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House Power Shift May Have Little Impact on GSE Reform While Dampening Reg Relief

November 16, 2018
Yemeng Yang
In a recent eight-page memo outlining her priorities, Rep. Maxine Waters did not address the conservatorships of Fannie Mae and Freddie Mac…
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After Cutting 400 Mortgage Workers in June, Wells Fargo Plans to Cut 900 More

November 16, 2018
Paul Muolo
Back in June, Wells trimmed 400 mortgage jobs, including 63 mortgage workers in Frederick, MD.
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What We’re Hearing: GNMA’s Michael Bright is Taking No Chances / Ginnie Servicing is Now Worth… / Bright and the FHFA Job / The Bigger You Are… / 47 Percent of Lenders Eyeing the Non-QM Market? / Radian Gets a New Controller

November 16, 2018
Paul Muolo
A new poll being conducted by Inside Mortgage Finance/IMFnews shows that 47 percent of lenders are contemplating originating non-QM mortgages in 2019...
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GSEs Letting Nonprime Holdings Taper Off

November 16, 2018
Fannie Mae and Freddie Mac continue to let their holdings of nonprime mortgages gradually taper off, according to a new analysis by Inside Nonconforming Markets. The government-sponsored enterprises held a total of $91.01 billion of nonprime mortgages at the end of September, largely in purchased/guaranteed loans originated before the financial crisis. The holdings were down by 21.2 percent on an annual basis. In the past year, Fannie has ... [Includes one data chart]
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Private MIs Gobble Up More Market Share in 3Q18 Despite Growth in FHA Sector

November 15, 2018
John Bancroft
Arch Mortgage Insurance led the pack in terms of new insurance written in 3Q18 with $21.43 billion, followed by Radian Guaranty ($15.78 billion), and MGIC ($14.57 billion).
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More Red Ink for Ditech in 3Q and Another Potential Trip into Bankruptcy

November 15, 2018
Paul Muolo
Ditech said the company is in talks with “certain” corporate debt holders regarding another possible "court supervised" Chapter 11 process...
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Very Good News: MMIF Capital Ratio Improves to 2.76 Percent. As for a Cut in Premiums…

November 15, 2018
George Brooks and Paul Muolo
The fund's value has improved, but FHA premiums will not be cut...
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Short Takes: Who is Andrew Olmem and Why Does He Matter? (GSE Reform) / A Production Gain for Ditech / Citywide Home Loans Signs Partnership Deal with Stearns / Caliber Readies Nonprime MBS

November 15, 2018
Brandon Ivey and Paul Muolo
If you haven’t heard of Andrew Olmem before, it’s because he tends to keep a low profile.
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House Power Shift May Have Little Impact on GSE Reform and Dampen Regulatory Relief Prospects

November 15, 2018
Midterm election results will likely push any housing-finance reform legislation further away, slow deregulatory efforts by Trump appointees, and dash any chances of another regulatory relief bill, according to analyses of the results.
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After Cutting 400 Mortgage Workers in June, Wells Fargo Plans to Cut 900 More

November 15, 2018
Paul Muolo
The megabank currently employs 27,000 mortgage-related workers or what it calls “team members.”
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