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Agency MSR Market Grew Modestly in 3Q18 as Nonbanks Continued Their March Forward

October 18, 2018
John Bancroft
Fun fact: Nonbanks went over the 60.0 percent threshold in Ginnie Mae market share during the third quarter.
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Ginnie Mae Terminates 360 Mortgage Group from Program

October 17, 2018
Paul Muolo
As IMFnews went to press, multiple telephone messages and emails to 360 Mortgage had not been returned.
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FHA Market Grows Riskier in 2018

October 16, 2018
John Bancroft
FHA debt-to-income ratios are also deteriorating…
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Incenter, Phoenix Capital Out with New MSR Auction Notices

October 14, 2018
Paul Muolo
IMA described the selling originator as an “independent mortgage banker with strong net worth...
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Correspondent Platforms Gain Share in 3Q18 Agency Market

October 12, 2018
John Bancroft
The correspondent share of the market rose to 39.5 percent, the highest it has been in years...
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Enactment of Dodd-Frank Reform Bill Prompts VA to Dump QM Interim Final Rule for New QM Rulemaking

October 11, 2018
The Department of Veterans Affairs has spiked an interim final rule on “qualified mortgages” in favor of a new separate rule establishing new QM standards.
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Short Takes: Michael Bright, the Next FHFA Director? / Waiting on Senate Confirmation (Still) / A Former GSE Exec and The Play Set Scandal / Sears and Fairholme / HSBC Settles with DOJ / A New Hire at CMG Financial

October 10, 2018
Paul Muolo and Brandon Ivey
HSBC will pay $765 million to settle charges brought by the Department of Justice...
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Senate Still has Time to Enact VA ‘Orphan’ Loan Bill

October 9, 2018
George Brooks
The House bill is currently at the Senate desk, awaiting nods from Senate Banking Committee Chairman Mike Crapo, and Ranking Minority Member Sherrod Brown…
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Ginnie MBS Production Down 11 Percent Through Sept. 30

October 8, 2018
John Bancroft
Issuers pooled $19.63 billion of FHA and VA refi loans during the third quarter, down 11.6 percent from the previous period…
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Short Takes: Waiting on a Client / Layoffs at Eli Global? / Bonuses: Based on Volume or Profits? / New Penn Rolls Out New Non-QM Loan / NewDay Hires a Former Governor

October 8, 2018
Paul Muolo and Brandon Ivey
One source familiar with Eli Global’s mortgage operations said layoffs have occurred at the company’s mortgage unit...
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