Thirty-year fixed-rate mortgages have served borrowers relatively well, but there are issues that could be addressed by an alternative product, according to new research from staff at the Federal Reserve Bank of New York. “Ideally, an alternate mortgage instrument would alleviate the downpayment constraint associated with the transition to homeownership, eliminate any scope for discrimination in mortgage qualification or pricing and allow ...

Originations of adjustable-rate mortgages were nearly level in 2014 compared with the previous year, according to a new ranking by Inside Nonconforming Markets. The ARM share of total originations increased because mortgage production overall was down in that time, though some big banks that dominate ARM originations also slowed their production. An estimated $198.0 billion in ARMs were originated in 2014, up 1.0 percent ... [Includes one data chart]

Interactive Mortgage Advisors is working on several servicing transactions totaling about $20 billion in product. But the receivables are being offered through private negotiation only...

The non-agency mortgage business looks attractive to many companies, but it is a difficult market to get into, according to experts speaking at a mortgage servicing conference sponsored by Information Management Network this week in New York. Non-agency originations outside of portfolio jumbos have been limited due to certain allowances for the government-sponsored enterprises and the lack of demand for mortgage-backed securities, among other issues ...

For the past year, Nationstar Mortgage has been working toward offering a non-QM refinance product.

Although much of the discussion about nonbank servicing standards has focused on capital, the CSBS framework will cover considerably more ground than that.

In total, 16 groups signed the letter, including the American Bankers Association, the Community Mortgage Lenders of America, and the National Association of Realtors...

More than a year after standards for qualified mortgages took effect, a number of lenders are willing to offer non-QMs, but production has been concentrated on affluent borrowers. Lenders seem less willing to offer non-QMs to borrowers with lower credit scores or higher loan-to-value ratios. For the past year, Nationstar Mortgage has been working toward offering a non-QM refinance product. The loan would target non-agency borrowers in the nonbank’s large servicing ...

Real estate agents have a positive outlook for the spring homebuying season, especially first-time homebuyers, according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. Tom Popik, research director of Campbell Surveys, said homebuyer traffic was higher than expected during the winter and demand from first-time buyers is expected to be strong in the coming months. “Rising interest rates may stimulate the market as homebuyers ...