Capacity constraints and demand for same-servicer refinances helped lenders book significant profits in recent years, according to an analysis published by the Federal Reserve Bank of New York. Lenders’ profits have declined in recent quarters with the shift toward purchase-mortgage originations due to higher interest rates. A group of researchers determined that higher prices paid by investors in agency mortgage-backed securities in recent years weren’t offset by corresponding increases in ...

Independent mortgage bankers saw increased value in their servicing assets that helped offset slumping production volume in the third quarter, according to a quarterly survey by Richey May & Co. The accounting and business advisory firm found that overall production slid 12.4 percent from the second quarter, and refinance volume was down 42.0 percent. The survey also found that average values of indies’ servicing portfolios increased by seven basis points from the second quarter to the third ...

Is the mortgage servicing sales market beginning to slow? Not in the least. Nationstar and Walter are active buyers.

Ellie Mae has annualized revenues of roughly $130 million. The company went public two years ago.

Inside Mortgage Finance is hearing rumblings about a mid-sized nonbank that was contemplating an initial public offering pulling the deal.

Bill Dallas sees NewLeaf table funding a huge amount of mortgages through brokers next year.

The top reasons for FHA condo denials include financial instability, pending litigation, insufficient insurance coverage and outdated or missing documentation.

The Alt A origination estimate is based on the volume of first-lien conventional mortgages with interest rates ranging from 150 basis points over the prime mortgage rate to 300 bps over.

The Department of Housing and Urban Development expects to issue the long-anticipated FHA FY 2013 independent review of the state of the FHA’s Mutual Mortgage Insurance Fund on or before the middle of December. The report’s release was delayed due to the three-week government shutdown in October.

The Department of Housing and Urban Development has issued guidance clarifying FHA lenders’ obligation to report voluntarily instances of fraud, misrepresentation and any other material findings in connection with the origination, underwriting and servicing of FHA-insured loans. Compliance experts say the guidance in Mortgagee Letter 2013-41 is a shot across the industry’s bow – a reminder to lenders about existing FHA policy requiring them to self-report fraud and misrepresentation to the FHA. Upon notification, the FHA works with the lender on any potential mitigation actions. In the inaugural issue of Lender Insight in June, the FHA reported ...