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Questions Linger on Caliber and ‘Full Documentation’

September 14, 2018
Brandon Ivey
The differences are tied to how the rating services define full documentation.
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What We’re Hearing: Freddie Charter Creep? No, Just a Supplemental Service / Caliber Thinking About Going Public? / The Role Das Played in First Data’s Successful IPO / Dimon v. Trump – Bring it On! / Dimon, a Nervous Mess? / New Penn Rolls Out Piggyback

September 14, 2018
Paul Muolo
JPMorgan is the parent company of the nation’s second largest residential lender, Chase. Trump last decade started a small mortgage brokerage operation in Long Island and then killed it...
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September Issuance of Final FHA Condo Rule Unlikely

September 13, 2018
George Brooks
So far, the final rule has not been delivered for OMB review, a process that in the past has sometimes taken months to complete.
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Home-Equity Lending Up Sharply in 2Q18, but Market Far Below Its Potential

September 13, 2018
John Bancroft
Mortgage lenders generated an estimated $54.0 billion of new home-equity loans during the second quarter, up 18.7 percent…
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Growing Quickly, Tech Vendor Blend Names Former Treasury Secretary Jacob Lew to Advisory Board

September 13, 2018
Brandon Ivey
The number of mortgage lenders using technology from Blend has quadrupled in the past year…
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Stearns Agrees to Buy Stake in $3.2 Billion Lender as Part of PPP Effort

September 13, 2018
Paul Muolo
The pending deal marks the second acquisition in Stearns’ new Preferred Partner Platform initiative…
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Slightly Higher Warehouse Commitment Figures Mask Worries About Price Cutting and Nonbank Profits

September 13, 2018
The nation’s warehouse providers ended the second quarter with $67.0 billion of commitments on their books, a 6.3 percent sequential gain and an increase of 8.1 percent from a year ago, according to exclusive survey figures from Inside Mortgage Finance. [Includes one data chart.]
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Short Takes: Late for an Anniversary / GSE Reform: A Solution Searching for a Problem / ClearEdge Lending Ramps Up / Warehousing the Non-QM Market / LendingTree Shareholders Not Smiling Right Now

September 13, 2018
Paul Muolo
Silvergate Bank is actively providing warehouse lines of credit to non-QM lenders and we understand that Comerica is now sticking its toe in the water…
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A Few Silver Linings in the Origination Downturn: Improved GOS, More MSR Sales

September 12, 2018
Paul Muolo
Wedbush estimates that originations will fall by 8.0 percent this year…
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Ginnie Mae MBS Issuance Nudges Higher in August but Trails 2017

September 12, 2018
John Bancroft
Through the first eight months of the year, Ginnie issuance was down 11.0 percent...
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