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Warehouse Commitments Shrink as Nonbanks Struggle with Originations

December 4, 2018
Paul Muolo
Commitment levels are decent, but nonbanks just aren’t using the lines they’ve been granted.
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With No Chance of Passage, Hensarling’s GSE Reform Bill Gets an Airing on Thursday

December 4, 2018
Paul Muolo
When the measure was first introduced, one housing lobbyist quipped: “This is like someone laying on their death after drinking and sinning and finally realizing they need to get baptized. This is not being introduced for good political reasons.”
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Short Takes: Nomura and Ditech? / Ocwen Sets a New Low / Fannie, Freddie and NPL Sales / Citadel’s Growth in Nonprime Servicing / A New Hire for Mortgage Network

December 4, 2018
Brandon Ivey and Paul Muolo
Fannie Mae and Freddie Mac continue to sell NPLs but for how long?
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VA Prepares to Move Against Abusive Cash-Out Refis, but Details are Light

December 3, 2018
John Bancroft
The VA notice says there are “urgent and compelling circumstances” that warrant issuing an interim final rule that will go into effect quickly.
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Prime Non-agency MBS May Plateau, Nonprime and Expanded Prime Expected to Grow

December 3, 2018
Brandon Ivey
KBRA said nonprime issuance in 2019 should benefit from an increase in origination volume and other efficiencies…
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Freddie Brings Conventional Financing to New Generation of Manufactured Homes

December 3, 2018
Dennis Hollier
Although the manufactured home industry is lobbying for chattel lending, Fannie Mae and Freddie Mac still require real property for collateral.
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Short Takes: The Hearing That Keeps Getting Postponed: GSE Pilot Programs / Remembering the Financial Accomplishments of President George H.W. Bush / Too Many Servicing Workers? / Mortgage Layoffs at SoFi / Vantage Score Hires Former Fannie Executive

December 3, 2018
Paul Muolo
Under the watch of President George H.W. Bush, S&Ls were re-regulated and given a core housing mission.
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Bank ABS Holdings Slide Lower in 3Q18 As Overall Market Continued to Expand

November 30, 2018
Commercial banks and savings institutions added to their holdings of certain categories of non-mortgage ABS during the third quarter, but the industry’s total ABS portfolio was down slightly, according to a new Inside MBS & ABS analysis of call-report data. [Includes three data charts.]
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FHFA Report Shows Little Deviation in Prepayment Speeds for Fannie and Freddie TBA Securities in 3Q18

November 30, 2018
Prepayment speeds for recently issued Fannie Mae and Freddie Mac MBS in the to-be-announced market were closely aligned during the third quarter, according to a new report from the Federal Housing Finance Agency.
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SIFMA Faults Trustee’s Actions in Non-Agency MBS Buyback Case, Warns of Problems if Court Endorses

November 30, 2018
The handling of a lawsuit relating to repurchase activity on pre-crisis non-agency MBS could have a wide-ranging impact on the industry, according to the Securities Industry and Financial Markets Association.
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