Private mortgage insurance volume was up sharply in the second quarter, based on a new Inside Mortgage Finance analysis of Fannie Mae and Freddie Mac mortgage-backed securities data. The two government-sponsored enterprises securitized $52.59 billion of single-family loans with private MI coverage during the period. That was up 21.5 percent from the first quarter, and it lifted year-to-date volume 42.4 percent above the level during the first six months of last year. It was...[Includes two data tables]
The nation’s subservicers increased their contracts to a record high $1.350 trillion at March 31 as tougher regulations continued to play a key role in the shifting of processing chores away from depositories to nonbanks. On a sequential basis, contracts increased by 7.1 percent in the first quarter and 14.4 percent compared to March 31, 2014, according to a new Inside Mortgage Finance ranking. Only four banks – Flagstar, Cenlar, Wells Fargo and Bank of America – were among the top 20 subservicers. Overall, at March 31, subservicers were...[Includes one data table]
In a new research note, Sterne Agee analyst Henry Coffey also voices anxiety about the fact that almost 55 percent of Walter’s stock is controlled by three investor groups.
Wells Fargo, the nation's largest originator, reported that while 72 percent believe now is a good time to buy, many consumers are faced with misconceptions about credit scores and other topics.
CMLA argues that “moving implementation to January [from October] will allow lenders and settlement service providers a more gradual implementation of the new disclosures in a lower pressure environment.”
There are three major cooperatives that serve as middlemen between lenders and various counterparties: Lenders One, Capital Markets Cooperative and The Mortgage Collaborative.
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