Although purchase-mortgage lending is expected to pick up considerably in the second and third quarters, the refi market isn’t dead yet.

At the KBW show, MI firms also dismissed the notion of consolidation in the sector, calling it unlikely.

Refinance lending gained strength in the first quarter of 2016 and surpassed origination of purchase-money mortgages, according to a new Inside Mortgage Finance ranking and analysis. Mortgage lenders originated an estimated $195 billion of refinance loans in the first three months of this year, an 11.4 percent increase over the fourth quarter. With purchase-mortgage production slumping by 11.9 percent to $185 billion, the refi market accounted for 51.3 percent of total originations for the first quarter. Although purchase-mortgage lending is expected to pick up considerably in the second and third quarters, the refi market isn’t...[Includes three data tables]

A dispute over rule interpretation between the Department of Housing and Urban Development and its inspector general regarding the use of gift funds and premium pricing in downpayment assistance has FHA lenders concerned about potential liability and unnecessary legal costs. Last week, HUD Deputy Secretary/FHA Commissioner Edward Golding sought to allay lender concerns by refuting the IG’s position on lender use of downpayment assistance programs sponsored by state housing finance agencies. In a memo to the industry, Golding upheld...

Two of the deals offer a range of $50 million to $100 million per month in GSE servicing rights and have a bid deadline of early next week.

The seller was described as an “independent mortgage banker with a tremendously experienced senior management team and strong net worth.”

Are "fintech" firms spending enough money on mortgage compliance?

The lender allegedly focused on profit and growth at the expense of loan quality and knew about the inefficiencies in 39 of its 125 branches, charges it denies.

The Golding memo signals that HUD and the IG have reached a meeting of minds on the issue.

The House this week approved legislation making it easier for loan officers working for depository institutions to go to work for nonbanks. Separately, the Senate last week approved a $39.2 billion fiscal 2017 funding bill for the Department of Housing and Urban Development. By a unanimous voice vote, House lawmakers approved H.R. 2121, the SAFE Transitional Licensing Act. The legislation provides for a 120-day temporary license for registered loan originators who change jobs and makes for an easier transition when moving from a financial institution to a state-licensed nonbank or to another state. Introduced last April by Rep. Steve Stivers, R-OH, the bill would require...