FHA Originations Take it on the Chin; Nonbanks Continue to Dominate May 14, 2019 George Brooks Over the past three years, FHA's best quarter came in 3Q16 when lenders produced $72.3 billion of forward loans...Read More
Ditech’s Top Brass Took Home $8 Million-Plus Last Year May 14, 2019 Paul Muolo Traded on the OTC market, Ditech's stock price is roughly four cents a share...Read More
Chase to Issue its First Post-Crisis MBS Backed by Investment Properties May 14, 2019 Brandon Ivey A number of lenders and issuers have seen better execution for GSE-eligible investment-properties in non-agency MBS instead of delivering the product directly to Fannie and Freddie...Read More
Short Takes: China, Trade and Falling Rates / Rethinking the Downpayment Idea / Understanding Reverse Mortgages / It’s Official: Hill Vet Clinton Jones Joins the FHFA May 13, 2019 Paul Muolo and Dennis Hollier The way FHFA Director Mark Calabria keeps adding staff, the agency might need more office space...Read More
Flagstar Faces Financial Exposure on Failure of Reverse Lender May 13, 2019 Dennis Hollier Reverse lender Live Well Financial of Virginia closed its doors last week, laying off roughly 100 full-timers... Read More
Large Non-QM Deals on the Way from WAMCO and Verus May 13, 2019 Brandon Ivey Western Asset Management's new non-QM deal is sized at nearly $1.0 billion...Read More
Signs of Life: A 24% Jump in Ginnie Mae Issuance May 13, 2019 John Bancroft The volume of both purchase and refinance loans was up sharply from March... Read More
On the Radar Screen of the CFPB: Non-QM Lenders May 13, 2019 Brandon Ivey Non-QM lending – the “new nonprime,” to some degree – totaled roughly $45.2 billion last year, a 20.2% improvement over 2017. Read More
What We’re Hearing: The Return of Impac’s Co-Founder / Surviving Somehow / Vista Point Mortgage Arrives / Mangiaracina Hopeful / Armageddon Times? (Avoided) / Warehouse Rising May 10, 2019 Paul Muolo Bill Ashmore's new venture is based in Irvine, CA, home to many entrepreneurial mortgage shops...Read More
Losses Continue as Impac Shifts Focus to Non-QMs May 10, 2019 Brandon Ivey Impac's increased emphasis on non-qualified mortgages has yet to translate into profits. The nonbank's GOS was hammered compared to 1Q18...Read More
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