mhogan@imfpubs.com, sclark@imfpubs.com, pmuolo@imfpubs.com

The non-QM MBS market keeps humming along with deals. The latest shelf filer is PIMCO, which is readying a $243.6 million security through its BRAVO shelf. The underlying loans were originated by Acra Lending and First Guaranty Mortgage Corporation… 

The yield on the benchmark 10-year Treasury has been on the rise of late but giving some ground on the day before the July 4 holiday (4.36% at press time). A new report from BTIG notes “with gain-on-sale margins for originators already near the tights, mortgage rates should have decent support to stay below 7% if the 10-year is capped around its YTD high of 4.75%”…

FHA UPDATE: The Federal Housing Administration will host a webinar Aug. 8 on updated lender requirements related to borrower-initiated reconsiderations of a property appraisal. The new requirements were unveiled in a May 1 mortgagee letter. The government’s mortgage insurer has updated its FHA Connection technology platform to accommodate the changes. 

CFPB UPDATE: The Consumer Financial Protection Bureau completed 28 fair lending examinations or reviews on banks and nonbanks during 2023, according to a new annual report from the agency. The CFPB said it reviewed Home Mortgage Disclosure Act data integrity and mortgage underwriting processes for potential discrimination. Lenders that use automated underwriting systems for credit decisions underwent a bureau assessment to see if the institution considered “less discriminatory alternatives,” when choosing a model to implement.

MORTGAGE PEOPLE: Waterstone Mortgage, Pewaukee, WI, hired Jim Harper as its new vice president of accounting and finance. Harper has 25 years of experience in the financial services industry, including seven in the mortgage industry. Waterstone did not name his previous employers.

PUBLISHING NOTE: IMFnews will not appear Thursday, July 4, in observance of Independence Day. We will return with a new report on Friday, July 5.

It’s a Snap to Drill Into the HMDA Data

The IMF HMDA Dashboard allows you to easily drill into the rich data collected under the Home Mortgage Disclosure Act to learn about the business at nearly every company making mortgage originations — and it’s as easy to use as it is powerful. This interactive tool allows you to sort through the data with filters for loan purpose, type, property type, secondary-market purchaser, type of lender, geography and much more … and it’s a snap to export your results to Excel, PowerPoint or other tools for further analysis or sharing. Take a brief tour to see the interactive tool at work.