Mortgage lenders securitized $90.95 billion of single-family MBS through the GSEs and Ginnie Mae during August – the biggest monthly volume since September 2013, according to IM&A.
There are signs of life in mortgage hiring, depending on the job description. Firms looking to increase staff levels include the lending arm of Bayview Asset Management, Citadel Loan Servicing and Carrington Mortgage Services.
The level of warehouse commitments rose 9.6 percent on a sequential basis in the second quarter as originations increased in the primary market, according to figures compiled by Inside MortgageFinance. Overall, commitments edged up to an estimated $30.0 billion across the industry. But compared to the same period a year ago, commitments fell a bloodcurdling 26.8 percent, reflecting the downdraft in the overall origination market over the past 12 months. According to interviews conducted by Inside Mortgage Finance over the past few weeks, usage rates improved...[Includes one data chart]
Originating unsecured consumer loans can be a risky venture, but LoanDepot says it wants to drive growth. Of course, it doesn't have any public shareholders to answer to.
In an environment with limited jumbo originations, the transaction gives Chimera access to a large amount of seasoned residential mortgages that can be securitized into new investments.