FHFA Director Mark Calabria plans to take steps to help non-agency market players better compete with the government-sponsored enterprises. However, lowering conforming loan limits isn’t part of the plan.
Expanded-credit mortgage originations declined for the second consecutive quarter at the end of March. Demand from borrowers was down but lenders remain optimistic about the sector.
Originations of non-agency jumbo mortgages declined by 1.5% in the first quarter though the sector gained some market share as total first-lien originations fell by an even greater amount.
Redwood Trust's margins on residential mortgage activity increased in the first quarter due to strong demand in the secondary market for expanded-credit mortgages. Officials are also optimistic about how the FHFA could help private capital take share from the GSEs.
Florida is enacting new standards for business-purpose mortgages due to concerns that lenders were misclassifying such originations in an attempt to avoid regulations.
360 mortgage plans to originate $1 billion of mortgages that don’t require verification of a borrower’s income or assets. The pilot program is limited to non-owner-occupied investment properties, which aren’t subject to ATR requirements.
Banks and thrifts increased their holdings of first-lien residential mortgages in 2018, according to a new analysis by Inside Nonconforming Markets. [Includes one data chart.]
Lenders originating fix-and-flip loans and mortgages for single-family investment properties are seeing strong demand from investors in the secondary market.
Lower GSE loan limit not a priority for SFIG; whole loans present alternative to non-agency MBS for investors; jumbo MBS issuance may wane with home price appreciation...
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