One senior mortgage manager, who has been in the business for 25 years., said despite what lenders may say about closing times, actual experience is probably worse. “No one is closing under 30 days,” he said. “Most will be over 50 days.”

To date, most of Citadel's mortgages have been sourced through loan brokers, but recently the company hired a correspondent manager, Alan Peviani...

Wells Fargo was the top issuer in 2Q with $16.0 billion, followed by PennyMac and Freedom Mortgage.

A unit of Cerberus Capital Management is preparing to issue a non-agency MBS backed by loans that have seasoned for an average of 8.9 years...

First-time homebuyer mortgages acquired by the GSEs performed worse than repeat homebuyer mortgages, said the Federal Housing Finance Agency in a new working paper. But that doesn’t necessarily mean they are riskier. Although the study found first-time homebuyers likely to face more mortgage-related challenges, the FHFA said the difference is based on demographics. “They are younger, and have lower credit scores, lower home equity, and less income and therefore are less likely to withstand financial stress or take advantage of financial innovations available in the market than repeat homebuyers,” said Saty Patrabansh, senior economist and author of the white paper. However, once these differences are taken into account he said there appears to be no difference between first-timer and repeat homebuyers in their probability of default.

The average daily trading volume in agency MBS fell to $183.7 billion in June, the lowest reading of the year and another sign that all is not well for anyone who makes their living off of actual trading as opposed to being involved in new issuance. “There are a lot of people out there buying on credit and keeping MBS,” said Christopher Whalen, a senior managing director in the Financial Institutions Ratings Group at Kroll Bond Rating Agency. Whalen added...

During the first six months of 2015 UWM funded $6.78 billion. “It was our best six months ever,” CEO Mat Ishbia told IMFnews...

The dollar volume of the jumbo security differs significantly from a $189 million deal suggested by American Mortgage Consultants last week

Although some mortgage originators might brag – or even advertise – that they can close a loan in under 30 days, it’s not likely to happen, at least not in practice. According to interviews conducted by Inside Mortgage Trends over the past two weeks, a variety of factors can derail a closing – including many circumstances that an originator just cannot control. Such circumstances can include insufficient funds on the part of the borrower, scheduling mix-ups ...

While reform of the nation’s housing system and the government-sponsored enterprises languishes on Capitol Hill, three important GSE risk-sharing innovations could revolutionize housing finance independent of Congressional action, according to experts at the Urban Institute’s Housing Finance Policy Center. “Fannie Mae and Freddie Mac have guaranteed at least half of all new mortgage originations for the past eight years. The two GSEs’ critical role ...