The weighted average coupon for new issuance of FHA refinancing loans is much lower than FHA purchase loans due to a combination of factors, according to an analysis by Wells Fargo Securities. Wells analysts led by senior analyst Vipul Jain compared collateral characteristics of FHA purchase and refi production for 2017 based on the weighted average loan age (WALA) of newer collateral issuance. The team found that purchase-loan production in FHA carries higher-than-average ...
Although Ocwen Financial Corp. eked out a $2.6 million net profit for the first quarter – after years of reporting red ink – investors in the company will continue to wonder if the firm’s best days are behind it. In the nonbank’s new 10-Q filing with the Securities and Exchange Commission, the servicing giant summed up its situation best: “An investment in our common stock involves significant risk.” Still, Ocwen soldiers on, striking settlement agreements with regulators, buying another ...
Most mortgage lenders have been primed to focus on the home-purchase market and there is plenty of borrower demand, but housing supply remains a sticking point.
Former CFPB Director Richard Cordray challenged PHH’s captive reinsurance program, ruling that any referral of settlement business that involves payments is prohibited under RESPA…
Private mortgage insurers reported substantial declines in new insurance written during the first quarter of 2018, losing some market share to both the FHA and VA, according to a new analysis and ranking by Inside Mortgage Finance. [Includes two data charts.]
Freddie Mac recently extended a line of credit to an unidentified nonbank seller/servicer, setting off a mini debate about charter creep – and why its regulator approved the initiative in the first place.
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