Short Takes: The $40B A Month Habit Will Continue / Inflation? Ha! / CFPB Makes Announcement, Trouble Ahead for VA Lenders? / A New Correspondent Chief for GHMC June 17, 2021 Lisa Burden and Paul Muolo No Fed rate hikes until 2023? Sure, why not...Read More
Fannie Negotiating With Seller/Servicers on Investor-Loan Cap. Some Told 3% is the New Normal? June 16, 2021 Paul Muolo and Dennis Hollier A Fannie spokesman said the mortgage giant, at this time, is not instituting a specific broad based 6% cap but...Read More
Loan Repurchases Spike Higher in Bank Mortgage Bank Units June 16, 2021 John Bancroft Most of the jump in bank repurchases in early 2021 came from USAA Federal Saving Bank...Read More
GOS Margins Get Squeezed. The First Victim: TPOs June 16, 2021 Brandon Ivey Lending through third-party originators, particularly wholesalers, has experienced the most margin compression, according to Baron Silverstein of NewRez...Read More
Lenders: Risk-Retention Link Between QMs and QRMs Should Stay June 16, 2021 Brandon Ivey The feds were slated to start reviewing the rules in 2020 but put the examination on hold pending the revision of QM standards.Read More
Home Mortgages Playing a Larger Role at SoFi June 15, 2021 Brandon Ivey In 1Q21, the San Francisco-based SoFi originated $735.6 million of mortgages, accounting for 28.9% of total loans produced.Read More
Top-50 Ranked NB Moves to Purchase Roscoe of Texas June 15, 2021 Paul Muolo No information was available on Roscoe’s residential business. Its home lending portfolio totals just $24 million.Read More
As a Profit Center, Servicing Turns a Corner as Production Profits Recede June 15, 2021 John Bancroft Much of the improvement came from three large nonbank servicers: Rocket Companies, Mr. Cooper Group and New Residential Investment...Read More
A Sign of the Times: Warehouse Commitments Begin to Ebb June 14, 2021 Paul Muolo But as always in the mortgage business, it’s not a matter of where you’ve been but where you’re going...Read More
GSE Business Tumbles in May as Refi Well Runs Dry June 14, 2021 John Bancroft Rate-term transactions, the bread-and-butter of the refi market, declined 33.6% in May. GSE purchases of cash-out refinances fell 18.1% from April.Read More