Movement Mortgage Jumps Ahead With Newer FICO Model October 5, 2023 Brandon Ivey While FICO 10 T won't be used for GSE mortgages for some time, Movement will use the scoring model for non-agency mortgages.Read More
Short Takes: Rate Locks Decline / MBA’s PAC Grows / Das Lands at Pagaya / Another Large MBS From Invictus October 5, 2023 Brandon Ivey Rate locks were down across mortgage products in September, including a large drop in cash-out refis.Read More
Home Equity Lending Up 13% in 2Q23 October 2, 2023 Brandon Ivey The top three home equity lenders in 2Q23: Bank of America, Citizens Bank and PNC...Read More
Fitch Leads Non-Agency MBS Ratings in Second Quarter September 29, 2023 John Bancroft Fitch and DBRS weathered the sharp drop in rated non-agency MBS issuance better than their competitors.Read More
Former Civic Leader Launches New Business-Purpose Lender September 29, 2023 James Dohnert The team that transitioned from Civic Financial Services to CV3 accounted for 90% of Civic’s estimated $3 billion loan production in 2022.Read More
Short Takes: Interest Rates Up / Still Expected to Come Down / Annaly Offers Non-QM MBS September 29, 2023 Brandon Ivey Interest rates on mortgages hit a level last seen in 2000.Read More
Chase Tops Wells in First-Lien Holdings September 28, 2023 James Dohnert Overall, banks and thrifts held $2.491 trillion of first-lien mortgages at the end of June, up 0.7% from March.Read More
Short Takes: Rithm Goes Big With Non-QM MBS / Chase Stocks MBS With HELOCs From Nonbanks / HUD Funding Homeownership Research September 28, 2023 Brandon Ivey Rithm Capital is preparing to issue a $669.9 million expanded-credit MBS.Read More
FDIC Self-Reflects on First Republic Failure September 27, 2023 James Dohnert FDIC examiners determined that the bank could have done more to encourage new borrowers to sign up for adjustable-rate mortgages.Read More
Retail Channel Driving Jumbo Originations September 26, 2023 Brandon Ivey Retail lending accounted for 85.9% of jumbo originations in the first half of 2023, among a group of prominent lenders surveyed by Inside Nonconforming Markets.Read More
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