MountainView, a firm known mostly for the market it makes in mortgage servicing rights, is branching out into non-QM lending, but company officials cautioned that its effort will start small. Moreover, a spokesman for the firm clarified that loans acquired through its new “Peak Program” will meet the ability-to-repay rule requirements, including the non-QM loans. “We expect...

Shareholders are appealing a federal judge’s decision last week to toss out their legal challenge to the federal government’s siphoning off of Fannie Mae and Freddie Mac profits, and a legal expert says they could be helped out by what comes out in discovery in other investor lawsuits. Speaking during a conference call sponsored by Investors Unite, New York School of Law Professor Richard Epstein – who does not own stock in the government-sponsored enterprises – blasted the “misguided” ruling by Judge Royce Lamberth of the U.S. District Court for the District of Columbia. He characterized it as an overly generous interpretation of the Housing and Economic Recovery Act of 2008 in favor of the Treasury Department and the Federal Housing Finance Agency. “Although the government claimed to be looking out for the shareholders, it ended up...

No reason for panic yet: Only two jumbo (MBS) borrowers are currently more than 60 days delinquent and the foreclosure process has yet to start for either.

Mortgage lenders delivered $47.82 billion of single-family home loans with private mortgage insurance coverage to Fannie Mae and Freddie Mac during the third quarter of 2014, according to a new ranking and analysis by Inside Mortgage Finance. That was up 29.9 percent from the second quarter of this year as the private MIs piggybacked on the surge in purchase-money mortgages securitized by the two government-sponsored enterprises. Private MI coverage was provided on 39.2 percent of purchase loans sold to the GSEs during the third quarter, and the industry has seen its penetration rate of the sector climb steadily. Back in the first quarter of 2013, only 31.3 percent of Fannie/Freddie purchase mortgages had...[Includes two data charts]

Back in the first quarter of 2013, only 31.3 percent of Fannie/Freddie purchase mortgages had private mortgage insurance.

A source close to Horne confirmed the news and said he would be serving as an “executive advisor” to Wingspan, at least over the short term. But this source warned that the situation was "fluid."

Back in 2004, credit unions accounted for just 3.2 percent of total mortgage originations. Not anymore.

Ethos Lending, a QM and non-QM lender, is marketing itself to third-party loan officers as the “broker advocate."

In the past, when mortgage wholesalers cut fees it marked an attempt to increase production volume.

Bonds backed by nonperforming residential mortgages could reach $6 billion this year. But all of the deals are "private."