Latest News

Ditech Discloses Limited Financials and It’s Not Pretty: A $105 Million Loss for February
April 18, 2019
The Ditech financial hole just got bigger...
IG: CFPB Examined Nonbanks Outside Its Jurisdiction
April 18, 2019
The CFPB OIG found that the supervisory team, multiple times, scheduled examinations at institutions it had no authority over.
JPM Has a New Mortgage (Consumer) Chief: Marianne Lake
April 18, 2019
The Lake promotion comes about two weeks after JPM Chairman and CEO Jamie Dimon in a letter to shareholders said the megabank is considering significant changes in its home lending operations...
Short Takes: Layoffs of Almost 1,000 at Ditech / Employee Retention Woes / Fannie Mae is a Large Customer / JPMorgan Readies Another Prime Non-Agency Deal / Quicken Teams up with Airbnb-Like Firm
April 18, 2019
The Chapter 11 bankruptcy filing also reveals that Fannie Mae is a large subservicing client of Ditech’s, though not its largest. That distinction belongs to New Residentia...

More Latest News

Expanded-Credit MBS Issuance Hits Record High in 1Q

Issuance of expanded-credit mortgage-backed securities hit $5.97 billion in the first quarter of 2019, a record for the sector. It also topped prime non-agency MBS volume for the third conse...

Non-Agency MBS Market Starts 2019 on Solid Footing

Big gains in prime and expanded-credit MBS issuance are driving the market, although production of scratch-and-dent deals fell sharply in the first quarter.

News

Bank Repurchase Volume Falls to Record Low in 2018

Mortgage repurchases by banks and thrifts fell to $2.29 billion in 2018, the lowest annual total since institutions began reporting this activity on quarterly call reports in 2007. It would hav...

News

Subservicing is Growing but Vendor Landscape is Shifting

The nation’s subservicing vendors ended the fourth quarter with $2.47 trillion worth of contracts on their books, a 9.8% sequential gain and a handsome 23.5% annual increase, according to figur...

News

Nonbank Share of Mortgage Originations Rising in 2018

Mortgage originators licensed by state regulators produced fewer loans in 2018 than they had in the previous year but still took more market share away from depositories. A new Inside Mortgage...

News

Mortgage Servicing Most Complained About Category

Mortgage complaints filed with the CFPB declined over the past two years, and the most-criticized category was mortgage servicing, according to a new snapshot. [Includes one data chart.]

Inside MBS & ABS

PIMCO, MetLife Entering Non-Agency MBS Market

April 11, 2019

After years of acquiring mortgages as whole loans, PIMCO and MetLife are set to issue separate non-agency MBS stocked with seasoned mortgages. An affiliate of PIMCO plans a $382.56 million issuance while...

JPMorgan the First Big Bank to Issue Non-QM MBS

April 9, 2019

In a positive sign for the non-agency MBS market, JPMorgan Chase is set to issue a $440.54 million MBS stocked with non-qualified mortgages for primary residences. It will be the the first big bank...

Court Rules MBS Could be Subject to ERISA Standards

April 9, 2019

A recent court ruling in the case of Powell v. Ocwen Financial could significantly expand liability for non-agency MBS participants by subjecting MBS transactions to the Employee Retirement...

Prime Auto Loan ABS Expects Better Performance

April 10, 2019

Rating agencies set lower loss expectations for recent prime auto deals, but for subprime auto ABS, it's a different story.

More Inside MBS & ABS

Inside Nonconforming Markets

Issuance of Prime Non-Agency MBS Slows; Projections Slashed

April 10, 2019

Issuance of prime non-agency mortgage-backed securities slowed in the first quarter of 2019, prompting industry analysts to reduce their volume projections for the full year.

Nonprime Lenders Increase Production in First Quarter

April 10, 2019

Citadel Servicing and Angel Oak Companies reported a sharp increase in origination of nonprime mortgages for the first quarter. Demand from borrowers for non-qualified mortgages remains strong....

ARM Lending and Market Share Decline in 2018

April 11, 2019

Originations of adjustable-rate mortgages declined 11.6% in 2018, driven by sharp decreases at a number of banks that dominate ARM production. The sector also lost some market share during the year.

...

Interest-Only Mortgage Lending Declines in 2018

April 11, 2019

Interest-only mortgage originations in 2018 declined 12.1% among a group of top-ranked lenders. The decline was slightly greater than the drop in total first-lien originations.

More Inside Nonconforming Markets

Inside Mortgage Trends

Brokers Gain Share in Early 2019 Agency MBS Market

April 5, 2019

The wholesale-broker channel appears to be gaining ground in the tightly competitive primary market in agency conforming mortgages. A new Inside Mortgage Trends analysis reveals that broker originations ac...

Most Mortgage Bankers Posted a Loss in 4Q18: MBA

April 5, 2019

The fourth quarter of 2018 was one of the hardest times in recent memory for companies to generate a profit from their mortgage banking operations. The Mortgage Bankers Association reported that only 44.0%...

FHA Takes Bigger Share of Agency Purchase Market

April 5, 2019

Ginnie Mae securitized $31.39 billion of FHA single-family purchase loans during the first quarter of 2019, according to a new Inside Mortgage Trends analysis of agency mortgage-backed securities disclosure...

Private MIs Excess Capital Seen at $2 Billion by Yearend

April 5, 2019

Private mortgage insurers could have excess capital of nearly $2 billion by the end of 2019, analysts predict. A recent report from Keefe, Bruyette & Woods suggests the combination of private mortgage insur...

More Inside Mortgage Trends

Inside FHA/VA Lending

2019 Starts Meekly as Flow of Purchase Loans Slows

New Ginnie Mae mortgage-backed securities volume in the first quarter of 2019 declined to the lowest level in nearly five years. Total single-family MBS production fell 15.7% sequentially to $76.97...

Dreamers' FHA Eligibility Again in Question

Conflicting interpretations of the law brings into question Dreamers' eligibility for FHA loans.

GNMA's Additional VA Seasoning Guidance Provides Certainty

Ginnie Mae issues additional guidance on loan seasoning in a variety of VA refinancing scenarios.

Quicken, DOJ Sent to Mediation on FHA Claims Case

A U.S. district court judge in Detroit has directed Quicken Loans and DOJ to settle via mediation their dispute over poorly underwritten FHA loans. But will they?

More Inside FHA/VA Lending

Premium Newsletter Content

Inside Mortgage Trends

Brokers Gain Share in Early 2019 Agency MBS Market

Inside Mortgage Finance

Private MI Business Down Sharply in Early 2019

The sharp downturn in purchase-money loans going into Fannie and Freddie MBS was accompanied by an even bigger drop in deliveries of loans with private mortgage insurance.

Inside Nonconforming Markets

Expanded-Credit MBS Issuance Hits Record High in 1Q

Issuance of expanded-credit mortgage-backed securities hit $5.97 billion in the first quarter of 2019, a record for the sector. It also topped prime non-agency MBS volume for the third consecutive quarter.

Inside MBS & ABS

Non-Agency MBS Market Starts 2019 on Solid Footing

Big gains in prime and expanded-credit MBS issuance are driving the market, although production of scratch-and-dent deals fell sharply in the first quarter.

Inside the CFPB

Long-Awaited Debt Collection Rule Expected Soon

The CFPB is likely to release its debt collection rule proposal soon, bringing clarity to issues that have been looming in the industry for decades.

Inside The GSEs

GSE Seller Base Becomes More Top-Heavy in 2019

Fannie Mae and Freddie Mac got proportionally more of their single-family business from large-volume sellers in the first quarter, although production was down sharply in every seller category. [Includes two data cha...

Inside FHA/VA Lending

2019 Starts Meekly as Flow of Purchase Loans Slows

Inside The GSEs

Getting Down to the Finer Details of the Uniform MBS

In early March, just before the Securities Industry and Financial Markets Association voted in favor of allowing the uniform mortgage-backed security for delivery in the to-be-announced market, Fannie Mae and Freddie Mac hosted a conference.

Freddie to Restructure STACR Program as REMIC

Freddie Mac will restructure all future credit-risk transfer offerings through its flagship Structured Agency Credit Risk program as real estate mortgage investment conduits, Kevin Palmer, senior vice president for single-family credit risk transfer, said.

More Inside The GSEs

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