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 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…
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.
Caliber Home Loans has announced pricing of a uniquely structured private offering of secured term notes backed by Ginnie Mae mortgage servicing rights and excess servicing spreads.
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