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Home » Topics » Inside Mortgage Finance » Originations

Originations
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Private MIs Finish 2012 With Strongest Production in Four Years

February 14, 2013
John Bancroft
Thanks, in part, to HARP loans private mortgage insurers in 2012 posted their best year since the financial market collapse back in 2008, according to new figures compiled by Inside Mortgage Finance.
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Former Countrywide Executive Up for Top Job at Vericrest?

February 14, 2013
Paul Muolo
Joe Anderson, who worked at Countrywide Financial Corp. for 17 years and then Nationstar, is considered the top candidate to get the CEO job at Vericrest Financial.
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Stonegate Launches Jumbo Conduit, But No Securitizations Right Away

February 14, 2013
Paul Muolo
Stonegate Mortgage has launched a new jumbo conduit, hiring Eric Schlotz, a 15-year veteran from GMAC-RFC in Minneapolis, to manage the operation.
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Short Takes: The QRM Rule: 5% Down? / Jumbo Prices Getting Frothy? / Applications Fall but Don’t Panic / MSR Auctions of All Sizes

February 14, 2013
Paul Muolo and Brandon Ivey
Three senators are pushing for 3 percent downpayment language on the QRM rule.
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HUD’s Disparate Impact Rule Shifts Burden Of Proof to Lenders, Industry Experts Say

February 14, 2013
A new final rule from the Department of Housing and Urban Development may make it harder for lenders to defend against allegations of racially discriminatory policies and even more difficult to structure an effective compliance program under the Fair Housing Act, according to legal experts. Issued last week, the rule provides that HUD or a private plaintiff can establish a so-called disparate-impact liability under the FHAct, even if there is no intent to discriminate. The agency said the rule establishes no new law – since HUD and appellate courts have upheld the disparate impact theory in fair housing cases for decades – and aims to standardize the minor variations for determining liability under the statute. The rule establishes...
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Obama to Congress: ‘Take a Vote and Send Me’ HARP 3.0

February 13, 2013
Charles Wisniowski
President Obama, during his State of the Union address, urged Congress to get the HARP 3.0 refinancing program off the ground.
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Industry Expects GSEs to Double Seller Net-Worth Minimum

February 13, 2013
Paul Muolo
Officially, the GSE net-worth minimum is set at $2.5 million, but some in the industry think it will double eventually.
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Industry Can Question CFPB on Mortgage Rule Interpretations

February 13, 2013
Paul Muolo
The CFPB said mortgage lenders can ask the agency "important" interpretation questions on the many rules that it finalized this year.
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Short Takes: FHA Chief Worries About Pricing Borrowers Out of the Market / Fortress Has Plenty of Cash to Spend on MSRs / Former Freddie Executive Key Player in Cerberus REIT / New Penn Hires Correspondent Chief / Fay Servicing Who?

February 13, 2013
Paul Muolo and George Brooks
Fortress Investment Group has raised $1.6 billion to buy mortgage assets, including servicing rights.
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FHA Likely to Price Its Way to Lower Market Share

February 12, 2013
John Bancroft
FHA single-family production rose 22.3 percent in 2012, but another increase in the mortgage insurance premiums will likely accelerate the program’s three-year decline in market share.
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