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Originations
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More Pain, No Gain for Nation’s Largest Home Lenders

June 28, 2018
John Bancroft
With loan production hitting a wall at the megabanks, layoffs are likely to ensue...
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The Wells Fargo Layoff Tally for June: 400 and the Month’s Not Over Yet

June 28, 2018
Paul Muolo
Wells Fargo is the nation’s largest home lender and a bellwether for the overall market.
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Freddie Extends Appraisal Waivers to Condo Purchases and Refis

June 28, 2018
Carisa Chappell
Now, eligible condo loan borrowers can take advantage of the appraisal waiver if ACE deems it unnecessary.
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Short Takes: Ralph Nader Has Some Unkind (And That’s Putting it Nicely) Words for CFPB’s Mulvaney / Mulvaney Viewed Favorably Elsewhere / Nader and the GSEs (Remember that One?) / More M&A for Union Home / A New Hire for Mello

June 28, 2018
Paul Muolo
A few years back, Nader went to bat for Fannie Mae/Freddie Mac shareholders suing the federal government over the GSE net worth profit sweep...
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Does the Future of Mortgage Banking Have a Funny Arrow and Feature Drone Delivery?

June 28, 2018
Internet retail giant Amazon.com is exploring the idea of buying a mortgage banking franchise and making a splash in this highly cyclical business. But two huge questions loom: Will it actually happen? And if so, will Amazon disrupt the residential lending landscape the way it has brick-and-mortar retailers at the shopping mall?
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Smaller Lenders, Nonbanks Kept Chipping Away At Lending Heavyweights as Market Fell in 1Q18

June 28, 2018
Not many mortgage lenders found a way to boost production volume in the first quarter of 2018, but mid-size and smaller shops generally fared better than the industry giants, according to an Inside Mortgage Finance ranking and analysis. [Includes two data charts.]
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HUD Wary of Riskier FHA Loans

June 28, 2018
Housing and Urban Development Secretary Ben Carson this week reiterated concerns about riskier FHA loans that could endanger the health of the program’s Mutual Mortgage Insurance Fund.
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Bank Loan Sales Down Sharply in First Quarter, JPM Especially

June 27, 2018
John Bancroft
Second-ranked JPMorgan Chase reported a hefty 48.3 percent decline in mortgage sales.
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CFPB Expected to Revisit Views on Marketing Services Agreements

June 27, 2018
Yemeng Yang
“There is potential for them to issue more guidance, and we hope it to be the right guidance that’s consistent with 40 years of the RESPA law,” said Kenneth Trepeta…
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A ‘Scratch and Dent’ Market Develops for VA ‘Orphan’ Loans

June 27, 2018
Paul Muolo
Some warehouse lenders are nervous about the VA ‘orphan loan’ mess as well, sources told Inside Mortgage Finance…
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