Bank Retail Production Up in 2Q17, Sales Down September 27, 2017 John Bancroft Residential loan sales by banks totaled $151.79 billion in the second quarter, down 7.3 percent from the previous period. Read More
Subservicing Contracts Continue to Grow; Cenlar and Dovenmuehle Dominant Once Again September 27, 2017 Paul Muolo Subservicers handle 19.0 percent of all homes mortgages in the U.S., Inside Mortgage Finance found…Read More
Redwood Quickens Pace of Jumbo MBS Issuance; Deal Volume Doubles September 26, 2017 Brandon Ivey Kroll Bond Rating Agency assigned AAA ratings to the deal.Read More
Short Takes: Hurricane-Damaged MSR Deals? / FHA MF and Warehouse Lender Files to go Public / MBA Hires a Legend (Named Legend) / Nationstar Issues HECM Backed by ‘Inactive’ Collateral / Don’t Pass the Hat for Equifax’s Newly Departed CEO September 26, 2017 Paul Muolo and Brandon Ivey The Mortgage Bankers Association is projecting that more than 4,600 residential finance professionals will attend its annual convention in Denver next month. Read More
Mortgage Brokers Face Uphill Challenge in Jumbo Market September 26, 2017 John Bancroft MUFG Union Bank was the top wholesale lender in the jumbo market by a wide margin.Read More
HUD IG Throws Nonbanks Overboard in New Audit, Blames Ginnie for Inadequate Supervision September 26, 2017 Paul Muolo Ginnie Mae took umbrage at the IG’s findings, saying it was aware of the market share shift to nonbanks in 2012 and was already taking action…Read More
In Hurricane-Ravaged Areas, Ginnie Loosens Buyout Guidelines for Problem Loans September 26, 2017 Paul Muolo The new Ginnie Mae buyout authority expires March 31 of next year…Read More
The Game Continues: CFPB’s Cordray Sounds Like a Politician to Some, but Others Doubt He Will Run September 25, 2017 Thomas Ressler To some, CFPB Director Richard Cordray does not sound like a candidate…Read More
Short Takes: Look for a Boom in 203(h) Loans? / loanDepot Jumps on Board / Don’t Have a 2018 Budget Yet? There’s Still Time / Better than Expected Originations / Waiting on Godot – and Cordray to Make Up His Mind September 25, 2017 Paul Muolo In general, 2017 is turning out to be a better year than many originators expected...Read More
As GSE ‘Zero Capital Day’ Approaches, Hurricane Damage Looms Large? September 25, 2017 Paul Muolo FHFA Director Mel Watt is concerned about zero capital, but has not yet given any public indication he will do something about it...Read More