CFPB analyst Megan Thibos reminds consumers that, “During the foreclosure crisis, many borrowers with subprime mortgages faced sharply increased mortgage payments and were unable to make those payments.”

Secondary market gains headed south in the final three months of 2016, and so far it’s not looking too bright for the first quarter of 2017, which has about four weeks to go before it’s a wrap. According to a new report from Piper Jaffray, gain-on-sale margins declined to an average of 94 basis points in the fourth quarter, compared to a more robust 106 bps in the third. Piper said GOS is currently tracking at about 88 basis points. The research firm’s coverage universe includes...

Go figure: An "app" company called Snap that may never make a nickel is now worth more than Fannie Mae and Freddie Mac...

The FHA is nearing full implementation of a new loan review system (LRS) for managing FHA’s Title II single-family quality-control processes. No specific implementation date has been set but it could be sometime in the second quarter, the agency said. The LRS builds on FHA’s efforts to align the documentation of loan-review results. In addition, it incorporates the Single-Family Housing Loan Quality Assessment Methodology or defect taxonomy.The FHA said the new system would not be used to manage any aspect of the agency’s standard loan origination or endorsement processes. Rather, it would be used to review of test cases submitted by lenders seeking unconditional direct-endorsement authority. It would be used as well for various post-endorsement reviews of forward single-family loans. After the ...

Lenders originated $4.93 billion of rural housing loans with a U.S. Department of Agriculture guarantee during the fourth quarter of last year, 33.2 percent more than volume reported during the same period the year prior, according to the Housing Assistance Council’s report on USDA Rural Housing program obligations. USDA provided guarantees under the Section 502 Guaranteed Rural Housing Loan program to 34,412 rural housing loans in the fourth quarter, up from 26,889 loans ($3.7 billion) at the end of 2015. The program is the largest of the USDA’s single-family housing programs. For the Section 502 Direct Guarantee program, guarantees exceeded $196.6 million (1,492 loans), up from $174.7 million (1,334 loans) at the end of 2015. Very low-income (VLI) loan obligations as a percentage of taxpayer funds allocated to the USDA direct loan guarantee program were 38.9 percent, exceeding the ...

But the numbers need to be put into perspective: Agency MBS production in the first two months of 2017 was up 36.3 percent from the same period last year…

Lenders that have representatives who are members of the UI collaborative include Bank of America, Quicken Loans, and Nationstar Mortgage…

Wells Fargo once again dominated the purchase business with $135.5 billion funded in 2016, more than double its closest competitor, JPMorgan Chase…

The bank statement loans and TRID exceptions prompted Fitch to apply higher loss severities to the MBS, which play a role in credit enhancement levels…

Recently, KBW hired Wall Street veteran Brian Wornow as managing director in charge of its financial services group...