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Home » Topics » IMFnews » Originations

Originations
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Banks Gain GSE Market Share in Second Quarter

July 12, 2023
Dennis Hollier
Lenders delivered $174.26 billion in loans into Fannie Mae and Freddie Mae mortgage-backed securities in the second quarter, a robust 37.9% sequential increase.
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Movement Mortgage Sales Chief Departs

July 12, 2023
Paul Muolo
Pennington worked for Movement for 15-plus years...
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Financial Institutions Critical of CFPB’s Abusiveness Policy Statement

July 12, 2023
Sam Manas
American Bankers Association Senior Counsel Kathleen Ryan said that the statement's examples of abusive conduct were based on “unproved and untested allegations in enforcement actions,” not on caselaw.
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Short Takes: Figure Partners With More Lenders / Quick Approval and a Credit / Limited Inventory / New Hire at Cenlar

July 12, 2023
Brandon Ivey
Several top lenders have outsourced originations of home equity lines of credit to Figure.
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Communication Between Nonbanks, Warehouse Lenders Key

July 11, 2023
James Dohnert
If mortgage providers struggle to meet covenant terms, warehouse banks advise early and honest communication before any violations occur.
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Short Takes: New Expanded-Credit MBS / Home Price Appreciation Slows / Underwriting Standards Static / Home Equity Startup

July 11, 2023
Brandon Ivey
An affiliate of Lone Star Funds is set to issue an expanded-credit MBS.
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Maintenance Risk a Major Factor in New GSE Condo Rules

July 10, 2023
Dennis Hollier
Fannie and Freddie will not buy condo loans in projects with unfunded repairs in excess of $10,000 per unit.
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Correspondent Channel Share Grows in FHA/VA Market

July 7, 2023
Monica Hogan
The correspondent channel captured 49.1% of originations in the first quarter, up from a 47.3% share in the previous quarter.
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Higher Interest Rates Squeezing Younger Potential Borrowers

July 7, 2023
Dennis Hollier
When interest rates on mortgages rise, young and middle-income consumers fall away from the mortgage market, according to a working paper from FHFA.
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Short Takes: Interest Rates Up / Borrowers Adjusting / Ginnie Adds RHS to LMI Disclosures

July 7, 2023
Brandon Ivey
Interest rates on mortgages reached their highest level of the year (thus far).
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