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Impac Reports Large Loss for 2Q18, Blames Cash Call. Is Keen to Grow Non-QM Production

August 9, 2018
Paul Muolo
A spokesman said Impac is now funding $100 million per month in nonprime loans and plans to grow the business further.
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More of the Same from Ditech: A Net Loss, Lower Originations and Liquidity Concerns

August 9, 2018
Paul Muolo
In June, Ditech agreed to sell MSRs to New Penn Financial...
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Private MIs Boost Market Share in 2Q18, Report Post-Crisis Record in Earnings

August 9, 2018
John Bancroft
Arch wrote $19.94 billion of traditional policies in the second quarter, ranking first overall, according to exclusive figures compiled by Inside Mortgage Finance. Radian was second with $16.36 billion…
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Short Takes: Brother, Can You Spare $77.6 Billion? / If Things Get Rough, This is How Much Money I Might Need / Define ‘Severely Adverse’ Scenario / The Wells Fargo Mortgage Layoff Tally for July / Fannie Director Departs

August 8, 2018
Paul Muolo
But the bailout calculations – mandated under the Dodd-Frank Act Stress Tests – were not done by the FHFA.
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Redwood Reports Lower Earnings, but a Rise in Loan Purchases

August 8, 2018
Paul Muolo
At June 30, Redwood held $5.5 billion of residential loans on its books, up 40.6 percent from a year ago.
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Another Record Non-QM Production Quarter for Citadel. 2018 Production Could Top $1.8 Billion

August 8, 2018
Paul Muolo
At the end of July, Citadel serviced $1.75 billion of non-QMs…
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Mortgage Banking Income Fades at Banks

August 8, 2018
John Bancroft
Second-ranked JPMorgan Chase had a similarly disappointing quarter.
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Lobbying on the GSE Issue Moves from Congress to the Executive Branch

August 7, 2018
Paul Muolo
Earlier this year, Treasury Secretary Steven Mnuchin told the Senate Banking Committee he has the authority to restructure Fannie and Freddie without any change in law.
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Nonbank Market Share of Ginnie MSRs: 59.9 Percent and Growing

August 7, 2018
John Bancroft
Wells Fargo’s agency servicing volume dropped by $9.4 billion…
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Short Takes: Moving up the Search? / FHFA Watchdog Under Investigation? / No One is Commenting – or Denying / Politically Motivated? / Mangiaracina Gets Chairman’s Slot

August 6, 2018
Paul Muolo and Carisa Chappell
As of Monday morning, none of the parties involved – FHFA, the FHFA IG, and the Council – were commenting to IMFnews. Nor were they denying the existence of an investigation.
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