Non-Mortgage ABS Issuance Hit a Post-Crisis High in 2017 January 19, 2018 John Bancroft Total non-mortgage ABS production climbed to $211.72 billion in 2017, the market’s strongest year for new issuance since 2007…Read More
Most Large Banks Report a Production Decline for 4Q17 January 19, 2018 Paul Muolo The lone bank bucking the trend was U.S. Bank, Minneapolis, which funded $12.5 billion, a 3.3 percent improvement from the prior period.Read More
Behind the Trump Tax Changes: Revised Treatment of Rate-Lock Commitments and Hedges January 19, 2018 Brandon Ivey IRLCs generally last 30 to 60 days, with lenders agreeing to make a mortgage at a particular interest rate prior to funding the loan.Read More
GSE Shareholders Appeal Loss in ‘Sweep’ Case Against the FHFA January 19, 2018 Carisa Chappell The plaintiffs argue that the GSEs and their private stockholders did not receive any consideration in exchange for the net worth sweep…Read More
The Trend is Clear: Nonbanks Poised to Have a 50 Percent Agency MSR Share January 18, 2018 John Bancroft The nonbank share of agency servicing grew by 4.7 percentage points during 2017.Read More
Four Years In, Non-QM Market Struggles to Amass Volume January 18, 2018 Thomas Ressler Authoritative numbers on the size of the non-QM space are difficult to come by.Read More
FHFA Chief Unveils Agency Views on GSE Reform, Worries About Having Too Many ‘SMEs’ January 18, 2018 Paul Muolo Watt and his staff do not want taxpayers to foot the bill for failing mortgage guarantors… Read More
CFPB Chief Wants to Make Sure Consumers are Protected and Companies Aren’t Misteated January 18, 2018 Thomas Ressler The first RFI from the CFPB will be on Civil Investigative Demands, which are issued during an enforcement investigation. Read More
Galton Funding Tests the Non-Agency MBS Waters January 18, 2018 Brandon Ivey Most of the mortgages in the MBS were underwritten with full documentation…Read More
Guild Mortgage Strikes First in What Could Be a Busy 2018 for Mergers and Acquisitions January 18, 2018 Guild Mortgage, which ranks 21st among all home lenders, has agreed to purchase Cornerstone Mortgage, St. Louis, marking the first acquisition of 2018, a year in which the rollup of smaller lending shops could be significant.Read More