Mortgage brokers and correspondents helped fuel the surge in agency mortgage-backed securities issuance during the third quarter of 2014, according to a new Inside Mortgage Trends analysis of loan-level MBS data. Correspondents originated 35.0 percent of the loans securitized by Fannie Mae, Freddie Mac and Ginnie Mae during the third quarter, up slightly from the first two quarters of the year. Likewise, the share of broker originations edged up to 11.3 percent in the most recent three-month period.Wells Fargo ranked as the biggest seller of third-party originations during the first nine months of the year. The company pulled out of the broker market, although a few such loans trickled into agency MBS this year, but correspondents accounted ...

In fact, it was the highest quarterly volume in new flow business for the MI sector since the second quarter of 2008.

In the retail channel, LoanDepot ranks fifth among all nonbanks, a figure that excludes what Mortgage Master brings to the table.

The new documentation was released in conjunction with a non-agency RMBS reform symposium held in New York by SFIG and Information Management Network.

Wells Fargo estimates that a settlement could cost the bank at least $950 million.

We should point out that even though LoanDepot is doing the buying, the Mortgage Master brand name will survive. LD did the same thing when it combined forces with imortgage last year…

Although residential lenders are coming off a better than expected production quarter – and enjoying a decent last three months of the year – analysts and investors seem undecided on whether there’s opportunity in the market or it’s time to stay on the sidelines. Several high profile publicly traded shops that are considered “high touch” specialists – Nationstar Mortgage, Ocwen Financial and Walter Investment – continue to trade at steep discounts to their 52-week highs with all three facing possible class-action lawsuits from angry investors who’ve seen billions of dollars in stock equity evaporate over the past year. And then there’s...

One key point that much of the mortgage lending industry is contesting in the Consumer Financial Protection Bureau’s proposed amendments to its integrated disclosure final rule is the timing requirement for re-disclosing the loan estimate. The proposal would amend a final rule to integrate disclosures required by the Truth in Lending Act and the Real Estate Settlement Procedures Act that itself won’t be implemented until August 2015. The CFPB tried to make the so-called TRID more workable by giving lenders more time to revise loan estimate disclosures. Revisions based only on changes in rates would have to be made by the next business day after the rate locks, instead of on the same day, which is the current requirement. A number of lender representatives told...

Used in conjunction with the industry’s RMBS 3.0 project, such a mechanism could help clear away the rubble from the market’s collapse...

Some publicly traded nonbanks are facing possible class-action lawsuits from angry investors who’ve seen billions of dollars in stock equity evaporate over the past year.