Nonbank Share of GSE Business Approaching the 50 Percent Mark January 12, 2016 John Bancroft Quicken Loans, ranked second overall in GSE loan deliveries last year, growing its business by 32.2 percent…Read More
It’s Official: FHFA Bans ‘Captives’ From FHLB System; $35 Billion in Advances Must Go – Eventually January 12, 2016 Carisa Chappell and Paul Muolo REITs have gained access to the FHLB discount window with the goal of leveraging their investments in both MBS and servicing rights. Read More
While Many New Originations Haven’t Been Compliant with TRID, Fitch Projects Modest Risk for Non-Agency MBS January 12, 2016 Brandon Ivey The guidance from Fitch could ease some fears among purchasers of non-agency mortgages...Read More
Prospects for New Home-Equity Lending Are Looking Up January 12, 2016 Thomas Ressler “Home-equity lending, for years the red-headed stepchild of our industry, is coming back into favor," said CoreLogic's Sam Khater.Read More
In a Fading 4Q Market, Lenders Lean More on Correspondent and Wholesale Channels January 11, 2016 John Bancroft While nonbank residential lenders lean a little more on TPO channels, banks are still the driving force in the correspondent market… Read More
Citi Prevails in Loan Buyback Dispute – Thanks to Contract Language January 11, 2016 Brandon Ivey CitiMortgage filed the lawsuit after Chicago Bancorp refused to repurchase 11 mortgages.Read More
Mortgage Bankers and Brokers Shed Jobs at Yearend; Loan Officers Still in Demand January 11, 2016 Paul Muolo Although residential lending could fall by 20 percent in 2016, the demand for retail LOs with strong ties to Realtors and home builders should remain strong. Read More
Insurance Company Ups Stake in Stonegate as Lender Hits 52-week Low January 11, 2016 Paul Muolo Stonegate, which lost $22.8 million in 3Q15, likely will report its fourth quarter results sometime in February. Read More
FHFA IG: Agency Did Not Comply With Underwriting Review January 11, 2016 Carisa Chappell As a result, the FHFA IG has reopened its recommendation from a previous audit report...Read More
Short Takes: TRID is Costing Consumers Too. Here’s How… / Midcap Banks Stressed Out? / loanDepot Flies the ‘Marketplace Lender’ Flag / More MSR Deals from IMA / ORM Chief Resigns January 11, 2016 Paul Muolo In a new press release touting its 2015 results, the privately held loanDepot LLC refers to itself on a few occasions as a “marketplace” lender...Read More