GNMA MBS Production Down Sharply in February March 18, 2019 John Bancroft Much of the reduced refi business resulted from a 14.8% drop in cash-out transactions...Read More
Worried About Risk, FHA Seeks to Mitigate Decreasing Credit Scores, More… March 18, 2019 George Brooks Changes to the agency’s TOTAL Mortgage Scorecard, go into effect March 18...Read More
Non-QM Lender Angel Oak Quickly Returns to the MBS Market with its Largest Deal Yet March 18, 2019 Brandon Ivey The underlying mortgages have an average credit score of 703...Read More
Genworth Sale Continues to Drag On, Ninth Waiver Granted March 18, 2019 Paul Muolo The sale of Genworth was first announced in October, 2016…Read More
Short Takes: A New Wave of Optimism? / Value Your CFO / Feds Plan Community Hearings on BB&T-SunTrust Deal / MFA Buying Plenty of Whole Loans. Can An MBS Be Next? / Former HUD Official Pam Patenaude Lands March 18, 2019 Paul Muolo Mortgage REIT MFA Financial, New York, bought roughly $1 billion worth of loans during the fourth quarter...Read More
What We’re Hearing: The Changing of the Guard at the FHFA / A Deep Resume / Retained Capital for Fannie and Freddie, a Matter of When? / The Holy Grail / Impac Mortgage, Act III / FHA Moves to Sure Up its Book March 15, 2019 Paul Muolo An increase in retained earnings is a pre-cursor to GSE “recap and release,” or as Fannie/Freddie investors call it, the Holy Grail…Read More
A Challenging 4Q18 for Impac; Lender Sells $10.5B of MSRs March 15, 2019 Paul Muolo In the fourth quarter, Impac’s gain-on-sale margin increased 85 basis points to 203 bps, a reflection of its growing originations of non-QM loans.Read More
FHFA’s Otting in a Position to Bolster the Non-Agency Market March 15, 2019 Brandon Ivey SIFMA’s Daniel Goodwin: “Financial regulators must create a level playing field so that entities like the GSEs do not enjoy capital benefits that add to the tilting of the market…”Read More
Home-Equity Market Sagged in 2018, but Still a Bright Spot March 14, 2019 John Bancroft Credit unions reported a 19.5% increase in closed-end second originations from the first half of 2018 to the second half…Read More
SBC Chairman Crapo Schedules Two Days of Hearings on GSE Reform March 14, 2019 Paul Muolo NAR would like to see Fannie and Freddie restructured as tightly regulated shareholder-owned utilities...Read More
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