Mortgage Originators

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

April 29, 2016 - Inside Mortgage Trends

Data: Top Sellers of TPO Originations - 3M2016

A ranking of the top 100 sellers of third-party originations in the first three months of 2016. Based on loan-level mortgage-backed security disclosures for MBS issued by Fannie Mae, Freddie Mac and Ginnie Mae.


April 29, 2016 - Inside Mortgage Trends

Borrowers Like New TRID Forms, Despite Delays

Most borrowers are having a positive experience with the new loan estimate and closing disclosure forms now in use under the Consumer Financial Protection Bureau’s integrated disclosure rule known as TRID, according to a new survey from TD Bank. The rule integrates the consumer disclosures required under both the Truth in Lending Act and the Real Estate Settlement Procedures Act. Of those responding to the survey, 40 percent reported having had an “excellent” experience ...


April 29, 2016 - Inside Mortgage Trends

Joint Mortgages Wrong Choice for Some Borrowers

Many borrowers who apply for a mortgage with a partner miss out on lower interest rates due to lenders’ standards regarding credit scores, according to research by economists at the Federal Reserve. Applying for a mortgage solo can lead to substantial cost savings, though determining whether to take that option can be complicated. Geng Li, Weifeng Wu, and Vincent Yao detailed their findings in a FEDS Notes article published by the Fed. The analysis was based on ...


April 29, 2016 - IMFnews

What We’re Hearing: When in Doubt, Copy the FHA / A Long List of Suspects / Was the TRID Mess Overblown? / Freddie is Safe / Bulk MSR Deals from IMA, MVSG / Arch MI Shines / MBA Backs Mortgage Broker Marc Savitt / Bill and Joe’s Excellent Salary Adventure

Was the TRID mess overblown? Tell that to all the mortgage firms that lost money on deals...


April 29, 2016 - IMFnews

BofA, JPMorgan Chase Differ on Loans Not Sold to the GSEs

Chase continues to retain large amounts of conforming mortgages in portfolio...


April 29, 2016 - IMFnews

Impac Bucks the Trend and Increases Lending in 1Q, Expects More Growth; Earnings Marred by ‘Adjustments’

Impac's residential servicing portfolio increased by 45 percent on a sequential basis to an unpaid principal balance of $5.2 billion.


April 29, 2016 - IMFnews

A Slump for Commercial MBS in 1Q16, Including GSE Multifamily

Fannie, Freddie and Ginnie continue to dominate in multifamily mortgage securitization, capturing a combined 93.6 percent of the market in the first quarter.


April 28, 2016 - IMFnews

CFPB Ready to Deal? Agency Will Make Adjustments to TRID (‘Know Before You Owe’); Unclear On Far It Will Go

However, the new Cordray letter provides no details on where it will land on errors.


April 28, 2016 - IMFnews

Short Takes: Ocwen’s Potential India Problem / Will Trump Penalize Servicers for Offshoring? / Altisource and Ocwen, Connected at the Hip / Bill Would Let GSEs Retain Capital / Spurs Capital Out on Its Own

Will President Trump (if elected) tax mortgage servicers that use offshore workers?


April 28, 2016 - Inside Mortgage Finance

Mortgage Market at a Glance

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


April 28, 2016 - Inside Mortgage Finance

Struggling Homeowners Continue to Face Problems With Their Mortgage Servicers, CFPB Report Says

The Consumer Financial Protection Bureau’s latest monthly report on consumer complaints finds that borrowers who are having a hard time staying current on their mortgages are still having problems with their servicers. The bureau said 51 percent of gripes involved problems homeowners faced when they were unable to make their mortgage payments. Consumers continued...


April 28, 2016 - IMFnews

Caliber Home Loans First to Receive ‘Expanded-Credit’ Rating

Lone Star was the first firm to issue a non-agency MBS backed predominantly by non-QMs...


April 28, 2016 - Inside Mortgage Finance

Thanks to Rising Loan Originations, Mortgage M&A Deals Hit the Skids; No More ‘Franchise’ Deals?

Thanks to rising loan applications and a stronger-than-anticipated start to the second quarter, merger and acquisition activity in the mortgage industry is at muted levels these days, according to investment banking officials. In other words, lenders will continue to “make hay while the sun shines,” believing that current profit margins are just too good right now to consider selling out. It was originally thought...


April 28, 2016 - Inside Mortgage Finance

Mortgage Originations Hold Fairly Steady in Early 2016 But Results Vary Significantly Among Top Lenders

Mortgage lenders that have excelled at originating refinance loans posted steady and improving originations during the first quarter of 2016 while competitors that are more focused on the purchase-mortgage market generally saw declining production levels. A new Inside Mortgage Finance analysis and ranking shows that first-lien mortgage originations totaled an estimated $380.0 billion during the first three months of 2016, down slightly from the fourth quarter of last year. That estimate could change as more information becomes available, especially from major nonbank lenders that have not yet reported first-quarter originations data. Agency indicators were...[Includes two data tables]


April 28, 2016 - IMFnews

More Bad News for Ocwen: No Word on When MSR Purchases Can Commence; Lending Falls

The publicly traded servicer/originator took in $330.7 million in revenue, a 35.2 percent decline from 1Q15. Its origination revenue was a meager $23.2 million…


April 28, 2016 - IMFnews

SFIG Members Still Working on TRID Due Diligence Issues, S&P Clarifies Comments on Draft Proposal

Comments are due on Friday from working group members that have been participating in the effort.


April 28, 2016 - IMFnews

The Final Origination Tally for 1Q16: A Slight Decline but Results Vary Among Lenders

Quicken Loans, for example, reported a 4.9 percent increase in total originations compared to 4Q15. An estimated 81.0 percent of the nonbank’s production in 2015 was refinance loans…


April 27, 2016 - IMFnews

Another Earnings Bloodbath for Ocwen; $111 Million Loss for 1Q16; Revenue Plummets; Stock Creamed in After-Hours Trading

In after-hours trading Wednesday, its share price was down 20 percent to $2.25.


April 27, 2016 - IMFnews

Short Takes: Trouble Ahead for Downpayment ‘Gift’ Programs? / CHLA Sends a Letter to Cordray, Wants a Fair Shake for Nonbanks / Why Sig Anderman of Ellie Mae is a Happy Man These Days

Sig Anderman’s once small firm is now worth more than Nationstar Mortgage, Ocwen Financial and Walter Investment Management Corp. combined.


April 27, 2016 - IMFnews

Real Estate Agents Complain (Big Time) About the TRID Nightmare

On the subject of delayed closings, one agent had this to say: “All of my closings are taking two to four weeks longer to close, and there has been a lot of confusion…”


April 27, 2016 - IMFnews

A TRID Breakthrough? S&P Endorses Due Diligence Standards Proposed by SFIG; Ready to Rate Non-Agency MBS

While S&P will rate new non-agency MBS without formal guidance from the CFPB, the rating service noted that the market’s handling of TRID issues is fluid...


April 26, 2016 - IMFnews

Short Takes: When In Doubt, Bolt the FHA? / A Record ‘Tightness’ for Non-Agency? / Mortgage Banking is Only Good When Hot / Essent Gets LOC / Parkside Hires Former BofA Executive

One industry consultant warns that when times are good, mortgage banking income can “turbocharge” earnings but...


April 26, 2016 - IMFnews

BB&T Reports Warehouse Commitments of $2.8 Billion

Warehouse consultant Larry Charbonneau noted that he knows of at least two new entrants to the business.


April 26, 2016 - IMFnews

Flagstar Boosts Originations and Income in 1Q16, Is Comfortable with TRID

Flagstar is the only depository that ranks among the nation’s top-five wholesale/broker lenders, according to Inside Mortgage Finance.


April 26, 2016 - IMFnews

A Trickle of Jumbo Securitizations. Blame TRID?

Pricing on the deal was good, but investor fears rule the day.


April 25, 2016 - IMFnews

Fee on Lenders to Fund FHA Tech Upgrades Excluded from Appropriations Bill

The Mortgage Bankers hailed the bill for supporting a number of MBA priorities and for rejecting an administration proposal to fund FHA technology upgrades through a fee on lenders.


April 25, 2016 - IMFnews

Borrowers Like New TRID Forms, Even with Delays

While most borrowers felt positive about the new forms, 63 percent said their experience with TRID prevented them from closing on their new homes within the desired timeframe.


April 22, 2016 - Inside FHA/VA Lending

VA Guidance Clarifies Compliance With TRID Disclosure Requirements

The Department of Veterans Affairs has issued new guidance clarifying how VA lenders should comply with the disclosure requirements of the new TRID rule. TRID, which stands for Truth in Lending Act-Real Estate Settlement Procedures Act Integrated Disclosures, was adopted in final form by the Consumer Financial Protection Bureau on Oct. 3, 2015. Specifically, TRID establishes new requirements regarding mortgage disclosure forms, which lenders must use for all home loans. Lenders are required to itemize the services and fees they charge to borrowers on the TRID disclosure forms, instead of on the HUD-1 closing statement, in connection with a loan application to purchase or refinance an existing mortgage. However, switching from the HUD-1 to the TRID form has caused uncertainty among VA lenders as to how to complete the new forms. VA’s TRID guidance lays out ...


April 22, 2016 - Inside FHA/VA Lending

GNMA Eliminates Targeted Lending Initiative Due to Very Low Volume

Ginnie Mae is pulling the plug on its long-running Targeted Lending Initiative because it is no longer having an impact on overall lending in underserved urban and rural areas. TLI volume has seen more decline than uptick in recent years despite its offer of a Ginnie Mae guaranty fee reduction to encourage lenders to make more loans in underserved communities, according to an agency spokesperson. Reducing the Ginnie Mae guaranty fee lowers lenders’ expenses and, ideally, provides an incentive to increase lending. In 2005, Ginnie Mae extended the TLI to areas hardest hit by Hurricane Katrina, reducing the guaranty fee by as much as 50 percent to spur issuers to originate or purchase mortgage loans in areas where the hurricane inflicted the most damage. At one point, the program had more than 10,000 census tracts that were identified as targeted areas. Other TLI areas included those ...


April 22, 2016 - Inside FHA/VA Lending

Annual MIP Cut Helped Spur FHA Streamline Refi Activity in 2015

FHA’s Streamline Refinance program went through an erratic pace in 2015 as business exploded in the second quarter and declined over the second half of the year. FHA lenders closed 2015 with $67.5 billion in total streamline refis, a 252.4 percent improvement over volume in 2014. Production fell 30.0 percent in the fourth quarter from the prior quarter. The second-quarter spike – which caused streamline refi volume to jump from $12.1 billion in the first quarter to $25.0 billion in the second quarter – was fueled apparently by FHA’s reduction of the annual mortgage insurance premium. In January 2015, the FHA cut its MIPs on 30-year loans, making it less expensive to carry an FHA home. Under the revised MIP schedule, a 30-year FHA streamline refi with a loan-to-value ratio over 95 percent is charged an annual MIP of 0.85 percent. For a 30-year loan under 95 percent LTV, the annual MIP is ... [ 1 chart ]


April 22, 2016 - Inside Nonconforming Markets

LendingHome Expanding Non-Agency Activity

The company that claims to be the largest originator of mortgages via marketplace lending continues to work on offering nonconforming mortgage products, including non-qualified mortgages. LendingHome announced last week that it has originated more than $550 million in mortgages since 2014 via marketplace lending. Marketplace lenders connect borrowers with institutional investors and individual investors. LendingHome said its mortgage originations ...


April 22, 2016 - Inside Nonconforming Markets

BofA, Chase Differ on Loans Not Sold to GSEs

Bank of America and JPMorgan Chase are using somewhat different strategies for conforming mortgages eligible for sale to the government-sponsored enterprises. Both banks are originating significant amounts of conforming mortgages and retaining some of the loans in portfolio instead of delivering them to the GSEs. BofA said its mortgage-banking income has declined due to holding mortgages in portfolio while Chase sold some of the credit risk on its conforming mortgage ...


April 22, 2016 - IMFnews

What We’re Hearing: Are Mortgage Loan Officers Overpaid? / Why the Mortgage Process is Complicated / Which is a Better Investment: Spending Money on LOs or Programmers? / A New Call Center on the Way? / Nationstar Compared to Ocwen and Walter

Then again, I’ve talked to recruiters who believe that good LOs are worth every nickel as long as they bring in the business.


April 22, 2016 - IMFnews

A Harbinger of Non-QM Lending to Come?

Altavera chief Brian Simons said staffing requests suggest the industry is preparing for an increase in non-QM business.


April 22, 2016 - IMFnews

Non-Mortgage ABS Production Rebounds in Early 2016, But…

Roughly $41.42 billion of non-mortgage ABS were issued in the first quarter, up 35.8 percent from the unusually low volume at the end of 2015.


April 22, 2016 - IMFnews

Another Week and More TRID Drama: Buyer Exits Correspondent Jumbo Space; Industry Gives Up Hope on ‘Official Guidance’

“Investors are taking the conservative approach,” said the Morrison & Foerster attorney. “No one wants to be the test case. They’re all worried about what a court might say.”


April 21, 2016 - Inside Mortgage Finance

Mortgage Market at a Glance

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


April 21, 2016 - Inside Mortgage Finance

FinCEN Increases Scrutiny of Non-Mortgage Purchases of Luxury Homes As Part of Real Estate-Related AML Effort

A pilot effort by the Treasury Department’s Financial Crimes Enforcement Network is underway in New York City and Miami to track suspicious “all cash” purchases of high-end residential properties as part of the government’s anti-money laundering (AML) enforcement. In remarks during a recent AML conference in Florida, FinCEN Director Jennifer Shasky Calvery said geographic targeting orders (GTOs) were issued by the agency in January this year and went into effect on March 1. They require identification of high-end cash buyers to ensure luxury residences purchased with cash are not masking money laundering activities. Specifically, U.S. title insurance companies are temporarily required...


April 21, 2016 - IMFnews

Short Takes: Potential Trouble for Mortgage Employers? / A Crackup Coming for P2P? / Hey, What About an App That Lets You Foreclose by Hitting a Button? / Freedom Tosses Jumbo Loan / PRMG Likes ‘HomeReady’

Here's a product idea: hit a button on your cell phone and get foreclosed on...


April 21, 2016 - IMFnews

Jumbo Lender First Republic Boosts Minimum Wage to $20 an Hour, Launches New Mortgage Program

First Republic, which lends to the affluent, earned $148.87 million in the first quarter of 2016, up 6.3 percent from the previous period...


April 21, 2016 - IMFnews

Mortgage Attorneys Predict a Victory for PHH in CFPB-RESPA Case

Former CFPB enforcement attorney Jennifer Lee said the Circuit Court was hostile towards the CFPB’s arguments on statute of limitations, separation of powers, constitutionality of the agency and more...


April 21, 2016 - IMFnews

NAR Tells Congress About Investor Problems Caused by TRID – and Lenders Not Willing to Share the CD

NAR voiced its dismay that some mortgage bankers are making it difficult for Realtors to obtain a copy of the closing disclosure form or CD...


April 21, 2016 - IMFnews

Six Months After TRID Implementation, Closing Times Finally Start to Improve … But Not By Much

Closing times are improving but not by leaps and bounds.


April 20, 2016 - IMFnews

Short Takes: All in the Mortgage Family / Can Ditech’s TPO Strategy Work? / The Megabanks Feeling Less Love for GSE Loans? / 38,865 Fannie Mae Shareholders / FRB Sets 1Q Production Record

Would you lend money to your relatives? One mortgage firm has made it a business model...


April 20, 2016 - IMFnews

Mortgage Complaints Down Across the Board – According to the CFPB

Wells Fargo was the subject of more mortgage complaints than any other player in the sector. Then again, Wells is both the largest lender and servicer.


April 20, 2016 - IMFnews

It was Thought the TRID ‘Scratch & Dent Market’ Would Peter Out. It Hasn’t

To date, Mid America has bought roughly $115 million worth of product with TRID errors...


April 20, 2016 - IMFnews

How to Beat TRID in the MBS Sector: Issue Securities Backed by Investment Properties

Investors take note: The collateral has a current interest rate of 8.15 percent.


April 20, 2016 - IMFnews

Next Up for the Blackstone Group/Finance of America: Non-QM Loans

It’s expected that Blackstone/Finance of America will target borrowers who are self-employed and have a harder time qualifying for conventional mortgages.


April 20, 2016 - IMFnews

Fannie Mae Captured a Slice of Market Share in a Slumping 1Q16

Wells Fargo was the top seller to the GSEs in the first quarter with $22.75 billion, followed by Quicken Loans ($11.33 billion) and JPMorgan Chase ($6.87 billion).


April 19, 2016 - IMFnews

Short Takes: Wells Fargo Stays the Course on FHA / But FHA Production Drops / A Large MSR Auction from Prestwick / A FHLB Deal from Phoenix / New Hires for New Penn and Ellie Mae

Wells Fargo spokesman Tom Goyda called FHA lending an “important tool” for the bank.


Poll

Does your lending shop have any plans to make non-jumbo, non-QM loans this year? These would be loans similar to "Alt A" and subprime products made BEFORE standards were loosened severely in the 2004 to 2007 era.

Yes.

33%

No.

33%

It’s under consideration, maybe by 3Q or 4Q.

26%

We were going to until the TRID "error" mess hit.

7%

Housing Pulse