Short Takes: Ginnie to New Issuers: Use it Or Lose It / Suddenly, Wholesalers Everywhere / Fannie Doesn’t Like B&Bs / Motor City No. 3 for HARP Outreach / Ex-JPM Executive Gets Key Job at FHFA September 24, 2014 Paul Muolo and Charles Wisniowski Hell hath no fury like an agency whose new issuers are not actually issuing (MBS)...Read More
FHFA Suggests Leaving Adjustments of G-Fees and Loan Limits to Congress September 23, 2014 Brandon Ivey FHFA's Bob Ryan said the GSE regulator has concerns that decreasing loan limits or increasing g-fees would limit access to credit. Read More
Why the Mortgage ‘Credit Box’ is So Small September 23, 2014 Thomas Ressler Originators are constantly looking over their shoulders because loans are being re-underwritten two or three times, once by the aggregator, once by the GSEs...Read More
After Comstock Acquisition, Guild Wants to Buy More Lenders; An Eventual IPO? September 23, 2014 Paul Muolo As the mortgage M&A market chugs along in the coming year, Guild hopes to be a buyer.Read More
Ginnie Mae Promises Net Worth Rules for All by MBA Annual September 23, 2014 Paul Muolo Soon it will be easier to use Ginnie Mae mortgage servicing rights as collateral, or so the agency hopes.Read More
Good News for Mortgage Lenders: Fewer Cash Buyers in the Market September 23, 2014 Brandon Ivey Elevated home prices and a smaller supply of distressed properties have prompted many investors to switch from buying to selling.Read More
Short Takes: Mortgage Industry Shrinks but Not by Much / Can It Be? Final Risk Retention Rules? / Treasury’s Experiment in Non-Agency MBS / October Non-QM Launch for Ethos / JPM Removed From Virginia Lawsuit September 23, 2014 Brandon Ivey, Paul Muolo, and Charles Wisniowski It appears that Ethos Lending will enter the non-QM market come October...Read More
Mortgage Brokers Originate Slightly Riskier Loans, At Least on Agency Products September 23, 2014 John Bancroft Broker originations also had a significantly larger average loan amount, $230,082, than the other channels. Read More
Center-Right Groups Want Transparency From Treasury on GSE Profit Sweep September 22, 2014 Charles Wisniowski In the last quarter, for instance, Fannie and Freddie posted combined net earnings of $5.1 billion – most of which was swept into a Treasury account.Read More
Secondary Market Sales of Mortgages Rebounded in 2Q but Down Considerably From Last Year September 22, 2014 John Bancroft On a year-to-date basis, mortgage sales were down 63.6 percent from the first half of 2013.Read More