Flagstar Sues Mortgage Lender Over Unpaid Warehouse Lines November 28, 2023 Paul Muolo According to the lawsuit, Hometown Lenders owes Flagstar Bank roughly $21 million from unpaid warehouse lines.Read More
Short Takes: MI Exempt From SEC Rule / BofA Providing Financing to Rocket / Blend Scales Back Financing / Climate Risk and Inequality November 28, 2023 Brandon Ivey and Paul Muolo Mortgage insurance linked notes will be exempt from a rule the SEC issued Monday on conflicts of interest in securitizations.Read More
Market Share Gains for Correspondent Lenders November 27, 2023 John Bancroft A number of competitors in the correspondent channel registered eye-popping growth...Read More
CMG of California Expands Further Into New England November 27, 2023 Paul Muolo CMG owner Chris George continues to find "bolt-ons" for his branch network...Read More
CFPB Launches Pilot for Disclosures on Construction Loans November 22, 2023 Sam Manas The pilot was prompted by a request from the Independent Community Bankers of America.Read More
Short Takes: Average Loan Amount Declining / Slow Recovery for Home Sales / Delinquencies Decline / Thanksgiving Break November 22, 2023 Brandon Ivey Average loan amounts on mortgage applications are coming down as the share of first-time homebuyer applicants increases.Read More
Jumbo Originations Decline in Third Quarter November 21, 2023 James Dohnert Jumbo production declined by 6.0% in the third quarter and the sector lost some market share.Read More
Modest Increase in Non-Agency MBS Issuance Expected November 21, 2023 Brandon Ivey Issuance of non-agency MBS and GSE CRT deals will increase by 9% on an annual basis in 2024, according to projections by Kroll Bond Rating Agency.Read More
HMDA Reporting a Compliance Issue for Banks November 21, 2023 Sam Manas Companies’ boards and senior management need to “recognize the inherent risk of the HMDA process” and provide human and capital resources to it, according to the Fed.Read More
Short Takes: Eye on the 10-Year / A Decline in Forbearance / CrossCountry Expands DPA Program / Rithm Completes Acquisition / APM Promotes Lowman to Chair November 21, 2023 Brandon Ivey and Paul Muolo Some 0.29% of mortgages were in forbearance as of the end of October.Read More