The U.S. Department of Agriculture’s Rural Housing Service has issued guidance regarding short sales and sale of real estate-owned properties backed by rural housing loans.
Lenders and their warehouse providers have been openly worrying about thinning profit margins for several quarters now with liquidity a primary concern.
Fannie Mae, Freddie Mac and Ginnie Mae saw a slight increase in their share of big-ticket mortgage lending in the third quarter as the non-agency jumbo sector cooled, according to an Inside Mortgage Finance ranking and analysis. [Includes three data charts.]
Warehouse lenders ended the third quarter with $65.0 billion of commitments to nonbanks on their books, a modest 3.0 percent sequential decline, according to a new Inside Mortgage Finance analysis. [Includes one data chart.]
Ellie Mae is migrating its infrastructure to Amazon’s cloud platform in order to refocus its man-power and capital on innovation in mortgage lending instead of database management.
With loan production waning and profit margins thinning, investment bankers and warehouse ex-ecutives far and wide have been expecting a tsunami of mortgage-related mergers and acquisitions to sweep the industry. If there’s a big wave, it’s still out at sea.
The Mortgage Bankers Association is asking regulators to postpone the implementation of a new accounting standard that requires upfront recognition of credit losses using long-term economic fore-casts but doesn’t allow upfront recognition of future revenues associated with a loan.
Appraisers, for obvious reasons, are against raising the appraisal threshold for residential real es-tate transactions, but several industry lenders have come out in favor of the proposal.
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