Caliber Stocks MBS with Non-QM Jumbos for Affluent Borrowers September 27, 2019 Brandon Ivey Caliber’s Elite Access program is aimed at borrowers who could not qualify for a jumbo mortgage at a bank.Read More
Short Takes: Judging GSE Pilot Programs / Freddie Mum on the Exact Size / Warehousers Have Entered the Sector / Significant Changes at FHA Unlikely / Pointillist? September 26, 2019 Paul Muolo Freddie Mac declined to say how much credit it had extended under the pilot, though a spokesman said it was under $1 billion. Read More
Reverse Mortgages Under the CFPB Spotlight Due to APR Issues September 26, 2019 Yemeng Yang The new CFPB report covers findings from examinations completed between December 2018 and March 2019. Read More
Rising Real Estate Values Boost Home Equity: CoreLogic September 26, 2019 Yemeng Yang Rising real estate values translate into more home equity for consumers, but that doesn’t mean they will tap it…Read More
Short Takes: Another Record Quarter for Angel Oak / Former PrimeLending Official Joins AO / The CFPB Staffs Up / If the QM Exemption Goes Away / New Hires for loanDepot, M&M September 25, 2019 Paul Muolo If the QM "patch" disappears as scheduled in early 2021, some lenders might see originations plummet. At least, that's the fear...Read More
A Smackdown for New Mortgage Applications. Time to Worry? September 25, 2019 Paul Muolo Industry vet Bill Dallas of Finance of America: “The next two quarters will be pivotal for mortgage bankers.”Read More
A Republican White House Comfortable With an ‘Explicit’ Guarantee on Agency MBS September 25, 2019 Paul Muolo When it comes to MBS guarantees, it would be a pay-as-you-go system...Read More
Non-QM MBS a Hit with Some Investors, Losses Almost Nonexistent September 25, 2019 Brandon Ivey Investors are flocking to non-QM MBS and losses on the deals have been essentially non-existent. However, some large firms continue to hold out for better protections.Read More
Short Takes: About That QM Patch… / A Safety and Soundness Issue? / Overpaid Loan Officers? Say It Ain't So, Joe / ACUMA Pulls the Plug on Media Coverage / The CFPB and the Ability to Fire (Its Director) September 24, 2019 Paul Muolo and Yemeng Yang Industry consultant Joe Garrett wonders about LO pay on "easy" loans...Read More
A Lack of Consensus on What to Do With the Expiring ‘Patch’ September 24, 2019 Yemeng Yang Among the commenters: The National Association of Realtors, which suggested using the DTI ratio as a compensating factor.Read More
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