Mortgage Originators

Browse articles from all of our Newsletters related to Mortgage Originators.

September 23, 2014 - IMFnews

Short Takes: Mortgage Industry Shrinks but Not by Much / Can It Be? Final Risk Retention Rules? / Treasury’s Experiment in Non-Agency MBS / October Non-QM Launch for Ethos / JPM Removed From Virginia Lawsuit

It appears that Ethos Lending will enter the non-QM market come October...


September 23, 2014 - IMFnews

Good News for Mortgage Lenders: Fewer Cash Buyers in the Market

Elevated home prices and a smaller supply of distressed properties have prompted many investors to switch from buying to selling.


September 23, 2014 - IMFnews

Ginnie Mae Promises Net Worth Rules for All by MBA Annual

Soon it will be easier to use Ginnie Mae mortgage servicing rights as collateral, or so the agency hopes.


September 23, 2014 - IMFnews

After Comstock Acquisition, Guild Wants to Buy More Lenders; An Eventual IPO?

As the mortgage M&A market chugs along in the coming year, Guild hopes to be a buyer.


September 23, 2014 - IMFnews

Why the Mortgage ‘Credit Box’ is So Small

Originators are constantly looking over their shoulders because loans are being re-underwritten two or three times, once by the aggregator, once by the GSEs...


September 23, 2014 - IMFnews

FHFA Suggests Leaving Adjustments of G-Fees and Loan Limits to Congress

FHFA's Bob Ryan said the GSE regulator has concerns that decreasing loan limits or increasing g-fees would limit access to credit.


September 22, 2014 - IMFnews

Short Takes: Ginnie Mae MSR Transfers Plunge / And the Authors Are… / Time to Short Altisource? / Rep. Maloney Goes to Bat for GSE Multifamily / New Chairman for FHLB’s Office of Finance

Why short Altisource? This source reasons that as real estate values continue to improve and foreclosures slow, Altisource will have less to do going forward...


September 22, 2014 - IMFnews

New Ginnie White Paper: Banks Good for Risk, Nonbanks Not So Good

Tozer believes that with depositories in control of the Ginnie market, the regulation of lender/servicers has essentially been outsourced to banking regulators who have “vast experience” in safety and soundness.


September 22, 2014 - IMFnews

At ABS East, Optimism and Anxiety; New Rules and Regs a Big Concern

Bob Behal, a principal and co-head of ABS and commercial MBS investments at Vanguard Group, said liquidity in the market is fair.


September 22, 2014 - IMFnews

Mortgage Stocks Continue to Feel the Heat

In short, investors – if they bought mortgage stocks at their peaks – are looking at substantial losses...


September 22, 2014 - IMFnews

Secondary Market Sales of Mortgages Rebounded in 2Q but Down Considerably From Last Year

On a year-to-date basis, mortgage sales were down 63.6 percent from the first half of 2013.


September 22, 2014 - IMFnews

Center-Right Groups Want Transparency From Treasury on GSE Profit Sweep

In the last quarter, for instance, Fannie and Freddie posted combined net earnings of $5.1 billion – most of which was swept into a Treasury account.


September 19, 2014 - Inside Mortgage Trends

Brokers Originate Slightly Riskier Loans

Loans originated by mortgage brokers tended to have slightly lower credit scores and slightly higher debt-to-income ratios than production by retail lenders and correspondents. An Inside Mortgage Trends analysis of mortgage-backed securities issued by Fannie Mae, Freddie Mac and Ginnie Mae during the second quarter found that broker originations had an average credit score of 721.9 – compared to 728.5 for retail production and 723.4 for correspondent originations. The average DTI for ... [Includes one data chart]


September 19, 2014 - Inside Mortgage Trends

Experts: Credit Access a ‘Huge Problem’ in 2015

Look for the lack of access to credit, particularly among first-time homebuyers and at both ends of the credit spectrum, to be the most significant impediment to housing in 2015, industry experts said during the Bipartisan Policy Center’s housing summit in Washington. While a weak labor market and high levels of student loan debt have done much to hinder first-time homebuyers, demand remains strong – but not enough to overcome stringent loan standards, said Richard Smith, CEO of Realogy Holdings Corp ...


September 19, 2014 - Inside Mortgage Trends

Mortgage Sales Rebounded in 2Q14

After a historically slow start to the year, mortgage originations and loan sales rebounded during the second quarter but remained tepid. Commercial banks and savings institutions reported a total of $140.07 billion of loans sold by their mortgage banking operations during the second quarter, according to an Inside Mortgage Trends analysis of call-report data. That was up 11.4 percent from the dismal $125.71 billion in loan sales during the first three months of the year ... [Includes two data charts]


September 19, 2014 - Inside Mortgage Trends

Slowing Investor Purchases Boost Mortgage Share

Mortgage lending has gained significant market share in the home-purchase market in recent months due to a pullback by investors, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. The combined market share for current homeowners and first-time homebuyers increased again in August, according to Tom Popik, research director of Campbell Surveys. The two groups accounted for 84.5 percent of the homes purchased in August, based on a three-month moving average ...


September 19, 2014 - Inside Mortgage Trends

Concerns About Buybacks, Legal Woes Continue to Keep Credit Box Narrow

A tremendous amount of uncertainty is causing mortgage lenders to be more restrictive with credit than they otherwise might be – mostly stemming from conflicts with investors, increased regulation and the ambiguity from major legal settlements. “Lenders are running scared,” said Paulina McGrath, president of Republic State Mortgage, during a conference sponsored by the Bipartisan Policy Center this week in Washington, DC. “It’s not just the regulation that’s causing a dramatic increase in ...


September 19, 2014 - IMFnews

What We're Hearing: Do Banks Really Hate Mortgages? / Stearns Hires Former BofA Retail Honcho / Do the GSEs Really Need Capital? / A Bad NPL Experience?

Commercial banks hate mortgages. No, they don't. Yes, they do. No they don't. Yes, they do...


September 19, 2014 - IMFnews

West Coast-based RPM Finally Inks Deal to Buy NH Lender; More Purchases in the Works?

Founded in 1996, Regency is owned and operated by its founders Quentin Keefe and Maureen Lemay. Both will continue in their present positions.


September 19, 2014 - IMFnews

The G-Fee Quandary: Will Higher Prices Stimulate the Non-Agency Market?

SIFMA did not take a stance on whether g-fees should be adjusted up or down. Instead, the trade group stressed that it is unclear how a change to g-fees would impact non-agency activity.


September 19, 2014 - IMFnews

Is ‘Disparate Impact’ a Valid Claim Under the Fair Housing Act?

According to the final rule that HUD adopted in February 2013, a practice has a discriminatory effect on a protected class if HUD or a private plaintiff can establish liability under the statute, even if there is no intent to discriminate.


September 18, 2014 - IMFnews

Short Takes: Did EverBank’s Default Sale Backfire? / Can the Non-QM Market Save the Industry? / Which Mortgage Companies Will Be Forgotten? / A Layoff for a REIT / Stonegate Hires New Executive

Some mortgage executives told us privately that residential originations could fall by 20 percent year.


September 18, 2014 - Inside Mortgage Finance

Mortgage Market at a Glance

Weekly mortgage rates and application survey data as well as indexes for ARMs.


September 18, 2014 - Inside Mortgage Finance

The Mortgage M&A Train Finally Arrives; Stearns Lending Weighs Its Options…

Over the past few weeks, a handful of mortgage firms have announced acquisitions of smaller shops with an eye toward expanding their origination footprints or servicing portfolios. And investment banking advisors told Inside Mortgage Finance that between now and yearend, the mergers and acquisitions market should be brisk as owners of privately held companies finally head for the exits, realizing that when it comes to originations, 2015 likely won’t be much better than the current year. The largest nonbank to test the M&A market this year is...


September 18, 2014 - IMFnews

Non-Agency Lender Citadel Hopes to Hire At Least 100 New Staffers

Roughly 40 to 50 percent of Citadel's production goes on its balance sheet.


September 18, 2014 - IMFnews

Caliber Home Loans Inks Deal to Buy $4 Billion Originator

As part of the transaction, Cobalt co-founders Keith Tibbles and Ernie Gehre will stay with the company, which will become a division of Caliber.


September 18, 2014 - IMFnews

Homewood Mortgage Rolls Out Stated-Income Jumbo Product, with Some Strings Attached

On its stated-income product, Homewood requires a minimum of three months of bank statements for both business and personal assets.


September 18, 2014 - IMFnews

Supreme Court Prepares to Hear ‘Guidance’ Cases Tied to LO Overtime

The MBA argued that the DOL didn’t follow rulemaking procedures in 2010 when the regulator withdrew guidance stating that loan officers could be exempt from overtime compensation requirements...


September 18, 2014 - IMFnews

Purchase-Money Market Share at its Highest Level in 19 Years

The biggest chunk of purchase business for the GSEs were loans ranging from $200,000 to $300,000, which accounted for 29.4 percent of their business.


September 17, 2014 - IMFnews

Short Takes: New Hampshire Nonbank About to be Sold / PE Firms Like Hard Money, Crowdfunding, P2P / Are Commercial Banks Toast? / Virginia Sues Wall Street Over PLS / Great Scot! Who Gets the RBS Liability?

Although there appears to be strong interest these days in mortgage banking firms, the outlook isn’t particularly bright for commercial banks.


September 17, 2014 - IMFnews

Lender Launches Jumbo Reverse Product

The loan is available in California, Florida, Hawaii and New Jersey, and is slated to be expanded to other states.


September 17, 2014 - IMFnews

Offering ‘Book’ Circulating on Nation’s 16th Largest Originator: Stearns

Company CEO Brian Hale downplayed the news of an offering book, noting that it hired an investment banker because over the past 12 months Stearns has been approached by “a number of interested investors.”


September 17, 2014 - IMFnews

FHFA Rejects IG’s Findings on the Loosening of Buyback Rules

The FHFA partially agreed with the IG's first recommendation and flatly rejected the second.


September 17, 2014 - IMFnews

Former Obama Official: You Can Trace Tight Credit to Lenders Paying Huge Legal Settlements

“Law enforcement has been on a bit of a run with settlements and enforcement," said Jim Parrott, a former Obama administration point man on housing.


September 17, 2014 - IMFnews

Industry Asks CFPB for More Written Guidance on RESPA-TILA Integration

The 16, which include the Mortgage Bankers Association and American Bankers Association, want the CFPB to deepen its engagement using industry forums.


September 16, 2014 - IMFnews

Short Takes: What’s MERS Worth? / Fannie, Freddie and MBA Could Use the Money / MBA Tells FHFA to go Easy on Buybacks / A Drop in FHA FICOs / Clayton’s New Hire

The Mortgage Bankers Association wants the FHFA to push Fannie and Freddie to go easy on mortgage buybacks.


September 16, 2014 - IMFnews

Ex-FHFA Chief DeMarco Warns that Private Capital May Lose Interest in Mortgages

“The conservatorships are a huge barrier to entry for private capital,” said former FHFA Acting Director Edward DeMarco.


September 16, 2014 - IMFnews

FHA Commissioner Would Like to See Agency Separated from HUD

David Stevens, who led the FHA for part of the financial crisis, recalled difficult times dealing with policymakers and appropriators.


September 16, 2014 - IMFnews

AmeriSave Agrees to Buy Mortgage Division from CertusBank

AmeriSave, a nonbank, has not been without controversy itself.


September 16, 2014 - IMFnews

Two Harbors Focuses on Retail Mortgages with its Latest Jumbo MBS

Two other major contributors to the deal, George Mason Mortgage and American Pacific Mortgage, are retail-only shops.


September 15, 2014 - Inside the CFPB

Legislative Update/Worth Noting/Looking Ahead

Industry Tries to Rustle Up Support for QM Points-and-Fees Legislation. The Mortgage Action Alliance, the grassroots advocacy group of the Mortgage Bankers Association, recently issued a “call to action” to its members to get on the telephone and call their Senators and urge them to pass legislation that would make key changes to the way points and fees are calculated under the qualified mortgage definition in the CFPB’s ability-to-repay rule. S. 1577, the Mortgage Choice Act of 2013, introduced last year by Sen. Joe Manchin, D-WV, exempts any affiliated title charges and escrow charges for taxes and insurance from the QM cap on points and fees. Manchin’s bill is a legislative companion to H.R. 3211, the Mortgage Choice Act, which ...


September 15, 2014 - Inside the CFPB

More Rules Coming From CFPB by Year’s End, Cordray Tells Senators

If lenders think they have a full plate of regulations to digest, just wait. More appetizers and main courses are on the way, courtesy of the CFPB and the Dodd-Frank Wall Street Reform and Consumer Protection Act. For the real estate finance industry, there is more to follow all the mortgage-related rules that took effect in January of this year, or the integrated disclosure rule under the Truth in Lending Act and the Real Estate Settlement Procedures Act, which takes effect in August of 2015. “This summer, we also issued a proposed rule to implement changes Congress made to the Home Mortgage Disclosure Act,” said CFPB Director Richard Cordray, in appearance before the Senate Banking, Housing and Urban Affairs Committee ...


September 15, 2014 - Inside the CFPB

“Treacherous,” Complex TRID Generates Host of Concerns

The CFPB’s integrated disclosure rule will be “treacherous” for mortgage lenders and will likely be as challenging to comply with as its massive size and complexity suggests, according to top industry experts. Speaking to attendees of an Inside Mortgage Finance webinar last week on the CFPB’s TILA/RESPA Integrated Disclosure rule – known as “TRID” – Rod Alba, senior regulatory counsel for the American Bankers Association, rattled off a number of concerns that mortgage lenders still have with the new rule, which is set to take effect Aug. 1, 2015. “The regulation is enormously voluminous in length. The sheer size of this rule, we think, makes this regulation treacherous for banks in terms of liability, in terms of enforcement, in terms of understanding ...


September 15, 2014 - Inside the CFPB

Mortgage Lenders Need to Get With The TRID Now, Antonakes Urges

CFPB Deputy Director Steve Antonakes told attendees at the North Carolina Bankers Association’s mortgage conference last week that lenders need to start prepping for the bureau’s impending TILA/RESPA Integrated Disclosure rule, known in bureau-speak these days as the “TRID.” While the use of the TRID’s new Loan Estimate and Closing Disclosure forms is not required until August 2015, “mortgage lenders should already be working on the new rule and getting ready now,” Antonakes urged. “Significant changes to business operations and technology platforms will require close collaboration with third-party service providers. “While many mortgage institutions are already deep into implementing these changes, we want to make sure that everyone understands the need to be focusing on August 2015 now,” Antonakes emphasized...


September 15, 2014 - IMFnews

Short Takes: New Jumbo Deal from Two Harbors / Investors Dumping Fannie and Freddie Stock? / GSE Plaintiff Hires Former Fannie CFO Howard / M&A for NYCB? / Want a Loan? Don’t Get Pregnant / Norcom Opens Another Branch in Connecticut

Is it time to sell shares in Fannie Mae and Freddie Mac?


September 15, 2014 - IMFnews

Colorado Lead Generation Firm Slammed by FTC, Agrees to Fine

Delta Prime Refinance was the business trade name used by Intermundo.


September 15, 2014 - IMFnews

Australia Bank Macquarie Will Buy Impac’s Non-QM Loans

For now, nonbanks that fund non-QMs must sell them to an investor unless they have a balance sheet. Securitizations likely won’t happen until sometime in 2015.


September 15, 2014 - IMFnews

White House Will Meet with Lenders Over Mortgage Credit Access

The White House meeting is expected to touch on key lender issues, including credit overlays, government enforcement actions, regulatory burden and risk-based versus FHA pricing.


September 12, 2014 - Inside FHA Lending

FHA FRM Lending Propels Overall Volume in 2Q

FHA single-family loan production picked up in the second quarter thanks to a surge in fixed-rate mortgage lending, according to an Inside FHA Lending analysis of agency data. A 15.2 percent increase in FHA fixed-rate volume helped propel overall FHA originations in the second quarter, which rose 16.0 percent from the first quarter. Adjustable-rate lending also was up 32.3 percent over the same period. FHA purchase originations increased 20.6 percent, while FHA-insured refinances rose by only 4.3 percent. On the other hand, conforming-to-FHA refinances were down 4.5 percent from the first quarter. FHA baseline lending (below $417,000) saw volume rise 17.6 percent, while FHA-jumbo loan amounts up to the statutory high-cost loan limit increased by 6.2 percent. On the other hand, the volume of jumbos exceeding ... [1 chart]


September 12, 2014 - Inside FHA Lending

FHA Jumbo Production Slips Further in 2Q14

The first-quarter decline in FHA jumbo production spilled over into the second quarter as volume dropped another 21.7 percent, ending the first half of the year with $4.7 billion in new government-insured jumbo loans, according to an Inside FHA Lending analysis of agency snapshot data. On a year-over-year basis, volume fell 56.7 percent over the six-month period compared to the same period last year. Jumbo loans make up a tiny percentage of FHA’s overall portfolio. The FHA has been weaning itself away from jumbos after Republican members of Congress accused the agency of straying from its mission by subsidizing purchases of million-dollar houses. A statutory readjustment this year brought the FHA loan limit in high-cost areas down to $625,500, the same level as the high-cost loan limits for conforming mortgages in high-cost areas. The baseline loan limits for both conforming and FHA loans in 2014 ... [1 chart]


Poll

Over the next six months we plan to hire this many more additional loan officers:

1 to 10 (We're being careful.)
11 to 30 (We're optimistic.)
More than 30 (We're in a growth mode as the banks get out.)
We're cutting back. (Are you nuts? It's ugly out there.)

vote to see results
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