New Wholesale Non-QM Lender Altloan Promises to be a ‘Disruptor’ January 2, 2018 Brandon Ivey Looks like Angel Oak, Caliber and Citadel Servicing Corp. are about to get some competition in the non-QM sector…Read More
First California Mortgage Still Operating? January 2, 2018 Paul Muolo FCM is headed by Chris Hart, who is also a member of Fannie Mae’s western region advisory board.Read More
A Gain for Correspondents in Jumbo Market Share December 29, 2017 Brandon Ivey Wells Fargo and JPMorgan Chase are the two dominant lenders in the jumbo market but their channel preferences have diverged over the past year…Read More
MBS Analysis: Looks Like the GSEs are Taking Market Share from FHA December 29, 2017 Carisa Chappell Wells Fargo, Quicken, and United Wholesale Mortgage are the top three firms originating these low-downpayment loans…Read More
Want to Buy Mortgage Servicing Rights? You’d Better Have a License December 29, 2017 Brandon Ivey “If the state requires it, then the GSEs would require it, and could use their remedies in connection with any failure to do so,” said one attorney…Read More
HUD IG Anxious About Legacy Tech Systems; 87 Percent are ‘Old’ December 29, 2017 Paul Muolo What could go wrong? For starts, FHA might not be able to pay claims…Read More
Banks Continue to Add Home Mortgages to Portfolio December 28, 2017 Brandon Ivey JPMorgan Chase continued to boost its first-lien holdings even as it issued a number of relatively large jumbo MBS deals…Read More
Short Takes: The Most Profitable Company in America (Per Employee) is Fannie Mae / What About Ginnie? / Coming in January: A New FHA Commissioner / What’s the Hold Up? Answer: Sen. Warren December 28, 2017 Paul Muolo The ranking was determined by dividing a company’s profit over the last financial year by the number of employees…Read More
Correspondent Channel Gains Market Share in Government-Insured Mortgage Market December 27, 2017 George Brooks Through three quarters this year, retail originations fell 20.2 percent while brokers saw a 10.3 percent production drop and correspondent lending declined by only 1.8 percent.Read More
Competition for Lower Volume of Originations Driving Down Lenders’ Projections for Profit Margins December 27, 2017 Brandon Ivey Some lenders said they’re loosening underwriting standards in in an effort to compete for volume.Read More