Although Carrington does not disclose lending volumes, at March 31, it was the 10th largest servicer of Ginnie Mae loans with a balance of $32.25 billion, according to government data.
Consultant Joe Garrett noted that if investors are worried about marketplace lenders in the current credit environment, just wait until the economy eventually goes south...
Roughly $3.9 billion of mortgages with a USDA guarantee were securitized during the first three months of 2016, with the top five issuers accounting for almost 52 percent of that amount…
It’s no secret that some banks, including Wells Fargo, are retaining GSE-eligible mortgages in portfolio instead of delivering them to Fannie Mae and Freddie Mac. When and if the trend will reverse is anyone’s guess…
Originations of interest-only mortgages increased sharply in the first quarter of 2016, according to a new analysis by Inside Nonconforming Markets. A group of 12 lenders originated $8.72 billion in IOs in the first quarter, up 26.9 percent from the previous quarter and a 29.8 percent increase from same period in 2015. IO originations in the first three months of 2016 even topped the $8.61 billion in IO originations by the lenders in the second quarter of 2015. [Includes one data chart] ...
The Consumer Financial Protection Bureau this week issued an interim final rule showing an 8.5 percent increase in the maximum civil penalties it can obtain for various consumer protection violations…