Issuers of non-agency MBS injected some variety into the market in recent weeks with a deal backed solely by non-qualified mortgages and improvements to the representations and warranties on a jumbo MBS. Lone Star Funds issued a $72 million non-agency MBS backed mostly by non-QMs originated by Caliber Home Loans, a lender owned by the private-equity firm. Bloomberg first reported on the deal, which was priced on Aug. 7. Details on COLT 2015-A have been...

Commercial banks and savings institutions continued to grow their investments in agency MBS during the second quarter of 2015, according to a new Inside MBS & ABS ranking and analysis. Banks and thrifts held $1.583 trillion of agency and non-agency MBS on their balance sheets at the end of June. That was up just 0.3 percent from the first quarter, but it was the highest level since the first nine months of 2012, when bank and thrift MBS holdings topped $1.60 trillion. All the gain came...[Includes two data tables]

Commercial banks and savings institutions kept increasing their stake in agency mortgage-backed securities during the second quarter of 2015, according to a new Inside MBS & ABS ranking and analysis.

The manufactured housing industry wants the Federal Housing Finance Agency to push Fannie Mae and Freddie Mac to purchase more manufactured housing loans under its forthcoming “duty-to-serve” rule. The “duty-to-serve” rule was mandated by the 2008 Housing and Economic Recovery Act to steer the government-sponsored enterprises to support underserved markets. In particular, that included manufactured housing, rural housing and affordable housing preservation. A final rule has never been implemented...

Fannie Mae and Freddie Mac have been gaining purchase-mortgage market share from the FHA in recent months, according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. The shifts appear to be part of seasonal home-buying patterns rather than direct competition for mortgages with low downpayments. “From our statistics, we see...

The mortgage finance industry generally supports the final interagency statement on diversity policies and practices issued by the federal banking regulators, the Consumer Financial Protection Bureau and the Securities and Exchange Commission, but called for additional clarification on some of the data being sought in order to maximize its effectiveness – and to limit lender liability. The Mortgage Bankers Association said its members appreciate the flexibility of voluntary participation that is reflected in the final statement, but noted there remain some questions around how this voluntary information will be collected. Three key issues include how the information will be shared once it is collected, what examiners will expect to see, and how lenders should present the information to regulators. On the first question, the MBA raised...

The overall delinquency rate for FHA loans dropped in the second quarter of 2015, although late payments were up in the 30-day and 60-day categories on a seasonally adjusted basis, according to results of the Mortgage Bankers Association’s latest national delinquency survey. The FHA reported slightly different trends. The serious delinquency rate in June was down 30 basis points from March’s 6.42 percent on an unadjusted basis. Taking into account seasonal factors, the drop was just 2 bps. MBA data showed...

While regulators sometimes give lenders the green light to implement new rules before the legal effective date, the Consumer Financial Protection Bureau made no such recommendation for controversial new mortgage disclosures that take effect Oct. 3. An argument could be made for early adoption of the so-called TRID disclosures if they are truly beneficial to consumers and lenders have enough time to test the new forms, said stakeholders. The original effective date was Aug. 1, but that was moved back because of an administrative error by the CFPB. Some lenders have said they were ready for TRID, which consolidates four current forms under the Truth in Lending Act and the Real Estate Settlement Procedures Act into two integrated disclosures, at the beginning of this year. The CFPB is...

All three mortgage production channels saw solid gains in originations from the first quarter to the second quarter of 2015, but correspondents had the best of it. Correspondent lenders generated an estimated $132 billion of new mortgages during the second quarter, according to a new Inside Mortgage Finance ranking and market analysis. That was up 26.9 percent from the first quarter, a few clicks faster than the overall 23.6 percent increase in production volume. The correspondent share edged...[Includes four data tables]

Get Your TRID On. The Consumer Financial Protection Bureau has put out a Know Before You Owe guide for real estate pros to help them navigate the upcoming TILA/RESPA Integrated Disclosure rule, otherwise known as TRID.