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Ginnie Mae Lays Down Law on VA Churning, Warns Select Group of Issuers They Face Banishment

February 8, 2018
Paul Muolo
Issuers cited by Ginnie Mae are expected to deliver a corrective action plan...
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Better Mortgage Launches Refi Program for Airbnb Hosts, Providing Favorable Treatment to Income from Primary Residences

February 8, 2018
Brandon Ivey
Better Mortgage will use a borrower’s average Airbnb earnings from the last 24 months...
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Short Takes: The Top VA IRRRL Lenders / Tax Cuts Coupled with More Government Spending, a Recipe for Disaster? / If Habib’s Interest Rate Prediction Comes True, Watch Out Below / CFPB Wants Feedback on Enforcement Processes / A New Title for Amy Brandt

February 8, 2018
Paul Muolo and Thomas Ressler
Analyst Barry Habib of MBS Highway told us last week that once the yield breaks above 3.00 percent it’s only a matter of time before it hits 3.80. Just think of what that might do to the mortgage business…
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Government, Jumbo Sectors Take Biggest Lumps in Fourth-Quarter Lending Slump, ECM Gets Traction

February 8, 2018
New lending in the conventional-conforming market stayed on an even keel in the fourth quarter of 2017, likely buoyed by a surge in refinance business.
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Lenders Seek Access to Department of Health and Human Services Database in Lieu of Income Verification by IRS

February 8, 2018
Ongoing issues with the income-verification system at the Internal Revenue Service have prompted lenders to seek other options to verify the income of mortgage borrowers. In a new request to the Treasury Department, the Consumer Mortgage Coalition suggested that a database from the U.S. Department of Health and Human Services is a viable alternative to the IRS system.
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Retail Loans Less Risky in Agency Market

February 7, 2018
John Bancroft
Although Freddie Mac had a higher average credit score than its rival GSE, Fannie Mae had slightly lower average DTI and LTV ratios…
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Guaranteed Rate Hires Quicken Executive as New President of Online

February 7, 2018
Paul Muolo
At Quicken, Lombardi served as director of mortgage banking.
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Freddie Mac Looks to Carve Out New Niche for Specified Pools

February 7, 2018
Carisa Chappell
Mortgages with low loan balances appeal to investors because of their lower prepayment risk…
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Short Takes: The FHFA Version of Mick Mulvaney / Political Appointees at the FHFA? / Waiting on Hensarling’s GSE Draft / A Strong Profit for Genworth / Reverse Lender Goes Forward

February 7, 2018
Paul Muolo
Rep. Hensarling, a Republican from Texas, has yet to unveil a legislative blueprint…
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Mortgage Profits at Depositories Tumbled 29 Percent in 2017

February 6, 2018
John Bancroft
Many lenders cited increased competition in a declining market for the weaker results…
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