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Inside Mortgage Trends
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GSE Reps-and-Warrant Relief Made Big Strides In 2016, Freddie to Offer Appraisal Waiver Next

April 6, 2017
Freddie Mac is set to implement a waiver aimed at reducing lender anxiety about potential buybacks related to appraisal issues, matching a similar policy already implemented by Fannie Mae. The initiatives by the two government-sponsored enterprises are aimed at one of the last major bugaboos in the representations and warranties lenders take on when they sell loans. Lender repurchases have declined dramatically over the past few years as Fannie and Freddie cleaned up buyback disputes related to loans originated before the housing market collapse. In 2016, lender repurchases and other indemnifications fell...
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Godot Finally Arrives: The Federal Reserve Plans to Shrink Its Huge Portfolio Once…

April 6, 2017
Thomas Ressler
The Fed owns roughly $1.7 trillion worth of agency MBS. But don’t expect any wholesale dumping to take place…
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Short Takes: Mortgage Interest Deduction Could be Neutered / Trump Getting Close on Pam Patenaude for HUD Deputy Post / DocMagic Posts Strong Growth / Chimera Busy with Seasoned MBS / Fannie Mae Official Leaves for Due Diligence Firm

April 5, 2017
Paul Muolo and Brandon Ivey
It appears the Trump White House is once again seriously considering Pam Patenaude to be the deputy HUD secretary...
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Flagstar Will Acquire ‘Certain’ Assets of $3-Billion-a-Year Lender Opes

April 4, 2017
Paul Muolo
With the purchase of Opes, Flagstar likely will move up two spots in the origination rankings to number 12, according to Inside Mortgage Finance.
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Origination of IO Mortgages Spiked by Almost 37 Percent in 2016

April 4, 2017
Brandon Ivey
PHH Mortgage, which is restructuring its operations, was the top ranked interest-only lender in 2016…
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Fast-Growing Nonprime Lender Angel Oak Adds Four Executives, Aims to Double Sales Force

April 4, 2017
Paul Muolo
Angel Oak employs 52 wholesale account executives and hopes to add three to four additional ones a month.
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Short Takes: Skyline Posts Strong Purchase Lending Numbers / Banks and CUs Pony Up to the IO Bar / Flagstar’s New Wealth Advisory Business / Thanks to AVMs and Google Earth, All Appraisers May be Toast / Frommeyer Leaves NAMB

April 4, 2017
Paul Muolo
A former Utah appraiser said she lost her job to AVMs and now drives a bus for $40,000 a year...
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Prime Non-Agency MBS Bounces Back in 1Q17

April 3, 2017
Brandon Ivey
Just two firms – Redwood Trust and JPMorgan Chase – continued to dominate jumbo issuance in the first quarter…
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And the Biggest Foreign Investor in U.S. MBS/ABS is: Taiwan (Yes, Taiwan)

March 31, 2017
John Bancroft
China still ranked second in agency MBS investment, but Japan’s larger portfolio of non-agency MBS and ABS boosted it to second place overall.
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Walter Investment’s Chief Legal Officer Jonathan Pedersen Resigns

March 31, 2017
Paul Muolo
No reason was given by Walter Investment for the resignation.
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