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.Read More
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. Read More
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.Read More
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.Read More
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. Read More
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 governments role in the market.Read More
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.Read More
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? Read More
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.Read More
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.Read More