The low trading volume is an indication that liquidity is drying up, but it also reflects a decline in new agency MBS being created.

Some 91.8 percent of REIT MBS holdings ($211.95 billion) are in agency securities…

The nonprime residential market is getting more attention as the big product categories hit the skids.

Specifically, HUD wants to know if there are any regulations that should be repealed, replaced or modified.

This fall will mark – unless there’s divine intervention or a Kumbaya moment in Washington – the ninth anniversary of the federal takeover of Fannie and Freddie.

The 14 largest FHA originators were all nonbanks, led by Quicken Loans, Freedom Mortgage and loanDepot.

The VA panel presented several “egregious loan” scenarios involving reviews of several mortgages from 2016 in which lenders were required to sign indemnification agreements.

Montgomery currently serves as vice chairman of The Collingwood Group, a consultancy which he co-founded in 2009.

Nonbank lenders far out-produced depository institutions in originating FHA mortgages during the first quarter of 2017. A new Inside FHA/VA Lending analysis reveals that nonbank lenders produced over 83 percent of FHA forward loans endorsed during the first quarter. With over 8,000 entities listed as originators and sponsors in FHA loan-level data, the overwhelming majority of them were independent mortgage banks, mortgage brokers and other nonbank lenders. The 14 largest FHA originators were all nonbanks, led by Quicken Loans, Freedom Mortgage and loanDepot. One sign of the overwhelming fragmentation in the FHA primary market is the fact that these three lenders accounted for just 11.3 percent of first-quarter endorsements. The largest depository originator of FHA loans was PrimeLending, an affiliate of PlainsCapital Bank. It ranked 15th in production with a ... [charts ]

What is an “egregious” VA mortgage loan? Panelists at last month’s VA Lending Conference in Kansas City, MO, helped shed light on such loans by describing them as flawed and in violation of VA requirements. “But there’s more,” said Greg Nelms, VA chief of loan policy. Unstable income and use of active-duty income when that income will be extinguished within one year could taint a VA loan and make it egregious, said Nelms. High debt-to-income ratio, residual income that is below VA requirements and failure to consider a spouse’s debts or credit in a community-property state also could have an adverse effect on a VA loan, he added. The panel presented several “egregious loan” scenarios involving reviews of several mortgages from 2016 in which lenders were required to sign indemnification agreements. The first example consisted of a VA home loan for $102,047, which closed in ...