Mortgage Originators

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

December 18, 2014 - Inside Mortgage Finance

Mortgage Market at a Glance

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


December 18, 2014 - IMFnews

Short Takes: Thanks to Ackman, a Santa Claus Rally in GSE Stocks / New Jumbo MBS from CS / Home Flippers Stop Flipping? / Opus Active / A Departure at Altisource

A year ago, in SEC filings, Pershing Square disclosed that it owned just under 10 percent of Fannie and Freddie common.


December 18, 2014 - IMFnews

Fed Chief Yellen Surprised at Lagging Housing Recovery

Meanwhile, the FOMC indicated it will continue to reinvest principal payments from its holdings of agency debt and MBS.


December 18, 2014 - IMFnews

JPM to Bundle Low-Doc IOs Originated by Merrill Lynch 8 Years Ago

The Merrill borrowers tend to have strong equity positions: the original average combined LTV on the collateral is 54.9 percent.


December 18, 2014 - IMFnews

Home-Equity Lending – the Fastest-Growing Segment of the Mortgage Market

Lenders funded an estimated $20 billion of new home-equity lines of credit during the third quarter, a 17.6 percent gain from 2Q, according to IMF.


December 17, 2014 - IMFnews

Short Takes: Okay, Is Mortgage Credit Tighter or Looser? / A Management Shakeup at a Texas Lender / Quick, Rehire All the People You Fired / Tax Extender Bill Passed / Ex-CFC LO Headed to ‘The Big House’

A mid-sized nonbank based in Texas saw two of its top officers resign last week, industry sources confirmed to IMFnews.


December 17, 2014 - IMFnews

Plunging Oil Could Fuel a Mortgage Hiring Boom for Refis, But…

Plunging oil prices have led to a sell-off in stocks and a flight to quality, namely U.S. Treasuries and agency-backed MBS.


December 17, 2014 - IMFnews

FHA MMIF Will Get $300MM From SunTrust Settlement

When settlements are first reported rarely does the money change hands right away.


December 17, 2014 - IMFnews

CBO: Private Capital Can Replace the GSEs but Not Much Savings for Uncle Sam

Advocates for GSE reform looking for savings in the federal budget will be disappointed...


December 17, 2014 - IMFnews

Quicken Completed Mortgage Broker LPMI ‘Sale’ in 60 Hours

A handful of other large national wholesalers offer LPMI, including United Wholesale Mortgage.


December 17, 2014 - IMFnews

OCC: Banks Are Actually Tightening Underwriting Standards

The OCC said two banks exited the residential mortgage business in 2014 and another two plan to exit in the coming year.


December 16, 2014 - IMFnews

A 15 Percent Decline in GSE MBS Issuance for November

More than half of Fannie’s MBS flow in November came from refinance loans, the first time since March that purchase mortgages accounted for less than half of its business.


December 16, 2014 - IMFnews

More Regulatory Woes for Ocwen – This Time From the National Servicing Monitor; Stock Hit

The servicing monitor then hired an independent accounting firm, McGladrey, to retest Ocwen’s performance on a number of metrics tied to the national servicing settlement.


December 16, 2014 - IMFnews

Ellington Financial Invests in Skyline; Lender May Double Production

Skyline CEO Bill Dallas predicted that the nonbank funder could originate almost $4 billion next year, almost double what it produced this year.


December 16, 2014 - IMFnews

Finally 3Q Tally for MI Industry: New Premiums Up 9.8 Percent

Based on the upward production trend over the last three quarters, it appears the private MIs are on their way to a strong close at year-end.


December 15, 2014 - IMFnews

Short Takes: CMLA Wants GSEs to Retain Net Earnings / Cantor Expands Whole Loan Trading Desk / Carrington Hires Orman / Some Nice Words for Ocwen / FCI Shows Strong Growth

Moreover, CMLA wants lower guaranty fees for seller/servicers...


December 15, 2014 - IMFnews

It’s Official: LenderLive Will Sell Control of Company to Private Equity Firm

Aquiline is headed by Jeffrey Wayne Greenberg, son of former AIG chairman Maurice “Hank” Greenberg.


December 12, 2014 - Inside Mortgage Trends

Downpayments a Major Lever for Originations

Downpayment requirements play a larger role than interest rates in whether a potential borrower can afford a mortgage, according to new research from staff at the Federal Reserve Bank of New York. Potential borrowers who are less wealthy are particularly sensitive to downpayment requirements. Andreas Fuster and Basit Zafar, senior economists at the NY Fed, designed a survey in which respondents are asked for their maximum willingness to pay for a home comparable to their current home ...


December 12, 2014 - Inside Mortgage Trends

Private MIs Post Gains in 3Q14

Private mortgage insurers ended the third quarter of 2014 on a strong note, increasing their combined volume of net premiums written to $1.05 billion, up 9.8 percent from the prior quarter and 2.8 percent over the first nine months compared to the same period a year ago, according to an Inside Mortgage Trends analysis of industry data. Based on the upward production trend over the last three quarters, it appears the private MIs are on their way to a strong close at year end ...


December 12, 2014 - Inside Mortgage Trends

Can a Software Vendor Grow in a Flat Market?

Mortgage production likely will be flat in 2015, a prognosis that usually doesn’t warm the hearts of vendors that make their living off of originators. But don’t tell that to Ellie Mae, the publicly traded mortgage software provider whose Encompass platform has been growing steadily in recent years. In an interview with Inside Mortgage Trends, company President and Chief Operating Officer Jonathan Corr predicted that Ellie Mae’s revenues will grow by 25 percent next year, the same growth rate as ...


December 12, 2014 - Inside The GSEs

Analysts See Better Deal In GSE 97s Than in FHA

The 3 percent downpayment mortgages announced this week by Fannie Mae and Freddie Mac should be a better deal than similar FHA financing for stronger-credit borrowers, according to analysts. Final details of the conventional 97 loan-to-value ratio products were released this week to mixed but mostly favorable reviews. Although aimed at first-time homebuyers in Fannie’s MyCommunityMortgage and Freddie’s Home Possible programs, the products are also available for refinances of existing GSE loans. Only 30-year, fixed-rate loans are eligible and the home must be the borrower’s primary residence. In Fannie’s case, borrowers who go through MCM would pay lower upfront loan-level price adjustments. Freddie requires that the loans go through Home Possible. Analysts with FBR Capital Markets said the government-sponsored enterprises’ ...


December 12, 2014 - IMFnews

What We’re Hearing: Does Impac Have Money for a Big M&A Deal? / Ocwen Catches the Eye of Treasury / A 480 FICO Score Lender? / How Fannie and Freddie Really Feel About Nonbanks

What do Fannie and Freddie really think of nonbanks? Read their SEC filings.


December 12, 2014 - Inside MBS & ABS

Mortgage Securitization Rates Remain Below Par For Recent Years; More Options for Conforming

Mortgage securitization rates continued to trend lower through the first nine months of 2014 as Fannie Mae and Freddie Mac captured a smaller share of the conventional conforming market. A new Inside MBS & ABS analysis reveals that 70.4 percent of home loans originated during the first nine months of the year were packaged into MBS. For all of 2013, the securitization rate was 78.5 percent, and it reached as high as 84.4 percent in 2009, the first year following the financial meltdown. A key factor is...[Includes one data chart]


December 11, 2014 - IMFnews

Impac in Talks to Buy ‘Leading’ Mortgage Originator, Eye on ‘Alt’ Expansion

But who is the mystery lender that Impac is talking to?


December 12, 2014 - IMFnews

Waiver of Condo Approval Requirements Extended by FHA Until August 2016

The FHA temporary waiver was issued in November of last year and now has been extended to Aug. 31, 2016.


December 12, 2014 - IMFnews

Mortgage Securitization Rates Continue to Fall as Banks Keep More Loans in Portfolio

The key factor is that some mortgage originators, the megabanks especially, are keeping conventional loans in portfolio that might otherwise be securitized by Fannie and Freddie.


December 11, 2014 - Inside Mortgage Finance

Mortgage Market at a Glance

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


December 11, 2014 - IMFnews

Short Takes: Mortgage M&A Trend Hits Utah / GSEs Can’t Pass On the Cost to Lenders / No More Flips With FHA Loans / A Nice Dividend From PennyMac / A Coming Refi Boom? Yes or No?

But there's one little wrinkle: the GSEs cannot pass the cost of funding the HTF onto lenders…


December 11, 2014 - Inside Mortgage Finance

Underwriting Overlays Remain a Concern, GSEs and Lenders Seen as Sharing the Blame

Democrats in Congress and consumer advocates remain concerned about tight underwriting standards for mortgages, particularly due to overlays established by lenders. However, at a hearing this week by a subcommittee of the Senate Committee on Banking, Housing and Urban Affairs, there was a lack of consensus on what causes underwriting overlays. “Instead of matching the creditworthy borrower at the lower end of the distribution with affordable loans, these borrowers are being cut out of the market entirely,” said Sen. Robert Menendez, D-NJ, chairman of the Banking Subcommittee on Housing, Transportation and Community Development. Sen. Elizabeth Warren, D-MA, suggested...


December 11, 2014 - Inside Mortgage Finance

Quicken Completes LPMI ‘Sale’ in 60 Hours, Gives Up Profits for Exposure; Other Wholesalers May Follow Suit

Quicken Loans, the nation’s largest nonbank lender, recently offered a lender-paid mortgage insurance “sale” through loan brokers, committing $100 million to the effort and wrapping up the promotion in roughly 60 hours. According to Tod Highfield, vice president of loan production at Quicken, the sale wasn’t designed to hit any volume targets per se, but was meant to heighten the firm’s profile among certain segments of the origination market, namely brokers, credit unions and community banks. The offer was pitched...


December 11, 2014 - IMFnews

Funding for FHA’s HAWK Initiative Killed, Higher Premiums Nixed Too

A proposed FHA administrative fee as high as 4 basis points to fund quality assurance enforcement and technology upgrades also went down in flames.


December 11, 2014 - IMFnews

S&P Affirms Rating on New Penn, Notes Progress but a Production Decline Too

New Penn also reorganized its origination channels, consolidating wholesale and correspondent, while adding a mini-correspondent business line.


December 11, 2014 - IMFnews

A Storm is Coming and It’s Called Fair Lending Enforcement

The data to be reported under the CFPB’s proposal likely will inflame the current fair lending regulatory environment.


December 11, 2014 - IMFnews

Third Quarter Production Analysis: Jumbos a Bright Spot; Nonbanks Strong

According to Inside Mortgage Finance, among the top 15 jumbo originators eight are nonbanks.


December 10, 2014 - IMFnews

Short Takes: Are Investors Done Selling Ocwen’s Stock? / Who Might DocMagic Buy Next? / How is CitiMortgage Like Ocwen? / CFPB Budget Rises / Fannie Mum on Reinsurance Partners

But is DocMagic president and CEO Dominic Iannitti done buying? Stay tuned…


December 10, 2014 - IMFnews

Nonbank Trade Group Wants Depository Parity on Loan Officer Testing, More

The new plea from the CHLA comes at a time when depositories are losing origination market share to fast growing nonbanks like Freedom Mortgage, United Wholesale Mortgage and others.


December 10, 2014 - IMFnews

Key Democrat Predicts GSE High LTVs Will be Under ‘Siege’ in the Next Congress

Sen, Menedez added: “These [programs] were not the drivers of the financial crisis. We’re going to hear the opposite of that in the next session of Congress.”


December 10, 2014 - IMFnews

Nation’s Second-Largest Wholesaler Hopes to Grow Production by 40% in 2015

United Wholesale Mortgage is also one of the largest originators of residential loans with lender-paid mortgage insurance.


December 10, 2014 - IMFnews

In 2015, Half of All CFPB Staffers Will be in Supervision, Enforcement or Fair Lending

Compared to two years ago, staffing levels at the CFPB have increased a whopping 55 percent. Of course, Congress has no say over the agency’s budget.


December 9, 2014 - IMFnews

Short Takes: A Bond Backed by 10-Year-Old Alt A Loans / CalCap Expands into Arizona / Ocwen Gives a Nice Raise to CFO / A No PMI Loan From Stonegate / Sherwood Gets Prez Job at NMI

Ocwen Financial, whose stock has been clobbered this year, recently increased the base salary of its chief financial by $50,000...


December 9, 2014 - IMFnews

‘Fix and Flip’ Lender CalCap: 11% Loans are Not For Us Anymore

CalCap is about to enter the Phoenix market and is considering other western states as well.


December 8, 2014 - Inside the CFPB

New Report Highlights Treasury’s OFR Cooperation With CFPB

Industry representatives might be interested to know that the Treasury Department’s Office of Financial Research is working with the CFPB on some key regulatory initiatives. For instance, the OFR is providing technical support to the CFPB and other regulators to create a universal mortgage loan identifier to promote transparency, data aggregation, comparability, and analysis in the home mortgage market, the office said in a new report. The Dodd-Frank Act authorized the bureau to collect more data about individual mortgage loans and to mandate that entities reporting data under the Home Mortgage Disclosure Act provide a universal loan identifier for each loan or application that they are required to report. The OFR published a working paper on this subject in late ...


December 8, 2014 - Inside the CFPB

AMC Minimum Requirements Final Rule Expected This Month

The CFPB’s updated semi-annual regulatory agenda is out, and one of the tidbits it contains is that the joint agency final rule on minimum requirements for appraisal management companies is expected sometime this month. The CFPB is working on the rule with the Federal Housing Finance Agency, the Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corp., and the National Credit Union Administration. The rule is designed to implement the appraisal-related amendments to the Financial Institutions Reform, Recovery, and Enforcement Act mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act. “Work to issue a final rule to implement the Dodd-Frank Act’s AMC amendments to FIRREA is ongoing,” said the CFPB’s updated agenda. ...


December 8, 2014 - Inside the CFPB

SCOTUS to Hear Oral Arguments in Disparate-Impact Case in January

The U.S. Supreme Court plans to hear oral argument on Jan. 21, 2015, in the disparate-impact case, Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. The fundamental legal issue in the case is whether disparate-impact claims are cognizable under the Fair Housing Act. As far as the facts of the case go, the dispute involves a statutory challenge to the allocation of low-income housing tax credits. The TDHCA distributes the tax credits associated with the Low-Income Housing Tax Credit Program throughout Texas. The ICP is a 501(c)(3) nonprofit that works to place low-income, mostly African-American Section 8 tenants in Dallas’s more affluent and largely white suburban neighborhoods. The ICP brought suit against TDHCA back in ...


December 8, 2014 - IMFnews

Short Takes: CFPB Examining Pre-Approval Letters Now? / CFPB ‘Consumer Narratives’ Still an Issue / Caliber Loosens Credit Even More / The Lawsky Question / FHA Weighs in on Loan Limits

Industry advisor Joe Garrett said in a client note he knows of a lender that had its pre-approval letter scrutinized by the CFPB.


December 8, 2014 - IMFnews

NAR: Non-QM Share of Residential Originations Growing

However, NAR found that the willingness to actually originate non-QMs declined significantly across a number of different product types...


December 8, 2014 - IMFnews

GSEs Officially Re-Enter 97% LTV Market; But Will it Make a Difference?

Freddie’s program, which is called “Home Possible Advantage,” requires a minimum credit score of 660 for purchase loans, and 680 for "no cash-out" refis. This is only for manually underwritten loans.


December 8, 2014 - IMFnews

Industry to Senate Committee: You Want to Charge Us For What?

The provision, expected to raise $30 million for FHA quality assurance efforts, would allow the Department of Housing and Urban Development to charge a fee of no more than 4 basis points.


December 8, 2014 - IMFnews

Modest Sequential Increase in Jumbo Production for 3Q

However, through the first nine months of 2014, jumbo originations haven’t been able to keep up with the strong pace set last year.


December 5, 2014 - Inside FHA Lending

Around the Industry

Final PMIERS Rule Expected in 1Q15. The Federal Housing Finance Agency has revised its timeline for publishing a final version of the Private Mortgage Insurance Eligibility Requirements, which Fannie Mae and Freddie Mac proposed in July at the direction of the FHFA. The PMIERS will establish capital and other requirements for private mortgage insurers. In a statement, industry trade group U.S. Mortgage Insurers said it has received word from the agency that the final PMIERS would not be published until at least late in the first quarter of 2015. The FHFA initially indicated that a final rule would be issued by yearend 2014. The USMI reiterated its support for an updated PMIERS. Mortgage Executives Concerned About G-Fee Increase. A survey of mortgage executives at this year’s Mortgage Bankers Association annual conference found 53 percent saying that ...


Poll

What will Fannie Mae’s and Freddie Mac’s new 97 LTV programs mean for your business?

It will give our business a big boost as there is a lot of pent up demand for the product.
It will have only a minor impact on our overall business as we already are doing high LTV business through FHA and some of our high LTV FHA business is likely to shift to Fannie and Freddie.
It won’t have any impact on our business as we plan to steer clear of all high LTV business – particularly in the GSE market.

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