnews

Short Takes: ‘Fix n Flip’ Lender Jordan Should Have a Record Year / Help Wanted: SVP of Sales / Nonprime Retail Firm Angel Oak Continues Expansion / Declining MSRs at Prospect Mortgage / Luther Hires Former Finance of America Official

Retail nonprime/non-QM originator Angel Oak Home Loans is continuing its national expansion...

August 31, 2016 - IMFnews

Some Lenders Expect to Set New Production Records in August

One originator described August’s activity as “busy, crazy busy…”

August 31, 2016 - IMFnews

Steady as She Goes in Subservicing Market. Cenlar Continues to Dominate

Certain subservicers, including Nationstar Mortgage, continue to solicit others to shift their servicing chores over to them…

August 30, 2016 - IMFnews

MBA: Servicing Losses Worsen by 36 Percent, But Origination Profits Rise 104 Percent

The results should surprise few: big gains on production, losses on servicing…

August 30, 2016 - IMFnews

Subservicer Statebridge Nearly Doubles Contracts to $2.60 Billion

FrontRange Capital first invested in Statebridge back in 2013. The money allowed the subservicer to buy out its then-owner, Integrated Asset Services.

August 30, 2016 - IMFnews

The Six-Month Tally: FHA Production Up 8.4 Percent, VA by Almost 13 Percent

It was the highest three-month total for government-insured lending on record, although private mortgage insurance did more business in the second quarter than either FHA or VA…

August 29, 2016 - IMFnews

Short Takes: Just Because You’re Kicked Off the NYSE, That Doesn’t Mean… / Buying an MB for Diversification Purposes / A 10 Percent Broker Market Share and Holding / Clayton and Angel Oak / Nationstar is Hiring!

The nation's fourth largest servicer, Nationstar Mortgage, will hold a job fair on Sept. 12 at the Maude Cobb Convention Center in Longview, TX.

August 29, 2016 - IMFnews

REIT MBS Holdings Up Modestly in 2Q16, but…

Annaly Capital Management remained the top REIT MBS investor despite an 0.8 percent drop in its portfolio.

August 29, 2016 - IMFnews

Jumbo Originations Increase Sharply in 2Q as Megabanks Turn on the Gas

Marianne Lake, Chase’s CFO, said jumbos are the bank’s “first priority” among mortgage originations.

August 26, 2016 - Inside FHA/VA Lending

Wait Time for Evaluating, Deploying Home-Retention Options Reduced

The FHA has announced new streamlined procedures to help delinquent homeowners avoid foreclosure and stay in their homes. The agency is revising loss-mitigation procedures servicers use when evaluating and choosing the best home-retention options for delinquent borrowers by reducing waiting time for results. The new streamlined procedures are designed to enhance servicers’ ability to evaluate foreclosure-avoidance alternatives, especially for the FHA-Home Affordable Modification Program (FHA-HAMP). Specifically, FHA will require servicers to convert successful three-month trial modifications into permanent modifications within 60 days instead of the average four to six months. Borrowers who have three missed mortgage payments would be able to opt for a partial claim to bring their arrearages current versus the previous four-month minimum. In addition, the FHA will eliminate the ...

August 26, 2016 - Inside FHA/VA Lending

Purchase Lending Fires Up FHA in First Half, Refis Push VA Volume

FHA saw a modest rise in originations midway through 2016 compared to the same period last year, but VA did a lot better with a double-digit increase in loan production, according to an analysis of Ginnie Mae data. Lenders delivered $123.0 billion of FHA-insured loans to Ginnie pools during the first half of 2016, up 8.4 percent from the previous year. FHA’s midyear production was driven by a surge in purchase-mortgage lending in the second quarter, which also pushed volume higher for VA as well as conventional-conforming mortgages. Government-backed lending rose 32.3 percent from the first quarter to approximately $131.0 billion in second-quarter originations, according to Inside Mortgage Finance, an affiliate publication of Inside FHA/VA Lending. It was the highest three-month total for government-insured lending on record, although private mortgage insurance did more business in the ... [2 charts]

August 26, 2016 - IMFnews

Mortgage Securitization Rate Drifts Slightly Lower in 2Q16, Remains Well Below Post-Crash High

Fannie Mae and Freddie Mac are seeing some competition for eligible mortgages from portfolio lenders…

August 25, 2016 - IMFnews

Retail Market Share Hits a Two-Year High

The wholesale-broker market held its ground, maintaining a 10.0 percent share of new originations, Inside Mortgage Finance found.

August 24, 2016 - IMFnews

Delinquencies at Large Servicers Rise Ever So Slightly

The nation’s three largest residential servicers – Wells Fargo, Chase and Bank of America – all showed sequential increases in late payments...

August 23, 2016 - IMFnews

The Final Tally: Nonbanks Battered by MSR Accounting in 2Q16

Nine nonbanks reported a combined net loss of $339.5 million on mortgage-banking activity for 2Q16, but that was actually an improvement...

August 22, 2016 - IMFnews

Short Takes: Will Ocwen Come Roaring Back? / A 29 Percent Decline in MSR Contracts / Finally, A Stock Deal / HUD Left Money on the Table / A New Director for Altisource

Is Ocwen's share price extremely undervalued?

August 22, 2016 - IMFnews

Mortgage Underwriters Make How Much?

Stratmor based its findings on results from 36 companies. Most of the focus was on retail lending.

August 22, 2016 - IMFnews

Call Reports Show Modest Increase in Mortgage-Banking Income for 2Q16

The call-report data pose an interesting, and contrary, view of the banking industry’s mortgage-banking activity during the second quarter…


After the November elections, how long will it take for a new Congress and White House to pass GSE reform legislation?

I’m confident a bill will be passed the first year.
2 to 3 years. GSE reform is complicated.
Sadly it won’t happen in a Clinton or Trump first term.
Not in my lifetime.

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