Originations of interest-only mortgages by lenders that are prominent in the niche have lagged behind overall mortgage production trends, according to a new ranking and analysis by Inside Nonconforming Markets. Through the first three quarters of 2015, first-lien IO originations by a group of 12 lenders increased by 13.2 percent compared with the same period in 2014. Overall mortgage production in that time increased by 42.9 percent, according to ... [Includes one data chart]

Angel Oak Capital Advisors issued a nonprime mortgage-backed security on Dec. 17 tied to loans with an unpaid principal balance of $150.35 million. It was the fourth – and largest – nonprime MBS issued in 2015. Angel Oak Mortgage Trust 2015-1 included a $120.28 million senior tranche, a $15.04 million mezzanine tranche and two subordinate tranches totaling $15.04 million. The deal was issued by Angel Oak’s Greenleaf Income Trust II and was not rated. Officials at Angel Oak said ...

One proposed rule would establish reasonable fees that VA lenders may charge in connection with the origination and servicing of loans.

The biggest mortgage story of 2015? How about origination volumes being a lot better than anyone dreamed of?

Eric Morgenson, a sales manager at Angel Oak, said the lender’s main concern involves New York's foreclosure timelines

If Kurland sells all of the shares he registered, it will leave him with 424,025, making him (still) the largest individual shareholder in the publicly traded REIT.

Commercial banks continue to avoid the reverse mortgage market like the plague.

Nationstar Mortgage is laying the ground work for a huge debt sale. But what will it use the money for?

VA Servicer Reminders. The new maximum allowable foreclosure timeframes published in the Federal Register on Dec. 4, 2015, will be effective for all loan terminations completed on or after Jan. 3, 2016. In addition, the new Net Value percentage (15.95 percent) took effect on Dec. 23, 2015. All Notices of Value issued on or after Dec. 23, must be calculated using the new percentage. Meanwhile, pre-approval requests to deviate from a regulation must be submitted through VALERI (VA Loan Electronic Reporting Interface), the agency’s loan administration system. VA does not grant pre-approval on claim expenses or for additional time to foreclose. These items must be appealed ...

State housing agencies have expressed support for a proposed rule change by the U.S. Department of Agriculture’s Rural Housing Service that would expedite claim submission, but sought clarification on certain provisions. The proposed rule would amend the USDA’s current rules on liquidation-value appraisals under the agency’s Section 502 Single Family Housing Guaranteed Loan Program. Currently, if a real estate-owned property remains unsold by the lender at the end of a prescribed marketing period, the RHS will order a liquidation value appraisal to estimate the cost of holding and disposing of the REO. However, several housing finance agencies have complained about the RHS’ lengthy claims process, which forces them and other lenders to keep unpaid claims on their books longer than necessary. “Such lengthy waiting periods can be particularly costly to HFAs and other ...