With the second quarter in full swing, several advisory firms are actively offering packages, including Interactive Mortgage Advisors, Phoenix Capital and The Prestwick Group.
But not to worry: the FHFA said the projections were mandated under the Dodd-Frank Act, cautioning that its estimate is just that, and not an expected outcome….
Mortgage brokers accounted for almost 13 percent of originations packaged into Fannie Mae and Freddie Mac securities in the first quarter of 2015, one of the highest readings in quite some time, according to loan-level data compiled by Inside Mortgage Finance. In the fourth quarter, the broker market share was 10.0 percent, a figure that includes originations of all loan types and not just ones packaged into securities. Over the past several quarters, there has been...
The new government-sponsored enterprise low-downpayment programs have met a mixed reaction among lenders. While some said they expect to see an uptick in mortgage activity, others noted the product accounts for just a small percentage of their firms’ business and won’t have much of an impact on origination volume. Fannie Mae’s low-downpayment program kicked off in December 2014, and Freddie Mac implemented its program in March 2015. So far, the volume of low-downpayment purchase loans in GSE business is relatively small. Fannie securitized...
Quicken made news earlier in the year when it heavily promoted to loan brokers a 60-hour LPMI “sale” committing coverage for $100 million in originations.
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