FHFA Director Mark Calabria this week ended a pilot program that allowed the GSEs to extend lines of credit to nonbanks pledging servicing rights as collateral.
Eli Global, the owner of three active mortgage lenders, has a new name — Global Growth — and a new chairman — George Vandeman. Meanwhile, founder Greg Lindberg remains the sole owner of Eli.
The CFPB received numerous comments on its plan to adjust standards for qualified mortgages. However, industry stakeholders are divided on what steps the bureau should take.
Recently released data from the Home Mortgage Disclosure Act included 28 new fields, such as business-purpose lending, interest-only features and credit score models.
Private MIs and Freddie Mac posted relatively larger gains in first-time buyer business during the second quarter, though the government-insured market was still the biggest source of such loans.
When originations boom, warehouse banks clean up. In the second quarter commitment authority to nonbanks increased by 13.5% overall but usage rates are nearing 70%.