The Department of Housing and Urban Development could soon face a technology crisis with roughly 87 percent of its antiquated information-technology systems dying or on the verge of collapse. The warning came from the HUD inspector general in a semiannual report to Congress. The report raised concerns about the poor state of HUD’s IT systems, “of which 87 percent are at or near the end of their life cycle.” These systems include 400 IT products that no longer have technical support, the report noted. The problem is so bad that HUD is having trouble doing mathematical ...

The lag effect was particularly noticeable in the conventional-conforming market…

Groups backing the five-member commission idea include the Mortgage Bankers Association, the Consumer Mortgage Coalition and the Community Mortgage Lenders of America, among others.

Securitization rates appeared to rebound strongly in the first quarter of 2017, with an estimated 79.5 percent of primary-market mortgage originations finding their way into a variety of MBS, according to a new Inside MBS & ABS analysis. That’s up from a 69.1 percent securitization rate for all of 2016 and, if it keeps up for the rest of 2017, it would be the highest mark since 2013. In the fourth quarter of 2016, the rate was 72.7 percent. Both new MBS production and primary-market originations were...[Includes one data table]

Quicken, the nation’s third-largest home loan originator – and number two in retail – is continuing to add positions in “all areas of the business,” said a company official.

The adjustable-rate mortgage share of total originations increased in the first quarter of 2017 as some borrowers shifted to the product with interest rates projected to increase. An estimated $42.0 billion of ARMs were originated in the first quarter of 2017, according to Inside Mortgage Finance. While production was down by 23.6 percent from the previous quarter, total first-lien originations declined by 33.6 percent during that time ... [Includes one data chart]

Originations of interest-only mortgages by a group of top lenders declined in the first quarter, according to an analysis by Inside Nonconforming Markets. A group of 12 prominent IO lenders originated $6.81 billion of the loans in the first quarter of 2017. The lenders’ production was down by 26.7 percent from the previous quarter and down by 19.9 percent from the first quarter of 2016. According to Inside Mortgage Finance, total first-lien originations ... [Includes one data chart]

The nonprime mortgage-backed security issued by Deephaven Mortgage earlier this month was largely similar to a deal the firm issued in April, save for a greater emphasis on mortgages underwritten with less than full documentation. So-called alternative documentation mortgages accounted for 36.5 percent of the $250.13 million MBS Deephaven issued this month, up from a 17.7 percent share of its $221.14 million issuance in April. Non-agency lenders underwriting mortgages ...

We can only assume Sen. Warner knows Freddie Mac is headquartered in his state, which means the company’s employees are his constituents.

The Atlanta-based Angel Oak hopes to double its sales force this year.