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Correspondent Channel Lost Some Share of Gov’t Market in 2016

March 15, 2017
John Bancroft
The banking industry continued to backpedal away from the business of servicing home mortgages for other investors during 2016, according to an exclusive new Inside Mortgage Trends analysis of call-report data....
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Corporate Tax Reform Could Complicate Recapitalizing Fannie and Freddie

March 15, 2017
Carisa Chappell
Fannie Mae and Freddie Mac could have a harder time recapitalizing if their deferred tax assets are negatively impacted by corporate tax reform, according to one GSE spectator....
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Industry Groups Call for Changes to National Flood Insurance Program

March 15, 2017
George Brooks
The Mortgage Bankers Association this week urged Congress to support two bills that would make major changes to the National Flood Insurance Program, including clarification that would make private flood insurance acceptable to mortgage lenders....
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Bulk of Fannie Mae's Latest NPL Sales Goes to Goldman Subsidiaries

March 15, 2017
Carisa Chappell
Subsidiaries of Goldman Sachs (MTGLQ Investors) and Balbec Capital (Igloo Series II Trust) were the winning bidders of Fannie Mae's latest nonperforming loan sale announced this week. The four pools included a total of about 9,400 loans with an unpaid principal balance of $1.68 billion....
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Nationstar in the CFPB’s Crosshairs Over HMDA Reporting

March 15, 2017
Thomas Ressler
Nationstar, the residential mortgage servicer, revealed recently it is being investigated by the CFPB over issues related to complying with the Home Mortgage Disclosure Act....
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Short Takes: Mortgage Apps Up/Moody's Upgrades a Wells MBS/Quicken Finds Appraisal Disconnect/the FOMC Concludes its Meeting

March 15, 2017
Thomas Ressler
Mortgage applications rose 3.1 percent, on a seasonally adjusted basis, for the week ending March 10, 2017, versus the week before, the Mortgage Bankers Association announced Wednesday morning. The MBA's Refinance Index rose 4 percent, and its Purchase Index was up 2 percent…
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Large Gains in Correspondent Lending for Conventional-Conforming and Jumbo Sectors

March 14, 2017
John Bancroft
Correspondent production of conventional-conforming mortgages increased by 51.9 percent from 2015 to 2016.
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Walter Takes $22.2 Million Loss in Fourth Quarter, $529.2 Million Loss for the Full Year

March 14, 2017
Brandon Ivey
Walter also stopped originating reverse mortgages in January.
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AGs from 15 States Back PHH in CFPB Case, Citing Constitutional Issues

March 14, 2017
Thomas Ressler
The AGs claimed that the CFPB’s governance structure violates the separation of powers in ways that directly undermine the interests of federalism.
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Short Takes: Purchase-Mortgage Apps Increase / Hearing on National Flood Insurance Program / More 'Daily Simple Interest' MBS / Foreclosure Inventory Normalizes

March 14, 2017
Brandon Ivey
Applications for mortgages related to purchases of new homes in February increased by 16.0 percent from the previous month.
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