New Rulemaking Agenda Suggests a Restrained Role for the CFPB May 15, 2018 Yemeng Yang The updated agenda is the CFPB’s first under Mulvaney’s leadership.Read More
Short Takes: USMI Seconds that GSE Emotion / Don’t Hold Your Breath / Mid America Enters the Warehouse Arena / Fannie Selling NPLs / A Recession Coming? / Freddie Gets a New Chief Compliance Officer May 15, 2018 Carisa Chappell and Paul Muolo Barry Habib, who heads MBS Highway, believe that within two years, the U.S. will be in a recession...Read More
Provident and Stearns Lending Lost Money in 2017: Moody’s May 15, 2018 Brandon Ivey Moody’s detailed profitability levels for four large private nonbanks: Freedom Mortgage, Provident Funding Associates, Quicken Loans and Stearns Lending. Read More
Secondary Market Activity Strong in 2017 May 14, 2018 John Bancroft Originators also sold $483.13 billion of loans to unaffiliated buyers outside of the agency market…Read More
GSE Credit Window for Purchase Loans Opened Slightly in 1Q18 May 14, 2018 John Bancroft In the first quarter, 12.61 percent of purchase loans sold to the GSEs fell into the highest risk category…Read More
Fannie: Appraisals Still Needed Despite Technological Advances May 14, 2018 Carisa Chappell Fannie Mae's Renee Schultz said the decision to offer property inspection waivers is probably the longest running pilot the GSE has ever had… Read More
Lenders Quantify Cost, Impact of CFPB’s ATR Rule May 14, 2018 Brandon Ivey Lenders estimated that ATR/QM added $139 per loan to their ongoing origination costs.Read More
Short Takes: Ditech Ready to Roll Out Jumbo Product? / Who is Samuel Martini and Why Does he Like Ditech? / An Explanation of Legal Risks / What’s $164 Trillion Among Friends? May 14, 2018 Paul Muolo Total U.S. debt outstanding is just over $21 trillion. Prior to the financial crisis, U.S. mortgage debt was actually larger than Treasury debt...Read More
Nonbanks Ready to Crank up the Non-QM MBS Machine May 11, 2018 Brandon Ivey Starwood Property Trust, a REIT largely focused on commercial mortgages, has been stockpiling non-QMs…Read More
What Ails the Mortgage Market? For Starters, a Lack of Homes to Buy… May 11, 2018 Brandon Ivey Flagstar says the problem is exacerbated by a lack of inventory in certain geographic markets…Read More