Mortgage lenders will benefit from a reduced risk of loan repurchase owing to the easing of borrower performance standards mandated earlier this month by the Federal Housing Finance Agency, according to a report from Fitch Ratings. Fannie Mae and Freddie Mac, at the direction of their conservator, announced a narrow adjustment in how loans with minor payment problems can still qualify for buyback relief if they are current 36 months after origination. The new framework also provides buyback protection for mortgages that come clean in the GSEs’ quality control checks and an alternative to automatic repurchase of loans when private mortgage insurance is canceled.

Industry trade groups are calling on the Federal Housing Finance Agency and the Consumer Financial Protection Bureau to be more transparent about how they plan to use the information the agencies want to collect to build the National Mortgage Database. Earlier this year, the FHFA announced it will begin to collect additional, more specific and personal information on borrowers and loans as part of the National Mortgage Database project the agency launched with the CFPB in 2012. An FHFA announcement in the Federal Register noted that under a “revised system of records,” the database will begin collecting demographic and personal contact info for borrowers and their households, as well as loan-level data on mortgage performance.

An East Coast-based warehouse executive, requesting anonymity, said he has approached his credit board about such a change, and his waiting to hear back from them.

Only about 27.7 percent of Ginnie Mae first-quarter volume were refinance loans, and the refi share of the overall market fell to an estimated 44.3 percent, Inside Mortgage Finance found.

Banks that extend warehouse lines of credit to nonbank originators saw their commitment levels fall 39 percent in the first quarter compared to the same period a year earlier, yet another sign that the origination market was extremely weak during the first three months of 2014. On a sequential basis, commitments dropped a more benign 10.8 percent, but it’s not unusual for some firms to keep a line open, even if they’re not utilizing their power to borrow. According to Inside Mortgage Finance estimates, banks and nonbanks had $27.0 billion in warehouse commitments on their books as of March 31, compared to $31.0 billion on December 31, and $45.0 billion a year ago. One active warehouse bank had...[Includes one data chart]

Former employees of the firm told IMFnews that they are perplexed as to why the company’s owners did not file a bankruptcy filing in federal court.

Ocwen Financial, once again, ranked first among all subprime servicers with a portfolio balance of $105.78 billion at March 31, a decline of 31.7 percent over the past 12 months.

Investors interviewed by IMFnews weren’t sure what to think of the latest news from Ellie Mae.

The price quotes can vary greatly depending on the size of the company being targeted, especially if there’s a servicing portfolio and platform that needs to be looked at.

“In recent client meetings, Stratmor heard that lender fees are now being included in the rate sheet price,” Yung said. Indications are that the 3 percent cap is causing lenders to fold the lender fees into the rate – specifically on the retail side.