Better loan grading on the way?

California led all states in VA mortgage securitization with $5.6 billion, 60.8 percent of which were refis.

According to a statement issued by Guild, the acquisition will make the lender/servicer “one of the largest independent mortgage banking companies in Texas.”

Meanwhile, David Lykken of Transformational Mortgage Solutions told us he was the consultant who “got Chad Overhauser in the business and helped him start AmeriPro.” Overhauser is the president of AmeriPro…

The three agencies produced $114.71 billion of new single-family MBS last month, a 5.3 percent increase from April’s volume.

According to figures compiled by Inside Mortgage Finance, Caliber ranks 13th among originators, based on first quarter figures and 17th among servicers.

In California, the average Fannie and Freddie loan was $307,302, in line with the state’s 2015 average of $310,185.

The letter is meant to counteract correspondence sent earlier in the week to Watt from 10 trade organizations and community groups that want the GSEs to build capital...

Officials at Bayview Loan Servicing note that the loans available to correspondents and brokers in the lender’s portfolio lending program allow borrowers shut out from agency mortgages to qualify. “All of the agency and qualified mortgage products that are out there look the same,” Ski Swiatkowski, vice president of portfolio product marketing at Bayview, said last week during a webinar hosted by the lender. Bayview, whose owners include affiliates of The Blackstone Group, offers five ...

Determining a self-employed borrower’s ability to repay can be one of the more challenging underwriting tasks for non-agency lenders. Shelley Callaghan, a senior marketing program manager at MGIC, said one of the main issues to consider when underwriting borrowers with income from partnerships or S corporations is the pattern of cash distributions from the business to the potential borrower. A number of nonbanks have launched non-agency programs for self-employed ...