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Ginnie MBS Production Down 11 Percent Through Sept. 30

October 8, 2018
John Bancroft
Issuers pooled $19.63 billion of FHA and VA refi loans during the third quarter, down 11.6 percent from the previous period…
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Short Takes: Waiting on a Client / Layoffs at Eli Global? / Bonuses: Based on Volume or Profits? / New Penn Rolls Out New Non-QM Loan / NewDay Hires a Former Governor

October 8, 2018
Brandon Ivey and Paul Muolo
One source familiar with Eli Global’s mortgage operations said layoffs have occurred at the company’s mortgage unit...
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Fannie Names Former Berkshire Hathaway Executive Hugh Frater Interim CEO

October 8, 2018
Paul Muolo
Frater was also executive vice president at PNC Financial Services...
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Expanded-Credit MBS Issuance Up in 3Q, Prime Non-Agency Down

October 5, 2018
Brandon Ivey
Issuance trends for non-agency mortgage-backed securities stocked with newly-originated mortgages were mixed in the third quarter....
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Senate Hearing Scheduled to Focus on GSE Pilot Programs Oversight

October 5, 2018
Carisa Chappell
It appears that the Senate is ready to tackle industry complaints about Fannie Mae and Freddie Mac pilot programs. The Senate Banking Housing and Urban Affairs Committee announced this week that they will hold a hearing on Oct. 18 to discuss the oversight of pilot programs at the government-sponsored enterprises. …
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Short Takes: FHFA Seeks Input on DTS Modifications/More Millennials Are Mortgage Ready/Fannie's Latest CIRT

October 5, 2018
Carisa Chappell
 This week the Federal Housing Finance Agency asked for input on Fannie Mae and Freddie Mac’s proposed Duty to Serve Plan modification for 2018-2020. Fannie’s proposal includes modifying actions to reflect revised rural investment targets based on enhanced market insight and experience since re-entering the low-income housing tax credit (LIHTC) equity market. Fannie also proposes making low income housing tax credit equity investments in 20 properties in 2018, 30 properties in 2019 and 30 properties in…
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Refi Market Continued to Slip in 3Q18, but Purchases Lift Fannie/Freddie Business

October 4, 2018
John Bancroft
Purchase mortgages accounted for 71.4 percent of third-quarter GSE business…
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Former Redwood CIO Joins Shared-Appreciation Firm, Will Develop Securitization Outlet

October 4, 2018
Brandon Ivey
EquiFi plans to license its shared equity product to other originators…
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MI Firms See No Problems Meeting New PMIER Goals

October 4, 2018
Carisa Chappell
MI analysts agree that other than a few tweaks, the new PMIER requirements aren’t terribly different than the original proposal…
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SFR REIT Reven Inks $51.3 Million LOC from Arbor

October 4, 2018
Paul Muolo
A few months back, the Federal Housing Finance Agency ordered Fannie Me and Freddie to end their involvement in SFR financial arrangements. However, any deals in progress were allowed to close...
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