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.
Mortgages originated by correspondent lenders and sold to aggregators accounted for a larger share of agency business in the third quarter, according to a new Inside Mortgage Trends analysis of mortgage-backed securities disclosures. [Includes two data charts.]
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.