Home-Equity Lending Up Sharply in 2Q18, but Market Far Below Its Potential September 13, 2018 John Bancroft Mortgage lenders generated an estimated $54.0 billion of new home-equity loans during the second quarter, up 18.7 percent…Read More
September Issuance of Final FHA Condo Rule Unlikely September 13, 2018 George Brooks So far, the final rule has not been delivered for OMB review, a process that in the past has sometimes taken months to complete.Read More
Short Takes: Wells Fargo’s (Mortgage) Job Cuts / Annaly Poised to Buy More MSRs? / FHFA Seeks Comment / Eight Consecutive Quarters of Feeling Bad About Profit Margins / PenFed Hires a TV Journalist September 12, 2018 Paul Muolo Annaly may use the proceeds to fund additional acquisitions of mortgage servicing rights… Read More
S&P Estimates $63B of CMBS Exposure to Hurricane Florence September 12, 2018 Yemeng Yang The CMBS transactions with the highest potential exposure are collateralized by shopping malls and office properties in Northern Virginia...Read More
Ginnie Mae MBS Issuance Nudges Higher in August but Trails 2017 September 12, 2018 John Bancroft Through the first eight months of the year, Ginnie issuance was down 11.0 percent...Read More
A Few Silver Linings in the Origination Downturn: Improved GOS, More MSR Sales September 12, 2018 Paul Muolo Wedbush estimates that originations will fall by 8.0 percent this year…Read More
Short Takes: What Will Become of the GSEs’ CSP? / How Much Is it Worth? / Capital One Warehouse Joins MBA / Two Utah Nonbanks Celebrate Anniversaries / PRMI Hires Former Wells Fargo LO September 11, 2018 Paul Muolo The nonprofit exchange must pay for any “property” associated with CSS…Read More
Eager to Buy Jumbos, Redwood Offers a ‘Working Capital’ Option September 11, 2018 Brandon Ivey During the second quarter Redwood deployed $40.0 million in customized financing for nonbanks…Read More
Many Lenders Plan on Keeping Underwriting Standards ‘As Is’ September 11, 2018 Brandon Ivey One lender confessed: “I think we’ve been too accepting of credit problems and we are going to start pulling back now…”Read More
Stearns Launches ‘Partnership’ Program, Hopes to Buy Stakes in Many Lenders September 10, 2018 Paul Muolo Schneider told IMFnews the Blackstone-owned lender/servicer is presently working on other deals...Read More
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