Wells Fargo plans to increase originations by putting an emphasis on interest-only mortgages, according to John Shrewsberry, the bank’s CFO. “We are making some modest changes to generate new loan originations, including offering interest-only jumbo mortgage loans to high quality borrowers,” Shrewsberry said late last week during Wells’ earnings call for the second quarter. Wells had...

Former Ginnie Mae President Ted Tozer will join the board of PennyMac Financial Services, the nation's fourth largest home lender, in August.

Home prices aren’t increasing nearly as much as they have in other times when the inventory of homes for sale was low, according to analysts at Capital Economics. They suggest that “cautious” appraised values and tight underwriting by lenders have limited home price appreciation. Home prices are currently rising at an annual rate of around 6.0 percent. According to Capital Economics, current inventory levels and the measure of buyer and seller traffic separately suggest that annual house price growth should currently exceed 10.0 percent. “Although there is no hard data on the subject, we suspect one factor is that cautious home appraisers are preventing larger price gains,” the analysts said. Since early 2015, appraised home values have...

“Last year we did about $23 billion in originations and this year I expect us to hit between $27 billion and $30 billion,” said UWM CEO Mat Ishbia.

The bank’s servicing portfolio remained just about flat at June 30, coming in at $232.4 billion...

A press statement on the sale included no production or servicing information for either company…

Applications are heading northward again...

Currently, lenders are permitted, under certain limited circumstances, to use revised estimates…

Wells Fargo saw an 18.6 percent drop in its GSE business during the April-June cycle, but the three other megabanks had much bigger declines…

All of the mortgages Clayton reviewed for the MBS are safe harbor qualified mortgages.