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Inside Mortgage Trends
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Housing Industry Groups No Longer United in Stance on Value of Mortgage Interest Deduction

October 19, 2017
The mortgage interest deduction, or MID, used to rank with apple pie and motherhood for real estate agents, mortgage lenders and homebuilders. But against the backdrop of an intense effort by Republicans to overhaul the tax code, some groups are showing more flexibility on the issue. Complicating matters is that neither the Trump administration nor key players on Capitol Hill have been explicit or consistent in what they want. The Mortgage Bankers Association wrote to the ...
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Radian Discloses More Pain from Services Unit (Clayton); Tennyson is Out as President

October 18, 2017
Paul Muolo
The MI also terminated Jeff Tennyson as president of the unit. No replacement will be named, a spokeswoman told IMFnews.
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U.S. Bancorp Grows Residential Production by Almost 10 Percent

October 18, 2017
Paul Muolo
Compared to the same period a year ago, residential loan production declined by 19.6 percent...
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Short Takes: The Little Guy Gets a G-Fee Break / A Coming Spike in G-Fees? / More Financial Maneuvers by Radian / A Hot Streak for Non-Agency Prime MBS / A Stock Market Crash Warning from Treasury Secretary Mnuchin

October 18, 2017
Brandon Ivey and Paul Muolo
Might this suggest that g-fees charges could spike next year when zero hour comes?
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Ranked No. 442 as an Originator, Fintech Firm Corrals $457 Million in Financial Commitments

October 17, 2017
Paul Muolo
Formed in 2014, LH originated $598 million in 2016, ranking 442nd overall, according to Home Mortgage Disclosure Act figures compiled by Inside Mortgage Finance.
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Promontory MortgagePath Expands Private-Label Origination Platform

October 17, 2017
Paul Muolo
PMP was founded by former Comptroller of the Currency Eugene Ludwig and mortgage industry veteran Bruce Witherell…
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Short Takes: More Trouble for SoFi & Fintech? / So, Maybe CFPB’s Cordray Won’t Run / Goldman Agrees to Buy Fix-and-Flip Lender / Housing Assistance Council Hires former HUD, USDA Official to Lead the Organization

October 17, 2017
Paul Muolo
With fall-out spreading from the turmoil at Social Finance, investors might be thinking twice about so-called “fintech” firms...
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Redwood Aims for Jumbos Outside of Banks’ Focus

October 17, 2017
Brandon Ivey
Redwood’s Choice loan program allows for debt-to-income ratios of up to 49.9 percent while the limit for Select is 43.0 percent…
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Institutional Investors Reduce Positions in PHH. Meaning?

October 17, 2017
Paul Muolo
The disclosures aren’t entirely surprising given that PHH recently wrapped up a generous buyback offer…
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Short Takes: Large Nonbank Ready to Enter Second-Lien Market / Mortgage Layoffs in California? / The 30th Anniversary of ‘Black Monday.’ Beware? / UWM Rolls out ‘Client Loyalty’ Tool for Brokers / Annaly CEO will Become Chairman, Eventually

October 16, 2017
Paul Muolo
A large nonbank is about to enter the second-lien market...
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