PHH Mortgage remained the predominant IO lender with $3.43 billion during 3Q15, but the firm’s volume fell 16.9 percent on a sequential basis.

Jordan lends in roughly 45 states and its loans have an average life of about eight months. The nonbank extends credit at rates of 10 to 12 percent.

Nine firms issued jumbo MBS in 2015 and JPMorgan Chase was the top issuer for the second year in a row.

As IMFnews went to press, Stonegate Mortgage was suffering the most among real estate finance-related stocks, down 7.16 percent on the day.

Commercial banks continue to avoid the reverse mortgage market like the plague.

The government-sponsored enterprises’ risk-sharing transactions more adequately address incentive problems than non-agency mortgage-backed securities, according to a recent report by the Office of Financial Research. The OFR said back-end risk-sharing transactions from Fannie Mae and Freddie Mac “indicate how private housing finance remains crippled.” The OFR is an independent office within the U.S. Treasury Department, focusing on financial stability issues. The GSEs sold ...

The omnibus appropriations bill President Obama signed in December included a provision that supporters suggest will help spur reform of the government-sponsored enterprises. The bill prohibits the Treasury Department from selling its senior preferred shares in Fannie Mae and Freddie Mac until at least the start of 2018. “Passage of this provision makes it clear that Congress – which created mortgage giants Fannie Mae and Freddie Mac in the first place – should ... [Includes three briefs]

Over the past year, the share price of GSE common has tanked, at least on a percentage basis.

Now that the Consumer Financial Protection Bureau has issued a “clarifying” letter on TRID errors, all is well, right? Not necessarily...

Investors should see a higher share of VA collateral in Ginnie Mae mortgage-backed securities pools due to increasing VA loan originations, according to Deutsche Bank analysts. Given their rising share of VA collateral, new Ginnie pools are likely to have worse convexity than most of those originated in 2015, analysts said. “VA loans tend to prepay faster than FHA loans when in the money as VA loans have larger loan sizes, higher FICO scores and a more efficient streamline refi program that requires a minimum three months seasoning,” they observed. In addition, analysts expect the population of younger veterans to surge approximately 36 percent over the next five years. “[As such], there will be a healthy supply of new VA originations eligible for pooling,” they said. As a result, the share of FHA relative to VA collateral in new Ginnie II pools will likely decrease, they said. Such a trend has manifested itself slowly as ...