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Trade Groups Express Doubts Over Proposed Changes to FHA Defect Taxonomy

July 11, 2019
Brandon Ivey

The trade groups are calling on the Department of Housing and Urban Development to either remove FHA certifications or replace them with a straightforward lender acknowledgement of key requirements based on loan eligibility…


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Chase Increasing Issuance of Jumbo MBS with High-LTV Ratio Loans

July 11, 2019
Brandon Ivey
Some 77.1% of loans in the deal were originated by United Shore Financial Services, the owner of United Wholesale Mortgage.
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A Very Good Sign: Agency MBS Issuance Surges in 2Q19

July 11, 2019
John Bancroft

The robust second quarter brought year-to-date agency MBS issuance to $562.02 billion, just 1.3% below the level reached in the first six months of last year.


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FHFA Changes Course on Constitutionality Question

July 10, 2019
Dennis Hollier

The for-cause provision has been front and center in a case currently before the Fifth Circuit...


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Short Takes: M&A in the Tech Space / It’s a Revolution? / Amazon and loanDepot? Whatever Happened to that One? / Angel Oak Weighs In on Non-QM Market

July 10, 2019
Paul Muolo

Meanwhile, whatever happened to all that chatter about Amazon.com buying loanDepot?


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Fannie Offering Employee Buyouts. A Reaction to ‘Recap & Release’?

July 10, 2019
Paul Muolo

As of January 2019, Fannie employed 7,400 people compared with 7,200 a year earlier, according to 10-K filings with the Securities and Exchange Commission. There was no mention of the word “buyout” or “buyouts” in the SEC filing.


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Depositories Suffer a Substantial Drop in Mortgage Sales

July 10, 2019
John Bancroft

Residential loan sales by Wells Fargo tumbled 23% while U.S. Bank suffered a 38% sequential decline…

 


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Short Takes: When Two Parties Don’t Agree: BK / Sorting Through the Possibilities / A Strong 2Q19 Reading from Stearns / The Rocket Loans APR: 7.16% / Recruiter Rick Glass Retires

July 9, 2019
Paul Muolo

The privately held Stearns originated $4.5 billion of home mortgages during the second quarter, a 45% sequential gain…


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Moody’s: Quicken Stronger than Other Nonbank Lenders

July 9, 2019
Brandon Ivey

The other lenders that Moody's looked at: Ditech Financial, Freedom Mortgage, Mr. Cooper, New Residential, Ocwen Financial, PennyMac Financial Services, Provident Funding Associates and Stearns Lending...


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Headed to the Supreme Court (Possibly): The Constitutionality of the CFPB

July 9, 2019
Yemeng Yang

“This case, which clearly presents the question whether the CFPB is constitutional, is an ideal vehicle for the court’s review,” wrote Seila Law. “The petition for a writ of certiorari should therefore be granted.”


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