Ongoing economic conditions and increasing regulatory scrutiny are creating challenges and opportunities for different players and segments, industry observers say, with the most successful opportunists likely able to snag greater market share while others get gobbled up by larger or stronger rivals. The current market environment of increased regulation is putting significant pressure on the largest banks and has created a growing opportunity for mainstream mortgage bankers ...
The start of fall marked a reversal of trends in the housing market, according to results from the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. In September, investors gained market share from current homeowners and first-time homebuyers, and the distressed property share of home sales increased. The gains in market share were part of a seasonal pattern. And while the trends aren’t necessarily positive for mortgage-industry participants ...
Purchase mortgages accounted for 60.2 percent of originations in 2014, but California remained a hotbed of refinance activity, according to a new Inside Mortgage Trends analysis of Home Mortgage Disclosure Act data for last year. Some 52.8 percent of mortgage originations in the Golden State last year were refi loans, the highest such concentration anywhere in the U.S. House prices and loan amounts are significantly higher in many California markets ... [Includes one data chart]
In a spurt of new activity unveiled at the annual convention of the Mortgage Bankers Association this week, Fannie Mae and Freddie Mac are ramping up the competition between each other, announcing new programs and partnerships and acting as though housing reform is not on the radar anytime soon. And it may not be. While rumors have swirled recently, hinting that the government-sponsored enterprises may be released from conservatorship, White House and Treasury officials confirmed this week that there are no such plans to recapitalize and release the two from government stewardship. “None of us should be misled...
CFPB Director Richard Cordray had his turn next: “Prophets of doom have warned of delays in closings and the need for consumers to buy longer rate locks because of their failure, or perhaps refusal, tounderstand the requirements of the three-day waiting period,” he said.
Some observers believe the CFPB is questioning whether certain LOS vendors are qualified to serve the industry, fearing a potential crackdown on such companies.
Yet, here’s loanDepot, a firm launched just five years ago by industry veteran Anthony Hsieh, filing its S-1 statement with the Securities and Exchange Commission…
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