Ventana Home Mortgage recently launched mortgage conduit operations based in part on rights that were acquired from WinWater Home Mortgage. The lender said it is focusing on acquiring non-qualified mortgages from correspondent lenders, with plans for issuing non-agency mortgage-backed securities.Ventana is a subsidiary of Window Rock Capital Partners. Neat Capital recently launched its mortgage lending platform, with a focus on ... [Includes six briefs]
Mortgage default rates for FHA and VA loans followed seasonal trends and shifted significantly lower in the first quarter of 2017, according to a new analysis and servicer ranking by Inside FHA/VA Lending. While both portfolios showed strong growth in the dollar volume of loans outstanding in Ginnie Mae mortgage-backed securities, there were also huge declines in the number of loans past due. Some $1.036 trillion of FHA forward mortgages were in Ginnie pools at the end of March, up 1.1 percent from the previous quarter. But delinquency rates for the less-severe categories of late payment were down sharply. The number of FHA loans 30-60 days past due, for example, declined by 28.4 percent, lowering the delinquency rate by 1.51 percentage points, leaving it just about where it was a year ago. The same thing happened in the VA sector. Total VA supply grew 3.2 percent to ... [Charts]
Production of new first-lien home mortgages fizzled in the first quarter of 2017 as the bottom fell out of the refinance market and home sales slumbered, according to a new Inside Mortgage Finance ranking and analysis. An estimated $385.0 billion of new first-lien mortgages were originated in the first three months of the year, a 33.6 percent downturn from the fourth quarter of 2016. It likely did not mark the end of the world, however. For starters, the fourth quarter of last year surprised on the upside – at $580.0 billion, it was the second-highest quarterly volume in the previous four years. And the start of 2017 was...[Includes two data tables]
Investors Unite: “We’re encouraged to see that MBA has changed its position on both of these issues and we also note that in their [sic] paper, MBA acknowledges the role of the Federal Housing Finance Agency … in stabilizing the companies during the conservatorship.”
A total of $13.38 billion of non-agency MBS was issued during the first quarter of 2017, a sharp 67.1 percent jump from the final quarter of last year, a new Inside MBS & ABS analysis and ranking reveals. Although most of the major segments posted solid increases, the scratch-and-dent market was the star of the show. The $8.09 billion of these deals issued in the first three months of the new year represented 60.5 percent of total production and it more than doubled the fourth-quarter total. The top two issuers of non-agency MBS – Chimera Investment and Cerberus Capital – earned...[Includes three data tables]
RSS