California ranked as the top state for primary mortgage insurance business in the third quarter of 2018, but not by as big a margin as its high housing costs might suggest. [Includes one data chart.]

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.

Use of artificial intelligence seems to be concentrated at nonbanks…

On a year-to-date basis, the volume of private MI loans delivered into GSE MBS was up 9.8 percent from the first nine months of 2017…

Habib told IMFnews that if yield on the benchmark breaks 3.25 percent it could quickly shoot up to 3.63 percent…

Artificial intelligence and machine learning technology are currently being used by 26 percent of lenders surveyed by Fannie Mae. The government-sponsored enterprise also found that the share of lenders using such technology could hit 60 percent within two years.

Stephanie Miller of Fannie Mae said the GSEs are working with SIFMA on the transition to the single security.

The SVP/national production manager slot is a new position at Flagstar…

Despite the good news, DBRS said if the economic environment becomes more distressed, some non-QM borrowers may come under pressure…