Citadel Servicing Corp. and Angel Oak Companies – two of the most active nonprime lenders operating today – are looking at record originations for the second quarter and all of 2017. But don’t expect a torrent of conventional lenders to jump into the space anytime soon. According to interviews conducted by Inside Mortgage Finance in recent weeks, there’s plenty of interest in the “new” subprime market, a business predicated on sober loan-to-value ratios and rigorous underwriting, but most conventional lenders do not see it as safe. At least not yet. “Right now, there’s...

The Consumer Financial Protection Bureau last week announced it will assess the effectiveness of its ability-to-repay/qualified-mortgage rule, as per the requirements of the Dodd-Frank Act, and is asking for public input. The CFPB will examine the impact of major provisions of the rule on mortgage costs, origination volumes, approval rates and subsequent loan performance. A special focus is on self-employed borrowers, those with seasonal or part-time income and borrowers with income from assets. Another topic for review is...

Purchase-mortgage lending saw a big drop in volume during the first quarter of 2017, but indicators suggest that the sector has been rebounding in recent months and will post a solid gain by the time the year is over. An estimated $205.0 billion of purchase mortgages were originated in the first quarter, a sizable 19.6 percent decline from the previous period. But with an even bigger 44.6 percent slump in refinance lending, purchase mortgages accounted for over half (53.2 percent) of total first-lien originations in the first three months of the year. It was...[Includes three data tables]

In the first quarter, PennyMac ranked fourth among all home lenders, trailing Wells Fargo, Chase Home Finance and Quicken, according to a ranking from Inside Mortgage Finance.

Lenders cited various technology issues, costs and difficulties getting loan officers to change behavior as barriers to digitizing the mortgage process.

Agency MBS data suggest the purchase market hit its low spot in January and has been slowing building momentum ever since…

Larry Charbonneau, who conducts warehouse lending reviews for commercial banks, said usage rates are definitely improving this spring.

Roughly 10.8 percent of the mortgages were sourced through the Federal Home Loan Banks’ Mortgage Partnership Finance program.

“Even with optimal outcomes agreed by all parties in a typical three- to five-year contract, public and private company CEOs find themselves constantly under the ‘results’ microscope," said consultant Paul Hindman.

In the lawsuit, Ocwen admitted that it had stopped paying some of the invoices sent to it by FIS because of what it called “improper and non-compliant billing practices…