Mortgage Business at NYCB (Flagstar) Improves in First Quarter April 28, 2023 Brandon Ivey More originations, an improvement on margins and an increase in income from servicing at NYCB.Read More
FHA Gaining Popularity Among Borrowers, Home Sellers April 28, 2023 Monica Hogan Both purchase-mortgage borrowers and home sellers are increasing their acceptance of FHA mortgages.Read More
Short Takes: Jumbos: Selling vs Holding / Interest Rate Trends / FHA and Flood Insurance April 28, 2023 Brandon Ivey There are some benefits to selling jumbos into the secondary market rather than holding the loans in portfolio.Read More
Short Takes: CFPB on Old Second Liens / Plenty of Servicing Available / Garris Horn Adds Partner / Overvalued Homes April 27, 2023 Brandon Ivey The CFPB is aiming to prevent foreclosures tied to older second liens.Read More
Federal Regulators Issue Warning on Use of Automated Systems April 26, 2023 Brandon Ivey CFPB Director Rohit Chopra cited the mortgage industry as an area of concern.Read More
VA Expands Scope of Loan Conference April 26, 2023 Monica Hogan “There’s nothing like being in a room and being able to discuss what are the hiccups, where from a policy standpoint can we do better,” said John Bell, executive director of the VA loan guaranty program.Read More
Short Takes: First Republic Reaction / Potential Sale or FDIC Intervention? / Applications Buck Interest Rates April 26, 2023 Brandon Ivey First Republic Bank's stock price dropped by 50% the day after the bank released earnings for the first quarter.Read More
Mortgage Insurance Activity Declines in First Quarter April 25, 2023 John Bancroft Loans with MI represented 63.8% of total mortgage-backed securities issued by Fannie, Freddie and Ginnie in the first quarter.Read More
First Republic to Reduce Portfolio After Tough First Quarter April 25, 2023 James Dohnert First Republic Bank plans to shift to originating loans for sale into the secondary market.Read More
Martell Takes in $16.4 Million for Restructuring loanDepot April 25, 2023 Paul Muolo In 2022, loanDepot lost $610.3 million compared to a profit of $623.1 million the year before.Read More