Fannie Mae, Freddie Mac and Ginnie Mae are relying more heavily on special rules that grant most of their single-family business qualified-mortgage status even if the debt-to-income ratio of the loan exceeds 43 percent. [Includes two data charts.]
Ditech Financial, the nation’s 12th largest servicer of home mortgages, is officially on the auction block and it comes at a time when several nonbanks are heading for the exit ramp. Now, the big question: Can Ditech be sold in a stock transaction or will it be an asset sale?
The faster processing times by so-called fintech lenders don’t result in riskier loans than production from traditional originators, according to an analysis published by the Federal Reserve Bank of New York.
With loan production on a downward trajectory this year, rumors abound regarding industry layoffs, but at least one top-ranked lender is still actively hiring: United Wholesale Mortgage, Troy, MI.
A significant number of lenders report that they don’t have a comprehensive vendor management system in place, according to a survey by Vendorly, a firm that provides vendor-oversight services.
A spike in non-agency mortgage-backed security issuance has helped make 2018 the strongest year for securitizations in this niche market since the financial crisis, but the sector still has a long way to go, according to Grant Bailey, a top analyst at Fitch Ratings.
In July 2017, the vendor named Rob Clements chairman and CEO and John Surface president and chief operating officer. Both came over from EverBank Financial…
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