Rising Rates Having Mixed Effect on Home Purchases July 18, 2013 Brandon Ivey The non-cash share of home-purchase financing increased to 71 percent in June from 67 percent in February, based on the three-month moving average.Read More
Corker-Warner Pitch Their GSE Reform Effort Over Hensarlings Ideologically Pure Bill July 17, 2013 Charles Wisniowski Sens. Bob Corker, R-TN, and Mark Warner, D-VA, say their mortgage reform measure strikes the right chord between Democrat and Republican concerns.Read More
Refis at Lowest Point in More Than Two Years July 17, 2013 Paul Muolo Is the great refi wave just about over? Read More
Short Takes: Nationstar Lays Groundwork for Another BofA MSR Deal / PHH Revises Warehouse Agreement with RBS / The Fed Will Keep Gobbling Up MBS / The CFPBs Cordray is Finally Street Legal / An OIG For CFPB? July 17, 2013 Paul Muolo and Thomas Ressler Nationstar Mortgage is issuing $250 million of debt, hinting that it may buy more MSRs from Bank of America.Read More
Ginnie Approvals Already Surpass Last Years Total, But Nonbanks a Problem July 17, 2013 Paul Muolo Banks have a strong track record on obtaining Ginnie Mae approvals, nonbanks not so much. Read More
Ginnie Mae MBS Issuance Up in First Half of 2013 July 17, 2013 George Brooks Wells Fargo, the nation's large home funder, accounted for almost 31 percent of total Ginnie Mae issuance during the first half of 2013.Read More
BofA Continues to Lose Money on Mortgage Unit, Refis Sky High at 83 Percent July 17, 2013 Paul Muolo Bank of America's mortgage business continued to recover in the second quarter, but its rep and warranties exposure remained high at $16.64 billion.Read More
FHFA OIG Wants Performance Measures on G-Fee Hikes July 16, 2013 Paul Muolo In 2012 single-family g-fees allowed Fannie Mae and Freddie Mac to collect $12.5 billion from its seller/servicers.Read More
FHA Solvency Bill Has Support But Will it Pass? July 16, 2013 George Brooks Among other things, the bill would allow FHA to make changes to the reverse mortgage program by mortgagee letter rather than legislation.Read More
Mortgage Master Continues Lending Dominance in Bay State July 16, 2013 Paul Muolo Mortgage Master continued its dominance in Massachusetts mortgage lending. Jumbo loan production swelled by 65 percent.Read More