Small lenders have accounted for a growing share of contributions to non-agency jumbo mortgage-backed securities. Some deals have included more than 70 lenders, with most of the lenders contributing less than 5 percent of the volume of mortgages included in a security. While the lenders’ individual contributions to a particular jumbo MBS are small, they add up to significant market share, particularly when issuers don’t identify the lenders in prospectus documents filed with the Securities ... [Includes two data charts]
The guaranty fees charged by the government-sponsored enterprises are currently well below levels that would make issuing non-agency mortgage-backed securities attractive for originators of conforming mortgages, according to industry analysts. The g-fees charged by Fannie Mae and Freddie Mac have nearly doubled since 2011 and hit an average of 50 basis points in the first quarter of 2013, according to the Federal Housing Finance Agency. The FHFA has directed the GSEs to increase their g-fees as part of ...
Among the top 20 lenders in the nation, PennyMac and Nationstar had the highest growth rates, according to new figures compiled by Inside Mortgage Finance.
FHA chief Carol Galante expressed concern about the absence of any provision in the bill that would ensure servicer accountability for their performance.
Ocwen will have plenty of "high touch" loans to work on when it finally takes control of the OneWest portfolio. Meanwhile, the second lien market is heating up.
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