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IMFnews - July 13, 2018

Mixed Trends for Residential MBS Issuance Halfway Through 2018

By John Bancroft

Some $315.95 billion of single-family MBS was issued in the second quarter, up 8.2 percent from the previous quarter, according to Inside MBS & ABS. And $607.93 billion was issued in the first half of 2018, down 7.6 percent from last year.

Wells’ Mortgage Originations Down in 2Q, Bank Set to Include Some Jumbos in Non-Agency MBS

By Brandon Ivey Wells Fargo had $50.0 billion in residential mortgage originations in the second quarter, down 10.7 percent from the second quarter of 2017, the bank reported on Friday. Wells’ originations increased by 16.3 percent from the first quarter of 2018 as part of a seasonal trend. While originations increased on a quarterly basis, Wells reported lower mortgage banking income and a shrinking production margin. The bank had $770.0 million in mortgage banking income in the second quarter,…

Mnuchin Hoping for Congress to Complete Bipartisan Housing Finance Reform in Next Term

By Brandon Ivey Congress should complete bipartisan housing finance reform during the two year term that begins in January, according to Steven Mnuchin, secretary of the Treasury Department. “We need [government-sponsored enterprise] reform,” Mnuchin said Thursday at a hearing by the House Financial Services Committee. “This is something that I am determined in the next Congress should be a major focus of ours – hopefully on a bipartisan basis, but we can’t just leave these things sitting the way…

Latest Expanded-Prime MBS from Redwood Somewhat Smaller than Previous Deals

By Brandon Ivey

Sequoia Mortgage Trust 2018-CH3 will be a $416.96 million issuance, according to a presale report by Kroll Bond Rating Agency.

Short Takes: Administrative Reform of the GSEs / Opinion on Government Guarantee / VA Lenders Could Close Over ‘Orphan’ Mess / End of LIBOR a ‘Certainty’

By Brandon Ivey

If Congress is unable to pass housing finance reform, Steven Mnuchin, secretary of the Treasury Department, said on Thursday that the Treasury will “look at administrative options.”


With mortgage production down noticeably this year from 2017, how many lenders might disappear via M&A or failure during the next 12 months?

10% or less. It’s not that bad out there.
11% to 25%. It’s a challenging market.
25% to 40%. It’s going to be very ugly.
No opinion.

vote to see results