CitiMortgage performed the worst on the assessment of non-agency HAMP activity for the second quarter of 2014, with the Treasury claiming that the servicer needs to make substantial improvements.
One question we occasionally hear is this one: If the GOP this fall gains control of the Senate can’t they just push through a GSE reform bill and hope to override a presidential veto, if there is one?
In an environment with limited jumbo originations, the transaction gives Chimera access to a large amount of seasoned residential mortgages that can be securitized into new investments.
Originating unsecured consumer loans can be a risky venture, but LoanDepot says it wants to drive growth. Of course, it doesn't have any public shareholders to answer to.
Production of conventional mortgages – those eligible for sale to Fannie Mae and Freddie Mac as well as jumbo loans – grew at a faster rate than the government-insured market during the second quarter of 2014, according to a new Inside Mortgage Finance analysis. Origination of conventional-conforming mortgages increased by 24.4 percent from the first quarter, climbing to an estimated $153.0 billion. While that continued to account for the biggest chunk of new business – 52.1 percent – the biggest proportional increase in new lending came in the jumbo mortgage sector, where new originations jumped 34.1 percent during the second quarter. Production of government-insured mortgages, including FHA, VA and rural housing loans, increased...[Includes two data charts]
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