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GSE Roundup

July 6, 2018
Fannie Mae announced late last week it would provide a $26 million low-income housing tax credit equity investment to facilitate the construction of Far Rockaway Village, a 457-unit residential development in Queens, New York. Fannie will back the project through The Richman Group Affordable Housing Corporation, a Fannie LIHTC fund partner. ...
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Despite Higher Rates, ARMs Slow to Catch On

July 5, 2018
Brandon Ivey
The top six ARM lenders are all commercial banks, led by Bank of America…
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MBA: Mortgage Applications Post a Slight Decline

July 5, 2018
Paul Muolo
Brace yourself, new mortgage employment figures will be released Friday morning…
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Fannie Mae Servicer Seterus the Foreclosure King of California?

July 5, 2018
Paul Muolo
Seterus is owned by IBM, but the vendor doesn’t even mention the ownership link to ‘Big Blue’ in the “About Us” section of its website…
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DBRS Tops in Rating Non-Agency MBS

July 5, 2018
John Bancroft
Kroll Bond Rating Service moved up from fourth place in 2017 to start this year in second…
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A Big Decline for Interest-Only Originations

July 3, 2018
Brandon Ivey
Among all IO originators, First Republic Bank ranked first with $1.54 billion…
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Short Takes: An MSR-Only Sale for Ditech? / Layoffs at The Money Source / Fannie and Freddie Trim Subprime Holdings / A Capital Raise for Redwood / New Rez Closes on Shellpoint Deal

July 3, 2018
Brandon Ivey and Paul Muolo
TMS called it a “realignment,” explaining the cuts are part of a plan to “fuel fintech growth.”
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Banks Boost First-Lien Holdings in 1Q18 but a Slight Drop at Wells Fargo

July 2, 2018
Brandon Ivey
The three largest holders of first-liens are Wells Fargo, JPMorgan Chase and Bank of America…
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Ten Years After the Housing Crisis, Wells Still No. 1 in Mortgages. However…

July 2, 2018
Paul Muolo
But the most telling sign of how the banking industry has lost its grip on home lending rests in the number of depositories that rank among the top 20…
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Rising Rates Take a Bite out of FHA Lending

July 2, 2018
George Brooks
Fairway Independent Mortgage ranked first among all FHA purchase lenders with $880.8 million in 1Q18...
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