Mortgage lenders reported $1.762 trillion in new purchase-money and refinance originations during 2013 under the Home Mortgage Disclosure Act, according to a new Inside Mortgage Finance analysis of the data released by federal agencies this week. HMDA purchase and refinance originations were down 12.4 percent from 2012, with the biggest decline in refi activity, off 26.2 percent. Purchase-mortgage lending was up in both the government-insured market (up 1.3 percent) and conventional originations (up 32.5 percent). Even with the sharp downturn in business, refinance originations accounted...[Includes one data chart]

Just how large is the non-QM market? That’s hard to say...

Hell hath no fury like an agency whose new issuers are not actually issuing (MBS)...

Soon it will be easier to use Ginnie Mae mortgage servicing rights as collateral, or so the agency hopes.

Broker originations also had a significantly larger average loan amount, $230,082, than the other channels.

Tozer believes that with depositories in control of the Ginnie market, the regulation of lender/servicers has essentially been outsourced to banking regulators who have “vast experience” in safety and soundness.

Why short Altisource? This source reasons that as real estate values continue to improve and foreclosures slow, Altisource will have less to do going forward...

Although "legacy" MSR sales are in the tank, newer servicing rights continue to hit the market.

The biggest chunk of purchase business for the GSEs were loans ranging from $200,000 to $300,000, which accounted for 29.4 percent of their business.

Current and former commissioners of the FHA this week said the venerable program could carry out its mission more effectively if it was an independent, self-funded government enterprise. During this week’s Housing Summit hosted by the Bipartisan Policy Center, the five FHA commissioners – incumbent Carol Galante and alumni Brian Montgomery, Nicolas Retsinas, David Stevens and John Weicher – concurred that working with Congress, particularly on budget issues, has made it more difficult for the agency to operate safely and soundly. “We’re...