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Home » Topics » Inside Mortgage Finance » Originations

Originations
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Investor Group: Jumbo MBS Issuers Continue to “Shop” for Ratings

October 2, 2013
Brandon Ivey
Critics contend that jumbo MBS investors don’t have access to mortgage documents.
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Federal Reserve Says Borrowers or LOs May Have Misreported Applicant Income

October 2, 2013
George Brooks
The Federal Reserve is pointing its finger at both loan officers and applicants for the misreporting of borrower income.
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Government Shutdown May Soon Roil Mortgage Market, 98 Percent of HUD/FHA Off Duty?

October 2, 2013
Paul Muolo
FHA claims it is still endorsing loans but only 2 percent of its staffers are on duty. Also, the USDA mortgage program lies dormant.
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Short Takes: How Bad is the Mortgage Job Picture? We Won’t Know / FICO Scores Headed South for Government Workers? / Redwood Wants Gradual Easing of GSE Loan Caps / New Penn Unveils Mini-Correspondent / SEC Goes Easy on Enforcement?

October 2, 2013
George Brooks, Brandon Ivey, and Paul Muolo
As the government shutdown continues and many federal workers go without pay checks, there’s a growing concern that these potential borrowers will see their credit scores get dinged.
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Wells Fargo Will Pay Freddie Mac $869 Million to Settle Pre-2009 Buybacks

October 1, 2013
Charles Wisniowski
Wells Fargo is the latest megabank to settle buyback claims with a GSE. Who might be next?
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Second Shellpoint Jumbo MBS Deal Delayed

October 1, 2013
Brandon Ivey and Paul Muolo
Sources contend that other pending jumbo deals could be reduced in size until the market improves.
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Brokers Contemplate Switch to Correspondent Status to Survive CFPB Rules

October 1, 2013
Thomas Ressler
Some in the mortgage broker community have suggested that operating as a mini-correspondent could help brokers bypass points-and-fees complications with the qualified mortgage definition under the ATR rule.
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REIT With Ties to Freedom Mortgage Moves Closer to IPO Date

October 1, 2013
Paul Muolo
A flurry of new SEC filings suggests that Cherry Hill Mortgage Investment Corp. may go public this week, possibly by Friday.
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Short Takes: What Government Shutdown? Senate Panel Meets on Non-Agency Market / CashCall Offering a 2.99 Percent Mortgage / Stonegate Updates IPO Filing / How to Best Loosen Mortgage Credit? / Mark Korell Returns to Mortgage Banking

October 1, 2013
Brandon Ivey, Paul Muolo, and Charles Wisniowski
Is refi specialist CashCall still on the auction block? It’s hard to say since the company doesn’t return telephone calls about the matter.
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Collateral Still Key Factor in Keeping Applicants From Mortgage Approval

September 30, 2013
John Bancroft
Collateral was much less of an issue in the purchase market, accounting for just 14 percent of conventional denials.
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