Quicken, the nation’s third-largest home loan originator – and number two in retail – is continuing to add positions in “all areas of the business,” said a company official.

The adjustable-rate mortgage share of total originations increased in the first quarter of 2017 as some borrowers shifted to the product with interest rates projected to increase. An estimated $42.0 billion of ARMs were originated in the first quarter of 2017, according to Inside Mortgage Finance. While production was down by 23.6 percent from the previous quarter, total first-lien originations declined by 33.6 percent during that time ... [Includes one data chart]

Originations of interest-only mortgages by a group of top lenders declined in the first quarter, according to an analysis by Inside Nonconforming Markets. A group of 12 prominent IO lenders originated $6.81 billion of the loans in the first quarter of 2017. The lenders’ production was down by 26.7 percent from the previous quarter and down by 19.9 percent from the first quarter of 2016. According to Inside Mortgage Finance, total first-lien originations ... [Includes one data chart]

The nonprime mortgage-backed security issued by Deephaven Mortgage earlier this month was largely similar to a deal the firm issued in April, save for a greater emphasis on mortgages underwritten with less than full documentation. So-called alternative documentation mortgages accounted for 36.5 percent of the $250.13 million MBS Deephaven issued this month, up from a 17.7 percent share of its $221.14 million issuance in April. Non-agency lenders underwriting mortgages ...

We can only assume Sen. Warner knows Freddie Mac is headquartered in his state, which means the company’s employees are his constituents.

The Atlanta-based Angel Oak hopes to double its sales force this year.

Flanagan once headed Cove Financial, which offered a unique rent-to-own product.

U.S. mortgage borrowers were somewhat less eager to tap the equity they have in their homes during the first quarter, but they have plenty of dry powder in a market that’s expected to continue tilting away from refinance lending. Originations of home-equity lines of credit and closed-end second mortgages fell 5.0 percent during the first quarter to an estimated $46.0 billion, according to a new Inside Mortgage Finance analysis. Compared to the sharp 33.6 percent drop in first-lien production, the home-equity sector virtually glowed. The supply of home-equity loans outstanding fell...[Includes three data tables]

For most of the past decade, nonbank residential lenders have eschewed the idea of owning or being affiliated with a federally insured depository for fear of being over-regulated in an already heavily regulated business. But the tide could be turning. Movement Mortgage CEO Casey Crawford this spring bought a controlling interest in First State, a small Virginia bank. Separately, fintech lender Social Finance recently filed an application with the Utah Department of Financial Institutions to open a depository there. SoFi, which branched out from its consumer and student loan business into mortgages, also filed an application with the Federal Deposit Insurance Corp. for deposit insurance coverage. For now, both Crawford – a former professional football player – and the San Francisco-based SoFi aren’t...

Lenders originating nonprime mortgages have a number of different programs for borrowers shut out of the agency market, including an emphasis on reduced documentation requirements. Deephaven Mortgage is among the lenders that have pooled newly originated nonprime home loans into mortgage-backed securities. The company’s recent $250.13 million MBS included a variety of loans, largely focused on non-qualified mortgages. Some 82.6 percent of the loans in the deal were...