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MBA’s Latest Forecast Calls for $1.32 Trillion of Originations in 2016

October 20, 2015
Paul Muolo
The reason for the forecast hike? Answer: a strong job market and more supply coming on the market.
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Short Takes: MBA Chief Advocates for a Future that Includes Fannie and Freddie / One GSE ‘Sin’ Revealed / A ‘Brain Drain’ at Fannie? / Coming Soon: Conforming Limits from the FHFA / Arch Rolls Out Risk-Based Pricing

October 20, 2015
Carisa Chappell and Paul Muolo
One of Fannie’s and Freddie’s reputed “sins” was donating large sums of money to politicians who, in turn, ran interference for them on Capitol Hill...
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Final HMDA Tally: Jumbo Purchases Topped Refis

October 20, 2015
Brandon Ivey
Jumbos accounted for 18.1 percent of total production in 2014, up from a 14.6 percent share the previous year.
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Complaints About Mortgages Fall Everywhere – Except Applications

October 19, 2015
Consumer complaints to the CFPB about mortgages filed during the third quarter fell in most of the significant categories tracked by Inside the CFPB – with issues about the application and origination process being the one notable exception. Gripes in this regard rose 4.1 percent from the second quarter to the third, and increased a larger 12.6 percent at the nine-month mark versus a year ago, our latest analysis found. But at just 1,644 complaints, the number of homebuyer criticisms in this regard pales when compared to the huge number of mortgage applications and originations made during the same period. It is also important to note the seasonality associated with complaints in this area, as they tend to be highest during ...
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FHFA Chief Mel Watt: Final Rule on FHLB Membership (Captives) Could Happen by Yearend

October 19, 2015
Paul Muolo
A lawyer by trade, Watt noted: “Unfortunately, legal constraints prevent me from saying much about this because we are in the period between the end of the comment period and the time we issue the final rule.”
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Megabanks Hemorrhaging Huge Market Share Losses in Ginnie Mae Issuance

October 19, 2015
John Bancroft and George Brooks
The performance comes at a time when the agency increasingly seems concerned about the capital cushion of certain fast-growing nonbanks.
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Freddie Mac will Modify Low Downpayment Mortgage in New Partnership with Quicken

October 19, 2015
Paul Muolo
The announcement by Freddie Mac might be viewed as a sign that the GSEs are competing once again.
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Fannie Also Liberalizes its Mortgage Guidelines, Will Consider Nontraditional Credit

October 19, 2015
Carisa Chappell
Beginning next year, Fannie will require seller/servicers to use trending credit data when underwriting single-family borrows through DU.
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Short Takes: Not Ready for TRID? Don’t Worry About It / Nonbank Nonprime Lender Joins an FHLB, Using Captive Insurer / loanDepot Hires Ex-Fannie Tech Executive / CFPB Warns on ‘Free Pass’ Language / NMI Official Joins Lender Live

October 19, 2015
Brandon Ivey and Paul Muolo
It's not everyday that a nonbank, nonprime lender gains access to the Federal Home Loan Bank system...
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Non-Agency MBS Issuance Slowed Significantly in 3Q; Is There Hope for Jumbos?

October 16, 2015
John Bancroft
With a strong fourth quarter, jumbo MBS issuance in 2015 could nudge past the post-crisis high set back in 2013, when $13.12 billion of these deals came to market.
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