First-time homebuyers are reportedly sitting on the sidelines and have dropped to their lowest levels in three decades, according to the National Association of Realtors. In its latest annual survey of buyers and sellers, NAR noted that the share of first-time buyers declined to 32 percent, from 33 percent a year ago and the lowest since first-time buyers spiraled down to 30 percent in 1987. But not so fast, says Edward Pinto, former chief credit officer of Fannie Mae and co-director and chief risk officer of the International Center on Housing Risk at the American Enterprise Institute, who disputes NAR’s data and describes the first-time buyer market as “booming.” “The buyers are...

Warehouse banks ended the third quarter with $46.0 billion of commitments on their books, a 4.2 percent sequential decline as residential originations in the primary market slowed and nonbank customers needed less credit. According to survey figures compiled by Inside Mortgage Finance, warehouse commitments at the end of September were up 27.8 percent from the same point in 2014. The quarterly decline was...

In comments to IMFnews, Emerson accused the HUD Inspector General and DOJ of “hijacking” the FHA program.

Most mortgage lenders reported a significant uptick in purchase-mortgage originations during the third quarter of 2015, though there is little sign that originators are lowering credit standards to stimulate more business. According to revised estimates by Inside Mortgage Finance, purchase-mortgage originations climbed 10.7 percent from the second to the third quarter of this year, hitting $280 billion. At that level, the purchase market was the strongest it has been since the third quarter of 2007. At the same time, credit standards – at least in the agency market – have eased...[Includes two data tables]

In addition to state law, federal laws address cross-selling issues. The Real Estate Settlement Procedures Act, for example, covers referrals of settlement service business, like residential mortgage loans.

CALCAP has never had a default, said company principal Mark Mozilo.

“Some of you work the regular hours with minimal extra ... and this will not work,” an assistant vice president and underwriting manager at Franklin American said in an email to underwriters...

Now that President Obama has signed legislation to cap Fannie Mae/Freddie Mac CEO pay, which GSE chief will leave first?

At the same time, credit standards – at least in the agency market – have eased only slightly over the past two years...

Ellington Financial, a REIT that carries an 11.20 percent dividend and yield, has admitted to buying non-QM loans in past filings with the SEC, but has not racked up huge volumes...