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The New Breed of Nonprime Lenders See Plenty of Room for Growth

September 23, 2016
Brandon Ivey
Tom Hutchens, SVP of sales and marketing at Angel Oak, said originations of nonprime non-QMs have predominantly been purchase mortgages. However, refinance activity is starting to increase…
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What We’re Hearing: GSE Loan Limits to Move Higher? / No One Feels Sorry for Wells Fargo / The King of the Cross-Sell is now the King of Pain / Maybe the CFPB Needs a Kick in the… / MBA’s Dave Stevens Doesn’t Expect Peace to Break Out / Skyline Still Hiri

September 23, 2016
Paul Muolo
Mortgage lenders, start your engines: the Fannie Mae/Freddie Mac loan limit is set to rise...
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And the Beat Goes On: Banks Continue to Cede MSR Business to Nondepositories

September 22, 2016
John Bancroft
Meanwhile, bank whole loan portfolios have been increasing – largely because of the resurgence of jumbo mortgage originations, along with the recovery in home-equity lending.
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CFPB Chief Cordray Gives Kudos to Credit Unions on their Mortgage Performance

September 22, 2016
Thomas Ressler
The improved numbers suggest that the industry’s fears those rules would crush or even depress the market somewhat were overblown.
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Yellen: Fed Will Monitor Wells Fargo, Others for Consumer Harm

September 22, 2016
Thomas Ressler
The Wells account and credit card scandal did not involve mortgages, but the bank is the nation’s largest overall home funder and retail originator.
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The Final Tally: Production Profits Rose in 2Q16, but Servicing Results Hammered

September 22, 2016
John Bancroft
A group of 13 publicly traded lenders reported a combined $1.72 billion in production and secondary marketing income for the second quarter.
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SEC Charges Against Hedge Fund Chief Include Allegations Tied to Altisource Investment

September 22, 2016
Brandon Ivey
Altisource’s stock price declined by 6.4 percent to $30.77 per share shortly after the charges were announced, but the stock has rebounded somewhat…
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Short Takes: Don v. Hillary. Bring the Popcorn / The Future of Fannie and Freddie? / How to Promote Homeownership / JPM Finishes the Mortgage Test Early

September 22, 2016
Brandon Ivey and Paul Muolo
Meanwhile, if you want to know where Clinton and Trump stand on the issue of homeownership in America, you can review their respective party platforms...
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Former Clayton Chief Joe D’Urso Lands at Pretium Partners

September 21, 2016
Paul Muolo
Founded by former Goldman Sachs executive Donald Mullen, Pretium Partners bills itself as a specialized investment management firm with roughly $6.5 billion of assets under management.
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Mortgage Production is Booming but Reports Abound of Appraisers Cherry-Picking Assignments and Charging ‘Rush Fees’

September 21, 2016
Paul Muolo
One mortgage CEO who runs a California-based shop told IMF his firm recently was in a pinch and paid a $1,500 “rush fee” to an appraiser to get a deal done on time.
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