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Short Takes: No Relief in Sight for GSE Common / Pershing Square in a World of (GSE) Hurt? / JMP Likes Impac / Consumer Data Collection Returns to the CFPB / Plaza Home Promotes Fontaine

June 12, 2018
Paul Muolo and Yemeng Yang
JMP likes the higher profit margins that accompany non-QM lending…
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Pittsburgh Bank Agrees to Sell its Consumer Finance Unit

June 11, 2018
Paul Muolo
Besides selling RFC, the publicly traded FNB is consolidating 20 of its branches in a cost cutting move.
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So Much Home Equity, But Not Much Lending. Reason: Tight Underwriting

June 8, 2018
Brandon Ivey
Home equity outstanding hit a peak of $13.43 trillion in the first quarter of 2006 then tumbled during the financial crisis...
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What We’re Hearing: Time to Enter the Non-QM Market? / LoanScorecard is Bullish on the Sector / Citadel and AO Keep Humming Along / FTC Wants to Know More About How the RE Brokerage Industry Works / A Bunch of ‘Yes Men’ on the CFPB Advisory Board? / Mulva

June 8, 2018
Paul Muolo
To conservatives in the financial services industry, Mick Mulvaney is a hero.
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Home-Equity Lending Starts the Year on a Flat Note

June 7, 2018
John Bancroft
Bank of America once again ranked first in terms of new HELOC commitments, according to Inside Mortgage Finance…
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Home-Equity Lending Starts New Year on Flat Note, But Lenders Show Willingness to Lend

June 7, 2018
Home-equity lending stumbled in early 2018, although borrower demand and lender interest both seem relatively strong, according to a new Inside Mortgage Finance analysis. [Includes three data charts.]
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Outstanding Home Equity at Record Levels as Use of Cash-Out Refis and Home-Equity Loans is Limited

June 7, 2018
The amount of home equity outstanding hit a record in 2017, surpassing the previous peak seen in the run up to the financial crisis. Economists at the Federal Reserve Bank of New York note that equity extraction by borrowers has been limited by tight underwriting standards.
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Competition for Non-QMs Slowing Ellington’s Plans

June 6, 2018
Brandon Ivey
CEO Laurence Penn said he hopes the flow of non-QM originations will increase…
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Short Takes: Hey, Hands Off of GSE Multifamily / What Ed DeMarco Wanted To Do / Cuts at Stearns? / More Non-QM Lenders Target Self-Employed Borrowers / New Hires at Promontory MortgagePath

June 6, 2018
Brandon Ivey and Paul Muolo
Over the years it seems as though commercial banks have basically ceded the multifamily market to nonbanks that use the GSEs as their secondary market takeout…
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Short Takes: Angel Oak Buys Stake in Commercial MB / Questions Being Asked about Trading in GSE Corporate Bonds / Texas Mortgage Shop Closes? / A New Hire for Pavaso

June 5, 2018
Carisa Chappell and Paul Muolo
Another mortgage company has closed. This one in Texas...
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