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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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With Stock Price Low, PennyMac REIT Approves $150 Million Share Repurchase Program

August 19, 2015
Brandon Ivey
PennyMac Mortgage Investment Trust may repurchase up to $150 million of its outstanding common shares as the real estate investment trust's stock price has declined this year.
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First-Time Homebuyers Faced with Higher Price-to-Income Ratio than Buyers in Previous Decades

August 18, 2015
Brandon Ivey
Increases in home prices have outpaced growth in income for first-time homebuyers, according to an analysis by Zillow.
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Consumer Advocates Tout Ability to Get Loan Modifications for Borrowers that Have Been Denied in HAMP

August 18, 2015
Brandon Ivey
The Nonprofit Alliance of Consumer Advocates focuses on helping borrowers that have mortgages owned by a servicer subject to the $25 billion national servicing settlement.
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Invesco Turns Profit in Second Quarter, Increases Holdings of Agency Adjustable-Rate Mortgages

August 18, 2015
Brandon Ivey

Short Takes: Re-Insurance Risk-Sharing Deal / New York Foreclosure Process / Non-QM Underwriting Guidelines / New Lender Enters Market

August 18, 2015
Brandon Ivey
Credit Insurance Risk Transfer 2015-2 covers an $8.1 billion pool of mortgages with a maximum coverage of approximately $202.5 million provided by re-insurers.
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FHA Enhances Lender Performance Assessment with Supplemental Performance Metric

August 18, 2015
George Brooks
The metric will assess lender performance based on the lender’s default rate within three credit-score bands and compare it to an FHA target rate, rather than to the lender’s peers.
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Latest Imf News

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