pmuolo@imfpubs.com

Real estate technology platform HomeLight – which is backed by a little old tech giant named Google – has acquired Eave, a digital mortgage startup that boasts “proprietary” software and brags that its platform automates 70% of the mortgage process. No purchase price was mentioned…

As you might have guessed, HomeLight is based in tech-central, San Francisco, where home prices are in nosebleed territory for the average American. (Just saying.) Meanwhile, in a press statement HomeLight says it’s “revolutionizing” the “$1 trillion real estate industry.” We’re not sure about the measurement because home sales last year totaled a bit more than $1 trillion. Outstanding mortgage debt is $10 trillion-plus…

Meanwhile, whatever happened to all that chatter about Amazon.com buying loanDepot? Now that rates have fallen and refis are accelerating, loan production (and profits) are improving, increasing any potential asking price. According to Inside Mortgage Finance, loanDepot is the 12^th largest home lender based on first quarter numbers…

Angel Oak Capital Advisors estimates that non-QM MBS issuance should reach $23.8 billion in 2019. In 1Q19, $5.7 billion in non-QMs came to market via securitization, $1.23 billion of which came from Angel Oak.

MORTGAGE PEOPLE: Mortgage software provider Calyx hired Robert Shumake as national sales consultant. He joins the Dallas-based vendor from eOriginal, a provider of digital transaction management solutions. During his career, Shumake has worked for ClosingCorp, First Mortgage Corp., Home Savings of America, Washington Mutual and other shops.

Agency MSR Market Keeps Growing

Despite a decline at the top as Wells Fargo reported a drop of $19.85 billion in total mortgage servicing during 1Q19, collectively, the rest of the commercial banking industry increased its MSR activity, with JPMorgan Chase, Citizens Bank, Arvest Bank and TIAA/Everbank all reporting higher MSR balances. If you're considering making portfolio changes, either by buying or selling MSR, explore the current state of the market with IMF’s Mortgage Servicing Rights report. You’ll get the full picture of MSR holdings — which companies are currently holding servicing rights and how large their portfolios are — including a complete listing of agency servicers, as well as a list of the top banks and thrifts servicing for others.