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Non-Agency MBS Issuance Down Sharply in 1Q18, but Subprime and Alt A Show Promise

April 13, 2018
John Bancroft
During 1Q18, issuance of MBS backed by seasoned loans fell 50.8 percent…
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Chicago Bank Pulls the Plug on National Residential Lending, Will Take a $37 Million Hit (At Least)

April 13, 2018
Paul Muolo
MB Financial plans to keep originating home loans in the greater Chicago area and will keep its mortgage servicing platform intact.
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JPM’s Origination Machine Tanked in 1Q18

April 13, 2018
Paul Muolo
Despite the drop, JPM marked up the asset value of its mortgage servicing portfolio...
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A 19 Percent Drop in Residential Lending at Wells Fargo; Megabank Says Regulators Want $1B to Settle Auto and Mortgage RLC Charges

April 13, 2018
Paul Muolo
Wells said the CFPB and OCC have asked the megabank for a $1 billion settlement in the matter.
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What We’re Hearing: OMB Reviewing VA Anti-Churning Rule / MB Financial Shutters Mortgage Division: A Canary in a Coal Mine? / Put Your Seatbelt On / No Complaints From the Nonprime Sector / The Search for Dave Stevens Successor at MBA Narrows

April 13, 2018
George Brooks and Paul Muolo
Now comes the big question: How many more MB Financials are out there?
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MBA Casts the Net Far and Wide for New Chief

April 13, 2018
To date, Spencer Stuart, the search firm working to find a successor to Mortgage Bankers Association President and CEO Dave Stevens, has contacted roughly 40 different men and women, according to industry officials who claim to have knowledge of the process. For the most part, MBA wanted to cast a net as wide as possible, approaching current and former members of Congress, trade group officials, lobbyists and senior and veteran industry executives. Included in the initial search ...
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Private MI Loan Volume Down Sharply in 1Q18

April 12, 2018
John Bancroft
The upside for private MIs is that their purchase business started off 2018 at a more robust level than last year…
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SG Capital Partners Packs Large Share of Non-QMs into its Latest Nonprime MBS

April 12, 2018
Brandon Ivey
SG Capital Partners focuses on loans with higher balances than other nonprime MBS aggregators.
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Wedbush Takes an Ugly View on Mortgages, Says Direct Lenders will be the Biggest Losers This Year

April 12, 2018
Paul Muolo
On the plus side, Wedbush sees mortgage servicers and home builders benefitting…
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A Defiant Mick Mulvaney Tells Democrats: ‘I Haven’t Burnt the Place Down’

April 12, 2018
Yemeng Yang
Rep. Maxine Waters, D-CA, the ranking member of the panel, would not acknowledge that Mulvaney is the head of the agency but asked him questions anyway.
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