The credit characteristics of FHA loans pooled in Ginnie Mae mortgage-backed securities have gotten significantly riskier since the beginning of 2017, according to a new Inside Mortgage Trends analysis of Ginnie MBS data.
With single-family originations expected to decline in the next few quarters, most mortgage firms are keeping a close eye on costs, hiring only if they need to.
Home affordability varies geographically and over time due to unique economic drivers, such as home prices, income and wealth, according to a staff working paper published by the Federal Housing Finance Agency.
Norcom Mortgage has completed its end-to-end electronic mortgage platform with the adoption of vendor e-closing technology, making it the first mortgage lender in Connecticut to offer fully digitized closings.
California ranked as the top state for primary mortgage insurance business in the third quarter of 2018, but not by as big a margin as its high housing costs might suggest. [Includes one data chart.]
The Mortgage Industry Standards Maintenance Organization is launching an effort to standardize the loan-grading systems used by due diligence firms in the non-agency MBS market.
JPM and Wells do not use loan brokers, avoiding the wholesale channel. Both have large warehouse lending programs and acquire mortgages from the nonbanks they also finance.
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