Mortgage products offered by lenders haven’t changed much since the 1930s and are in a primitive stage, according to Robert Shiller, an economist who helped develop the Case-Shiller home price index. In a new paper published by Yale University’s Cowles Foundation for research in economics, Shiller pushes for greater innovation in the mortgage industry. He is currently a professor at Yale and for years has advocated a product he developed, “continuous workout mortgages,” to no avail ...
Two pages of data showing the top 30 sellers of agency mortgages in 2013 with a break-out for each lender listing average credit scores, debt-to-income ratios, loan-to-value ratios, loan size, purchase-mortgage share and refinance share. All characteristics are shown for the origination channel (retail, correspondent and broker) at each lender.
January 2014 marked the fourth month in a row where combined agency securitization included more purchase-money mortgages than refinances, according to Inside MBS & ABS.
Also, the CFPB is considering requiring more underwriting and pricing information, such as the interest rate, total origination charges, and discount points.
Among other issues, the GAO found that for three of the servicers, their denial rates were significantly higher for Hispanics than for the comparison population of non-Hispanic whites.
New production of single-family agency MBS in January 2014 fell to its lowest monthly volume in five years, according to a new market analysis and ranking by Inside MBS & ABS. Fannie Mae, Freddie Mac and Ginnie Mae generated a total of $67.82 billion in single-family MBS last month, a 10.4 percent drop from December 2013. It was the weakest monthly issuance since January 2009, when $64.39 billion of new agency MBS were produced as world financial markets tried to recover from collapse. Market conditions – if you don’t consider the weather outside – were...[Includes one data chart]
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