The fastest-growing sectors of the mortgage market during the second quarter of 2015 were jumbo loans and government-insured production, according to a new Inside Mortgage Finance ranking and analysis. The conventional-conforming segment remains the biggest piece of the mortgage market, accounting for 52.8 percent of originations during the second quarter. Back in early 2013, when refinance activity accounted for three of every four new home loans, the conventional-conforming share was 68.1 percent. Lenders generated...[Includes two data charts]
Two Harbors is starting to offer “expanded credit” mortgages via its conduit, including allowing for lower credit scores and higher loan-to-value ratios.
Company CEO Dan Perl said the privately held nonbank has been receiving several applications for loan amounts ranging from $2.1 million to $2.7 million...
According to one published report, Gov. Andrew Cuomo is considering John Coffey as the next superintendent for New York Department of Financial Services.
Heavy refinance activity in the first half of 2015 caused a significant shift in the kinds of single-family MBS produced by Fannie Mae, Freddie Mac and Ginnie Mae. Issuance of MBS backed by adjustable-rate mortgages has dropped sharply in 2015, and ARMs haven’t had much of a presence for years. ARM MBS production by Fannie and Freddie in the first half of 2015 was down 20.1 percent from a year ago. The drop in Ginnie ARM securitization was less severe, 18.3 percent, but ARMs accounted for an even smaller share of overall production (1.7 percent) at Ginnie than the 2.9 percent share they had in government-sponsored enterprise MBS. Oddly, the heavy refinance market in the first half of 2015 did not appear...[Includes two data tables]
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