M&T Bank doesn’t even rank among the top 50 FHA-direct lenders in the nation, according to a recent ranking by affiliate publication Inside FHA/VA Lending...
Mortgage officials tracking the case note that almost a year ago Quicken raised $1.25 billion through a debt sale, money that can be employed for legal help as it fights the DOJ case.
Perhaps, the time is drawing near to once again raise the thorny issue of whether the Department of Housing and Urban Development should cut FHA premiums...
Quicken Loans CEO Bill Emerson ruled out any possibility of settlement with the Department of Justice over allegations of filing false claims on flawed FHA-insured mortgage loans, preferring instead a jury trial. During a recent interview with CNBC’s Squawk Box, Emerson said settlements are a business model that has worked well for the DOJ in its effort to recover taxpayer losses due to questionable FHA lending practices. Quicken Loans, however, will not cave in to agency…
Over half (51.1 percent) of VA loans securitized through Ginnie MBS in the first quarter of 2016 were retail originations, but only 39.1 percent of FHA loans came through that channel.
Recent studies suggest reduced pricing and declining costs have given conventional mortgages with private MI an edge over FHA in the battle for high-quality borrowers...
A surge of new refinance business and a seasonal uptick in purchase-mortgage activity helped lift agency issuance of single-family MBS in April, according to a new Inside MBS & ABS analysis and ranking. Fannie Mae, Freddie Mac and Ginnie Mae produced $108.95 billion of new single-family MBS last month, the strongest monthly output since September 2015. Gross new issuance was up 9.8 percent from March, but on a year-to-date basis, production was still down 3.9 percent from the volume generated in the first four months of 2015. Ginnie saw...[Includes two data tables]
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