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IMFnews - May 25, 2018

Real Estate Agents Prefer Nonbanks when Making Referrals for Purchase Mortgages

The top four lenders receiving the highest rate of “likes” and lowest rate of “dislikes” from real estate agents were all nonbanks: Fairway Independent, Movement Mortgage, Guild Mortgage and Guaranteed Rate.

Home Sales Expected to Increase in 2018 even with Higher Interest Rates and Home Prices

By Brandon Ivey

Freddie said the strong labor market and years of pent-up interest are increasing demand for purchase mortgages.

Investors Outbidding First-Time Homebuyers, Genworth Expects Supply of Homes to Increase

By Brandon Ivey

Tian Liu, chief economist at Genworth Mortgage Insurance, said homebuilders are starting to increase the supply of homes at somewhat lower price points, which could help increase purchases by first-time buyers.

Bank Holdings of ABS Increase Slightly in First Quarter

By John Bancroft

jbancroft@imfpubs.com Commercial banks and savings institutions held $113.75 billion of non-mortgage asset-backed securities in portfolio at the end of March, a scant 0.1 percent increase from the previous quarter, according to a new ranking and analysis by Inside MBS & ABS. The biggest factor in the small uptick was the significant growth in the two largest ABS portfolios in the industry: TD Bank and Charles Schwab Bank. Combined, the firms accounted for nearly half of the industry’s…

Short Takes: FHFA Punts on MI Volume Discounts / Fannie Considering an IMAGIN of its Own / Home Sales Decline / Refi Business Worse than 2014?

By John Bancroft, Brandon Ivey

A senior FHFA official said disputes over private mortgage-insurance pricing likely fall under the jurisdiction of state insurance regulators.

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