Among the changes, the two GSEs will no longer require that a lender automatically repurchase a residential loan when a mortgage insurance company rescinds coverage.
Overall, refi loans accounted for 45.7 percent of agency MBS production in the first four months of 2014, compared to 77.2 percent during the same period last year.
Non-QM mortgages will exist throughout the credit spectrum, according to Mitch Hochberg, a partner at Fenway Summer and general counsel at Ethos Lending, a start-up wholesale mortgage originator.
How much have their balance sheets shriveled over the years? In September 2008, the month in which Treasury placed the GSEs into conservatorship, Fannie alone had a gross mortgage portfolio of $761 billion
It’s now believed that the legislation will clear the committee, but Majority Leader Harry Reid will not allow it to move any further because of weak support overall.
The sphere of mortgage lending that will exist outside the parameters of the qualified-mortgage standard established by the Consumer Financial Protection Bureau represents an attractive opportunity for both lenders and bond buyers, but skittish investors need to be won back before they return and participate to any significant degree. That was one of the key take-aways from a webinar sponsored this week by Inside Mortgage Finance, an affiliated publication. Non-QM mortgages will exist...
With $1.811 trillion of mortgage servicing rights on its books at the end of the first quarter, it would take an earthquake to knock Wells Fargo into the humble 12-figure universe.
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