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Correspondent Channel Biggest Gainer in Origination Volume

August 20, 2015
John Bancroft
All three mortgage production channels saw solid gains in originations from the first quarter to the second quarter of 2015, but correspondents had the best of it.
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GSEs Gaining Purchase-Mortgage Market Share from FHA Seen as a Seasonal Trend

August 20, 2015
Brandon Ivey
A recent shift in the purchase-mortgage market share toward the government-sponsored enterprises appears to be part of seasonal home buying patterns rather than direct competition for mortgages with low downpayments.
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Industry Wants Clarification on Diversity Proposal

August 20, 2015
Thomas Ressler
The mortgage finance industry generally supports the final interagency statement on diversity policies and practices issued by the federal banking regulators, the Consumer Financial Protection Bureau and the Securities and Exchange Commission, but called for additional clarification on some of the data being sought in order to maximize its effectiveness – and to limit lenders' liability.
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FHFA Raises Low-Income Housing Goals on Single-Family, Multifamily

August 20, 2015
Carisa Chappell
The Federal Housing Finance Agency released final housing goals for Fannie Mae and Freddie Mac for 2015 through 2017 on Wednesday. It increased both the single-family low-income purchase goals and multifamily low-income goals and established a new low-income housing subgoal for small multifamily properties.
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Mortgage Industry Has Helped 30 Million Struggling Homeowners

August 20, 2015
Thomas Ressler
The mortgage industry has completed a total of 24 million workout plans and six million proprietary loan modifications for homeowners since 2007, according to new figures released Thursday by HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors.
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Short Takes: Get Your TRID On / Guidance on Private MI / It's Official. Your Wallet is Safe

August 20, 2015
Thomas Ressler
Get Your TRID On. The Consumer Financial Protection Bureau has put out a Know Before You Owe guide for real estate pros to help them navigate the upcoming TILA/RESPA Integrated Disclosure rule, otherwise known as TRID.
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Short Takes: Refi Applications Increase / Closing Time Trends / Tracking Borrowers' Activities / 'GrubHub for the Mortgage Industry'

August 19, 2015
Brandon Ivey
The Mortgage Bankers Association's non-seasonally-adjusted application index increased by 3.0 percent compared with the previous week, with the increase driven by refinances.
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Potential Action from FHFA for Principal Reduction on GSE Loans Seen as Too Late

August 19, 2015
Brandon Ivey
If the Federal Housing Finance Agency implements a principal reduction program that applies to all delinquent mortgages serviced by the government-sponsored enterprises that have negative equity, the Housing Finance Policy Center estimated that 14,563 principal-reduction mods would be completed.
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S&P Leads Rating Share for Non-Mortgage ABS, Lags in Ratings on Non-Agency MBS

August 19, 2015
John Bancroft
DBRS was the most active rating service in the non-agency mortgage-backed security market halfway through 2015.
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Homebuyers Change Tactics in Effort to Make Purchases in Competitive Market

August 19, 2015
Brandon Ivey
Repeat homebuyers are increasingly selling their existing homes before purchasing a new property, according to a survey by Redfin.
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Latest Imf News

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