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Fannie Cuts Origination Forecast for 2013 and 2014

July 22, 2013
Paul Muolo
Purchase money lending will increase in 2014 but overall originations could swoon, according to a revised forecast from Fannie Mae.
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Wells, BofA, and Citigroup Trim Mortgage Workers, More on the Way?

July 22, 2013
Paul Muolo
Some of the nation's largest home lenders are beginning to cut mortgage workers as refinancing applications swoon.
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Short Takes: Higher Rates Good for Nonprime / Denali CU Keeps its Mortgage Powder Dry / HUD Goes Dark for a Day / The General Public Hates Fannie, Freddie / Congress, Hot Weather and Housing Issues

July 22, 2013
George Brooks, Paul Muolo, and Charles Wisniowski
Loan applications are strong at Citadel, a newly launched nonprime lender. HUD goes on furlough for a day.
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Jumbo and Servicer Advance Deals Lift Non-Agency MBS Issuance to Two-year High

July 19, 2013
John Bancroft
Redwood Trust, not surprisingly, was the top jumbo MBS issuer in the first half of 2013, according to exclusive rankings from Inside MBS & ABS.
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FHA Lenders, Guilty Until Proven Innocent? Compliance Experts Concerned

July 19, 2013
George Brooks
HUD thinks random sampling would help make post-endorsement reviews more efficient, but some legal advisors believe the cost is too great.
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Bernanke Calms Markets With Details About Fed Plans to Taper

July 19, 2013
Thomas Ressler
The Fed chief told elected officials that whatever housing finance reform plan they choose to replace Fannie Mae and Freddie Mac, it should be clear to private investors about the government’s role in the market.
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Securitization of Re-Performing Residential Mortgages Gaining Traction

July 19, 2013
Paul Muolo
Not only are nonperforming residential mortgages being placed into new securities, but so are re-performing loans.
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What We're Hearing: Industry Facing 40 Percent Layoffs? / Movement Mortgage Trims Staff / Mel Watt to the Rescue? / 125 Percent LTVs are Back, No Not HARP / HUD Auctions Off More than $3 Billion of NPLs / Hensarling Schedules Markup of GSE Bill

July 19, 2013
Fear and loathing in the mortgage job market? Movement Mortgage has let several mortgage workers go. Can looser underwriting standards save the day?
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Growing GSE Purchase Market Surprisingly Uniform

July 18, 2013
John Bancroft
First-time homebuyers accounted for 33 percent of all GSE-securitized purchase mortgages in the first half, according to Inside Mortgage Finance.
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First Republic Reduces Non-Agency Loan Sales in Second Quarter

July 18, 2013
Brandon Ivey
Jumbo originations increased at First Republic Bank, but its mortgage gain-on-sale margin took a hit.
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