Mortgage originations are already off to a better start in 2015, and industry economists are predicting, on average, a 15 percent increase from last year’s sluggish output. But uncertain prospects in the housing market point toward a decline in mortgage originations next year, according to forecasters at the secondary market conference sponsored this week by the Mortgage Bankers Association. 2015 should bring the strongest housing sales volume since 2007, said Leonard Kiefer, deputy chief economist at Freddie Mac. Sales activity was decent over the winter, despite severe weather in many areas, but the market has yet to get back to normal. Freddie looks...[Includes one data table]
“U.S. Bank was asked why it wasn’t expanding in the mortgage business,” Gabriel said during a panel discussion. “Their answer was: ‘Did you see what happened to Bank of America?’”
According to analyst Paul Miller of FBR Capital Markets, the standards are meant to “impact small, nonpublic, nondepository institutions that have operated on the periphery of the sector.”
Who might replace Lawsky? How about: Rohit Chopra, assistant director and student loan ombudsman for another agency that’s highly popular with mortgage executives: the CFPB.
Warehouse banks increased their commitment levels to $40 billion at the end of the first quarter, a 14.3 percent sequential gain and a sign that all is well in residential originations, at least for now. Not only did warehouse providers benefit from stronger originations in early 2015, their business was boosted by the fact that nonbanks continue to gain origination market share. Compared to the same quarter a year ago, commitments are up a mouth-watering 42.9 percent, according to exclusive survey figures compiled by Inside Mortgage Finance. Then again, at $360 billion, the first quarter of 2015 was...[Includes one data table]
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