At yearend, JPM held $157.1 billion of what it calls “prime mortgages” (including option ARMs), a stunning 48 percent increase over the past 12 months.
The volume of home loans with private mortgage insurance that were securitized by Fannie Mae and Freddie Mac dropped 17.1 percent from the third to the fourth quarter of last year, according to a new Inside Mortgage Finance analysis and ranking. That’s not so bad, given that total mortgage-backed securities production by the two government-sponsored enterprises was down 19.9 percent during the last three months of 2015. The GSEs securitized ... [Includes two data charts]
Despite receiving hundreds of comments against the proposed rule to ban captive insurance companies from membership in the Federal Home Loan Bank system, the Federal Housing Finance Agency forged ahead this week and issued a final rule banning them from the FHLBanks, upsetting many in the mortgage industry. The decision forces FHLBank members that had used their captive insurers to join the system prior to the FHFA’s proposed rule, many of which are ...
A significant amount of mortgage originations that were set to be completed before the end of 2015 were pushed into early 2016, according to industry analysts. The closing issues could be related to the Consumer Financial Protection Bureau’s “TRID” integrated disclosure rule, with first quarter production expected to see a boost as lenders adjust to the new requirements. Late this week, JPMorgan Chase offered the first look at origination trends for major lenders ...
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