The report, conducted by Alvarez & Marshall, was making the rounds in Washington Wednesday morning. John O’Neill, a managing director in the evaluation firm of Alvarez & Marsal, confirmed to IMFnews that his company conducted an evaluation on the GSEs for the Blackstone Group.
W.J. Bradley Mortgage Capital announced a number of new jumbo mortgage products this week. Among the offerings is a loan with a 10 percent downpayment requirement for balances of up to $850,000.
The only sector that has a higher securitization rate is the government-insured market, where Ginnie Mae production represented 98.5 percent of FHA and VA lending.
M&A specialists believe that some lenders obtain their Ginnie approvals merely for the purpose of increasing their franchise value without having solid plans to issue securities.
Coping with the potential for fair lending violations in the new qualified-mortgage world is a source of high anxiety for many compliance professionals in mortgage finance. But Gregory Imm, chief compliance officer and director of community affairs and fair lending and responsible banking at Fifth Third Bank, recently shared some lesser-known considerations that should increase industry representatives’ confidence in their compliance and readiness. Speaking to participants in a recent webinar sponsored by Inside Mortgage Finance, an affiliated publication, Imm said the first area is measurement. “Institutions need to establish key performance risk indicators of what should be measured, and not what is convenient to measure,” he said. “I say ‘convenient’ because those are the activities that are easy to measure because you have the data at your fingertips.”