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It’s Official: Fannie Reduces LTV Maximum to 95 Percent for Most Loans

August 21, 2013
Paul Muolo
With Fannie lowering its LTV maximum it will reduce the pool of eligible GSE borrowers and likely shift those loans over to FHA, which means private mortgage insurance firms will lose business.
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Short Takes: Cerberus Eyes More Mortgage M&A / California Lenders Expand to East Coast / Altisource Buys Equator / CFPB Slams Nonbanks and Depositories for Poor Servicing Practices / CFPB Targets Morgan Drexen

August 21, 2013
Paul Muolo and Thomas Ressler
Cerberus Capital is contemplating purchasing additional mortgage banking firms. Meanwhile, the CFPB doesn't like what it sees in the servicing space when it comes to customer service.
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Mortgage Broker Market Share Matches All-Time Low, Retail at a High

August 20, 2013
Paul Muolo
Mortgage brokers are continuing to lose market share, but the decline could be temporary, especially if the megabanks run out of refis.
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HUD Relaxes Eligibility Waiting Periods for Bankruptcies, Hard Times

August 20, 2013
George Brooks
Currently, FHA requires a waiting period of two years in bankruptcy cases and three years after a foreclosure or short sale before a borrower can apply for an FHA loan.
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Consumer Finance Lender Springleaf Files IPO, Targets Acquisitions

August 20, 2013
Paul Muolo
With the retreat of banks from the non-prime lending space, Springleaf says it is strategically positioned to grow in the years ahead.
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Short Takes: How Many Blown Dodd-Frank Deadlines Are There? / Chase Layoffs Hit San Ramon / Navy Federal Actually Cuts Rates / A Five-Percent Mortgage Soon? / CoreLogic Has Something for Servicers

August 20, 2013
Paul Muolo and Thomas Ressler
Okay, so banking regulators have blown multiple Dodd-Frank rule making deadlines. But for now the QM rule is on track. Right?
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Mortgage Banking Profits Surged in the Second Quarter

August 19, 2013
John Bancroft
Combined with the 15 companies that previously reported earnings, mortgage banking income jumped 10 percent in the second quarter, to $7.51 billion.
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NAFCU: Loss of Fannie, Freddie Would Have ‘Significant Impact’ on Credit Unions

August 19, 2013
Charles Wisniowski
Roughly, 60 percent of real estate loans made by credit unions are sold to Fannie Mae and Freddie Mac, compared to only 44 percent for all financial institutions.
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Short Takes: Provident Top Ranked Table Funder in 2Q / Realty Giant Files to Go Public, Cites Mortgage Risks / Mini-Correspondent Programs Sprout Up / Ex-Fannie Executive Wants Justice, Privatization / How to Spy on the CFPB

August 19, 2013
Paul Muolo and Thomas Ressler
Mini-correspondent lending is hot, but wholesale may be on the decline. Surprise: RE/MAX files to go public.
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CFPB Updates Mortgage Examination Guidelines

August 16, 2013
Thomas Ressler
The CFPB is sharing with industry what examiners will look for when assessing the ability-to-repay, qualified mortgage and other key rules.
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