Investors Unite: “We’re encouraged to see that MBA has changed its position on both of these issues and we also note that in their [sic] paper, MBA acknowledges the role of the Federal Housing Finance Agency … in stabilizing the companies during the conservatorship.”
With 2017 shaping up to be a so-so year for originations, the list of potential buyers of other companies is beginning to grow. Usually, firms that are in the hunt to purchase other shops tend to keep it quiet. Over the past few months, however, several companies have admitted that they’re open to pulling out the checkbook. Included in that camp, at least for right now, are Flagstar Bancorp, Freedom Mortgage, and Impac Mortgage Holdings. Others that are said to be open to deals ...
California remained the mother lode of mortgage insurance business in the first quarter of 2017, but a number of other major states had higher concentrations of insured business, according to a new Inside Mortgage Trends analysis. Some $12.50 billion of agency mortgages securitized during the first quarter with some form of primary MI were tied to Golden State properties, representing 58.9 percent of California’s total agency purchase-mortgage ... [Includes one data chart]
A disproportionate share of the premiums collected under the FHA’s current pricing scheme are paid by non-defaulters even though higher premiums are targeted for higher-risk borrowers, according to a new analysis from the Federal Reserve Bank of New York. The study contends that FHA’s policy of allowing borrowers to refinance their upfront mortgage insurance premium “reduces the total cost of borrowing during the first year, but results in non-defaulters paying ...
A typical first-time homebuyer pays significantly more than a repeat homebuyer does for the same house, according to research by economists at the Federal Housing Finance Agency. They suggested that appraisers could help reduce home prices for first-time homebuyers, though the proposal faces a number of obstacles. The FHFA analysis was based on appraisal information associated with loan applications submitted to the government-sponsored enterprises from the ...
What some people might call “hard-core economics” – closing costs and interest rates – along with a lender’s reputation for excellent customer service, play a decisive role in most consumers’ choice of a mortgage lender, according to a new survey from Ally Bank. “Four in five Americans (81 percent) who ever had a mortgage or plan to apply for one in the future said the total amount of closing costs did/would factor into their lender decision,” the bank said in announcing the results ...
loanDepot rolled out another aspect of its digital origination software interface last week as a number of lenders work to use technology to improve the mortgage application and origination processes. A mortgage origination process that is completely online or digital is still being pursued by lenders, but officials at loanDepot suggest that the proprietary digital lending platform the nonbank has developed, known as mello, is “the future of lending.” “Technology advancements have ...
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