Non-QMs Attractive Investments for Life Insurers July 20, 2023 James Dohnert The growth is partly due to improved dynamics between life insurers and mortgage partners.Read More
Short Takes: Standards for Fee Names / Originations Weaker Than Expected / Cash Share of Home Sales Declines / Supply and Demand July 20, 2023 Brandon Ivey MISMO provided some standards for nearly 200 fees that a borrower could see on a Loan Estimate form.Read More
Despite Home Lending Gains, Layoffs at U.S. Bank July 19, 2023 Paul Muolo Second quarter mortgage banking revenue at USB came in at $161 million compared to $128 million in 1Q23.Read More
BofA CEO Pushes Back on Capital Requirements July 19, 2023 Brandon Ivey Banks have enough capital, according to Brian Moynihan, chair and CEO of Bank of America.Read More
If the CFPB Is Found to Be Unconstitutional, Then What? July 19, 2023 Sam Manas The Consumer Financial Services Association of America said courts have “ample means” to protect the mortgage market if the CFPB is found to be unconstitutional.Read More
Short Takes: Business Improves at Western Alliance / Western Asset in Talks With AG Mortgage Investment / New Fix-and-Flip Lender / Freddie Offers Spanish Docs July 19, 2023 Brandon Ivey Officials at Western Alliance Bank stressed that the bank worked to get back to "normal" in the second quarter.Read More
Home Lending Spikes at BofA in Second Quarter July 18, 2023 Paul Muolo At June 30, BofA held $228.8 billion of first-lien residential mortgages on its books. The average yield: 2.98%...Read More
Short Takes: Small Profits / Few Homes for Sale / DBRS Ready to Rate HEI Securitizations July 18, 2023 Brandon Ivey FirstBank's mortgage division generated small profits in May and June.Read More
The Passing of Countrywide Co-Founder Angelo Mozilo July 17, 2023 Paul Muolo Up until the subprime crisis, Mozilo was one of the most admired and well-respected residential lending executives in the nation. Read More
ICE, Black Knight Plan to Sell Off Optimal Blue Business July 17, 2023 Brandon Ivey The FTC recently delayed an evidentiary hearing regarding the planned merger...Read More