Will the FHFA trim cash-out refis by Fannie Mae and Freddie Mac? For now, all is quiet on the topic. In other news: HUD ushered in new regulatory changes for FHA condo financing, making it easier for borrowers and lenders.
One of the best kept secrets in the industry surrounds CEO compensation at the nation's largest nonbank originators. According to interviews conducted by IMF, some CEOs earn $10 million to $15 million per year.
Lenders of all shapes and sizes reported eye-popping increases in production volume from the first to the second quarter of 2019. At the midway point, this year was running 11.5% ahead of the pace in the first half of 2018.
Waterstone Bank plans to test the waters of the non-QM market, a niche that most depositories have avoided. Is this part of a growing trend or just an isolated detour into the unknown?
Earlier this year, Wells Fargo offloaded roughly $20.7 billion in Ginnie servicing rights. The buyers? A bank and a nonbank. Meanwhile, the Equifax data hack will cost upwards of $700 million in settlement costs.
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