Latest News

It’s Official: Freedom Set to Buy RoundPoint, Creating a Top-10 Ranked Servicer
May 24, 2019
Earlier this month, Inside Mortgage Finance broke the news that the two firms were in talks...
New York State RE Investor Indicted in MF Fraud, GSEs were Victims
May 24, 2019
Prosecutors say the defendants doctored the income and purchase prices multifamily properties by maintaining a second set of books, and using fake liens, false contracts, and inflated invoices...
FHFA Chief to Fannie & Freddie: Your Days of ‘Charter Creep’ Are Over
May 24, 2019
Calabria’s comments should make it crystal clear to the managements of Fannie and Freddie that when it comes to new products and expansion, the two will be on a very short leash...
The Love Affair Gets Serious: Bank Holdings of MBS Set a New Record
May 24, 2019
Most of the first-quarter MBS gains came in holdings of Fannie Mae and Freddie Mac pass-throughs…

Inside Nonconforming Markets
Jumbo Servicing Down at Wells and JPM in 1Q19
Jumbo servicing portfolios increased sequentially at most prominent servicers during the first quarter of 2019, though Wells Fargo and Chase posted declines. First Republic Bank's s...
Inside Mortgage Finance
Delinquencies Decline at Large Servicers in 1Q
The total mortgage delinquency rate among large mortgage servicers in March was at the second-lowest level in the post-crisis era. A number of factors are contributing to strong loan perform...
Agency MBS
REITs Go on Agency MBS Buying Spree in Early 2019
The two largest REIT investors in the MBS market added a combined $22.8 billion of agency MBS to their portfolios in the first quarter, boosting the industry to a record $308.1 billion in resid...
Data
FHA, VA Purchase Production Down in 1Q19
FHA’s and VA’s purchase originations fell during the first three months of 2019 despite lower interest rates. On the other hand, lower rates helped boost both programs’ ref...
Earnings
Mortgage Banking Income Up at Most Banks in 1Q19
A group of 22 banks reported a combined $1.84 billion in mortgage banking income for the first three months of 2019, a solid improvement from the fourth quarter but down from the same period...
Consolidation and Structural Change Reshaping Servicing
The mortgage servicing business is seeing growing consolidation, especially in the second tier of market participants. Mergers, MSR sales and subservicing continue to reshape the market.

Inside Mortgage Finance

Wholesale-Broker Market Growing Sharply in 2019
Driven by a huge increase in volume at United Wholesale Mortgage, the broker market posted a solid 14% increase in production during the first quarter of 2019. Correspondent lending was off 10% over the same period.
FHFA to the GSEs: Your ‘Charter Creep’ Days are Over
New FHFA Director Mark Calabria singled out GSE "charter creep" as something he would like to eliminate. But he was short on specifics. Still, an FHFA probe of the matter has been launched.
- Calabria Delivers Strong Call for End to Conservatorships
- As Expected, Ellie Mae Lays Off 10% of its Staff
More Inside Mortgage Finance

Inside MBS & ABS

Bank MBS Holdings Hit New Record High in March 2019
May 23, 2019
The industry added $30 billion to its residential MBS holdings in the first quarter, mostly in agency pass-through securities. But some of the increase resulted from a shift in reporting at a large bank.
Ginnie Mae Says Liquidity Not an Issue for Nonbanks
May 23, 2019
Liquidity does not appear to be a cause of concern for the secondary market agency’s top nonbank issuers despite differences in how liquidity issues are addressed from firm to firm.
PIMCO Reveals Huge Market Presence in REIT IPO Filing
May 23, 2019
The firm detailed its residential mortgage-related assets under management in a recent filing, demonstrating its dominating presence in the housing-finance market.
What Happens When the 'Patch' Sunsets?
May 23, 2019
The QM rule is scheduled for radical change, and the CFPB is running out of time in coming up with a plan to deal with it.

More Inside MBS & ABS

Poll

Inside Nonconforming Markets

Jumbo Lending Down Slightly in 1Q19, Market Share Up
May 24, 2019
Originations of non-agency jumbo mortgages declined by 1.5% in the first quarter though the sector gained some market share as total first-lien originations fell by an even greater amount.
Expanded-Credit Production Falls Again in 1Q19
May 24, 2019
Expanded-credit mortgage originations declined for the second consecutive quarter at the end of March. Demand from borrowers was down but lenders remain optimistic about the sector.
FHFA Wants to Help Non-Agency Market
May 24, 2019
FHFA Director Mark Calabria plans to take steps to help non-agency market players better compete with the government-sponsored enterprises. However, lowering conforming loan limits isn’t part of th...
MBA Wants Jumbos to be Eligible for QM Patch
May 24, 2019
The trade group is urging the CFPB to allow jumbos to receive qualified mortgage status even if the loans have debt-to-income ratios greater than 43%. The pending expiration of the QM patch has also prom...

More Inside Nonconforming Markets

Videos

Inside Mortgage Trends

Public Nonbanks Eke Out Small Profit in Early 2019
May 17, 2019
There was a significant divide between companies that hedge their servicing, which reported solid first-quarter earnings, and those that don't.
Credit Characteristics Still Strongest for Retail Loans
May 17, 2019
A bird's-eye view suggests retail originations had higher credit scores and lower DTI ratios than loans produced by correspondents and brokers. But third-party originators generated lower-risk loans at the...
The End May be Near for Ditech. As Auction Nears, SEC Filings Go Dark
May 17, 2019
The ailing Ditech Financial signaled in a new SEC filing that it will no longer file public reports on its quarterly and monthly results. The move comes days before bids are due on the franchise.
Loan Applications Spike Ahead of Fed Meetings
May 17, 2019
Mortgage applications surge in the days before the Fed meets to set interest rates, according to a study that looked at confidential data from HMDA. Applications fall by an even larger amount after the m...

More Inside Mortgage Trends

Inside FHA/VA Lending

FHA/VA Business Takes a Turn Toward More Risk
Average FHA and VA credit scores declined for both purchase and refi loans pooled into Ginnie Mae MBS in the first quarter. Wholesale-broker production gained a larger share of the market.
Ginnie Fears Unfounded, Nonbanks’ Liquidity Solid
The financial conditions of Ginnie Mae’s largest nonbank issuers appear to be healthy and the firms ready for any potential economic downturn, the secondary mortgage market agency said.
Secretary Carson Gets Grilled on HUD Oversight
During a congressional hearing this week, HUD Secretary Ben Carson faced tough questions about the department’s regulatory oversight and servicing processes.
Updated VALERI System to Debut Next Week
VA is on target to implement the enhanced servicing application of its redesigned VA Loan Electronic Reporting Interface system on May 28.

More Inside FHA/VA Lending

Premium Newsletter Content

Inside Mortgage Trends
Public Nonbanks Eke Out Small Profit in Early 2019
There was a significant divide between companies that hedge their servicing, which reported solid first-quarter earnings, and those that don't.
Inside Mortgage Finance
Wholesale-Broker Market Growing Sharply in 2019
Driven by a huge increase in volume at United Wholesale Mortgage, the broker market posted a solid 14% increase in production during the first quarter of 2019. Correspondent lending was off 10% over the same period....
Inside Nonconforming Markets
Jumbo Lending Down Slightly in 1Q19, Market Share Up
Originations of non-agency jumbo mortgages declined by 1.5% in the first quarter though the sector gained some market share as total first-lien originations fell by an even greater amount.
Inside MBS & ABS
Bank MBS Holdings Hit New Record High in March 2019
The industry added $30 billion to its residential MBS holdings in the first quarter, mostly in agency pass-through securities. But some of the increase resulted from a shift in reporting at a large bank.
Inside the CFPB
New Debt Collection Proposal Addresses Email, Text Usage
The CFPB issued a proposed debt collection rule to clarify matters looming in the industry, including the use of emails and text messages. If the proposal is finalized, it will be the first time that the industry...
Inside The GSEs
Homebuying Season Lifts GSE MBS Business in April
Fannie saw significant gains in both purchase and refinance business in April. Wells Fargo was dethroned as the top GSE seller for the month.
Inside FHA/VA Lending
FHA/VA Business Takes a Turn Toward More Risk
Average FHA and VA credit scores declined for both purchase and refi loans pooled into Ginnie Mae MBS in the first quarter. Wholesale-broker production gained a larger share of the market.

Inside The GSEs

Homebuying Season Lifts GSE MBS Business in April
Fannie saw significant gains in both purchase and refinance business in April. Wells Fargo was dethroned as the top GSE seller for the month.
Craig Phillips, Architect of Blueprint for GSE Reform, Leaving Treasury
The man tasked with creating a plan to reform the nation’s housing-finance system said he’s leaving.
More Inside The GSEs

Which is your biggest priority for the coming months?