Private mortgage insurers remained busy during the third quarter of 2017, but the VA loan guar-anty sector saw the biggest growth in primary MI business, a new Inside Mortgage Finance ranking and analysis reveals.
Tax reform legislation detailed last week by Republican leaders in the House would have a nega-tive impact on the housing market, according to some industry analysts. The bill prompted a strong re-action from industry participants, who are hoping for a variety of changes in the legislation.
PennyMac Financial Services is set to launch broker-direct originations, complementing its correspondent production and retail originations. Officials note that in-house technology development plays a major role in the nonbank’s efforts to increase originations and servicing.
As the mortgage industry prepares for a substantially expanded Home Mortgage Disclosure Act data collection and reporting environment from the Consumer Financial Protection Bureau, compliance experts are getting a clearer sense of some of the biggest challenges lenders will face – most notably on the technology front as well as fair lending scrutiny.
Capital One this week announced that it’s throwing in the towel on mortgage finance, laying off staff and shuttering offices in an attempt to improve profits. And now comes the big question: will other banks follow in its wake?
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