Respondents to the Mortgage Bankers Association's quarterly mortgage banking performance survey reported, in aggregate, a negative margin in the “mid to high single digits” for the first quarter.
Most of the decline in FHA business was in purchase-mortgage lending while VA business took a hit due to reductions in the Interest Rate Reduction Refinance Loan program.
Non-QMs account for 81.1 percent of the dollar volume of the planned MBS while the other loans are for rental properties and exempt from ability-to-repay standards.
The House decided to take a vote on the current Senate bill with no amendments and the Senate is expected to consider a separate deregulation package from the House.
Fifth Third Bancorp announced on Monday that it has agreed to buy MB Financial in a transaction valued at approximately $4.7 billion. The combined company will then rank fourth in total deposits and second in retail deposits in Chicago market. It will also have a 20 percent share of middle market relationships in Chicago, ranking it second.
The non-qualified mortgage share of originations by banks increased slightly in 2017, according to a survey by the American Bankers Association. The share of banks offering non-QMs also increased.
Production of non-agency jumbo mortgages declined significantly in the first quarter of 2018, according to a new ranking and analysis by Inside Nonconforming Markets.
A key Treasury Department official suggested that issuers of non-agency MBS may someday participate in the common securitization platform being developed by Fannie Mae and Freddie Mac.
Senate Majority Leader Mitch McConnell, R-KY, announced to take a vote on the nominee for FHA commissioner, Brian Montgomery. Given the other nominations already in the Senate floor queue, the vote is expected to occur sometime in June…
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