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Home » Topics » Inside Mortgage Finance » Originations

Originations
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New York Regulators Freeze FHA’s MIP Cancellation Policy

July 11, 2013
George Brooks
Regulators in New York state are concerned that the increased MIP could raise the loans’ APR and convert them into subprime.
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PREO Mortgage Bought by First Key, a Cerberus Unit

July 11, 2013
Paul Muolo
Cerberus' purchase of PREO Mortgage of Atlanta could be the beginning of something big for the company.
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Carrington Mortgage EVP Rick Sharga Departs for Auction.com

July 11, 2013
Paul Muolo
Over the years Sharga has briefed government organizations such as the Federal Reserve and Senate Banking Committee.
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Short Takes: Wells Employee Arrested in Money Laundering Probe / Applications Off 25 Percent at Some Shops / Reg Relief for Small Balance Mortgages / MBA Wants Say on Securitization Platform / Foreclosures Continue to Tumble

July 11, 2013
Paul Muolo
In general, mortgage applications are off 25 percent from their peak. Meanwhile, a Wells Fargo employee with an NMLS number has been arrested.
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Nomura Enters the Jumbo MBS Arena, Bond Heavy on California Loans

July 10, 2013
Brandon Ivey
The jumbo MBS market has another new issuer: Nomura. But the credit enhancement on its first deal was increased due to geographic concentration risk.
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FHA Wants to Tighten Quality Control Practices, Post-Endorsement Reviews

July 10, 2013
George Brooks
The FHA is considering whether to establish a maximum limit for “unacceptable” loans as well as a process to make post-endorsement reviews more efficient.
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Short Takes: Zero-Down Mortgages for Up to $650,000 / Sandler No Longer in Total Love with Wells / National Housing Trust Fund Robbed by Regulators? / GOP Up in Arms Over Big Brother CFPB / New FHA Bill?

July 10, 2013
Paul Muolo, Thomas Ressler, and Charles Wisniowski
Need a zero-down mortgage for $650,000? Another Washington-area credit union steps up to the plate.
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Credit Unions Increase MBS Holdings in First Quarter

July 9, 2013
John Bancroft
Agency MBS accounted for 98 percent of credit union investments in mortgage securities, according to Inside MBS & ABS.
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VA Urges Servicers to Consider Principal Reduction for Distressed VA Loans

July 9, 2013
George Brooks
In recently issued guidance, the VA said reduction of principal in connection with a loan modification may produce a higher expected return for a servicer than termination of the loan.
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'Data-Driven' CFPB Defends Data Collection Efforts

July 9, 2013
Thomas Ressler
Testifying before a House subcommittee, the CFPB's Antonakes emphasized the fundamental importance of data analysis to the bureau’s mission.
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