First Republic Bank is one of the few bank originators of non-agency jumbo mortgages that has sold a significant share of its production in the secondary market in the past year. Officials at the bank said the sales have been driven by borrowers preference for 30-year fixed-rate mortgages and investor demand in the non-agency market, both of which have changed recently. In the first quarter of 2013, First Republic originated $2.32 billion of mortgages, including $1.85 billion in non-agency jumbo mortgages ...
Ocwen will have plenty of "high touch" loans to work on when it finally takes control of the OneWest portfolio. Meanwhile, the second lien market is heating up.
Mortgage production volume remained fairly steady in the second quarter as a growing purchase-mortgage market helped offset a weakening in refinance lending, according to a new ranking and analysis by Inside Mortgage Finance. Mortgage lenders originated an estimated $495.0 billion of home loans during the second quarter of 2013, down just 1.0 percent from the first three months of the year. That pushed year-to-date production volume to just shy of $1 trillion, and put the market 14.4 percent ahead of the pace set during the first six months of 2012. It figures...[Includes two data charts]
During the debate, Committee chairman Jeb Hensarling accused Democrats of protecting the status quo by defending the current Fannie and Freddie dominated regime.