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Fitch Faults Other Rating Services for AAA Grade on Galton’s Non-Agency MBS

October 18, 2018
Brandon Ivey
The three rating services noted the unique treatment of unpaid interest in their presale reports…
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Many Nonbanks Having Difficulty Meeting Covenants as Outside Observers Continue Warning About Increased Risk

October 18, 2018
Warehouse executives speaking on a panel at this week’s annual Mortgage Bankers Association convention offered a somewhat bleak view of the market.
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Nonbank Liquidity a Growing Concern. Ginnie Readies Stress Tests

October 18, 2018
Paul Muolo
Ginnie EVP Maren Kasper said the agency is currently working on stress tests for its issuers and could have results by early December…
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Short Takes: BCFP, Not CFPB / At MBA, Standing Room Only for Mick Mulvaney / Annaly Readies Non-QM MBS / A Warehouse Securitization Deal for loanDepot / Cash is King

October 18, 2018
Brandon Ivey and Paul Muolo
An affiliate of Annaly Capital Management is preparing to issue a $384 million mortgage-backed security stocked with non-qualified mortgages and loans for investment properties…
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Complaints Filed with the CFPB Fell by Double Digits in 3Q18

October 17, 2018
Yemeng Yang
The three major credit reporting bureaus – Experian, Equifax and TransUnion – continued to rank first, second and third, respectively, in the number of complaints filed…
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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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loanDepot Preps Second Prime Non-Agency MBS of the Year; Galton Increases ECM Issuance

October 17, 2018
Brandon Ivey
Some 20.9 percent of the loans in the new loanDepot MBS are eligible for sale to the GSEs, down from 40.7 percent in the previous deal from the nonbank…
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A Slight Gain in Originations for U.S. Bank in 3Q18

October 17, 2018
Paul Muolo
Loan production increased at U.S. Bank but mortgage revenue declined…
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Fannie Sells Three VA Buildings as it Preps for Office Consolidation

October 17, 2018
Carisa Chappell
The Fannie Mae Virginia properties were sold for roughly $130 million…
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Short Takes: What Will Ben Carson Cut? / GSE DTI Ratios Too High? / A Woman May Head the FHFA / Nomura Settles with DOJ / Strong Earnings from MGIC / Needed: Some CFPB Guidance

October 17, 2018
Brandon Ivey, Paul Muolo, and Yemeng Yang
Budget cuts coming to HUD?
Read More
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