With residential production falling by as much as 20 percent in the fourth quarter, a handful of lenders recently have either pulled out of the retail market entirely or pared back their traditional branch networks. Included in the club of retail quitters are such firms as Ditech Financial – ranked 13th overall in fundings – and Stonegate Mortgage, which began its pullback in November. Also heading for the retail exit is BankUnited, Miami Lakes, FL. All three are...

Although the Consumer Financial Protection Bureau recently issued a “clarifying” letter on errors tied to the so-called TRID integrated disclosure rule, deep concerns remain among originators that fund non-agency product for sale into the secondary market. Moreover, according to interviews conducted by Inside Mortgage Finance over the past week, some nonbank lenders are seeing noticeable increases in origination costs because loans are taking longer to close and therefore remain on warehouse lines for an extended period of time. Because nonbanks fund almost all of their production using warehouse credit, the implication boils down...

It’s not every day that a Federal Home Loan Bank tells one of its members to reduce its credit facilities...

“Turn times are slower and processing times are longer,” said David Frase of Southwest Bank.

“There is a ton of competition out there right now,” said one warehouse manager who works for a top-five firm.

Warehouse banks ended the third quarter with $46.0 billion of commitments on their books, a 4.2 percent sequential decline as residential originations in the primary market slowed and nonbank customers needed less credit. According to survey figures compiled by Inside Mortgage Finance, warehouse commitments at the end of September were up 27.8 percent from the same point in 2014. The quarterly decline was...

Among the firms that have reported their figures to Inside Mortgage Finance are Southwest Bank, which had commitments of $563 million at Sept. 30...

The nation’s largest mortgage investing REIT, Annaly Capital Management, reported a $627 million loss in the third quarter compared to a $900 million profit in 2Q.

Warehouse executives seem optimistic about the immediate outlook for the sector, though some expressed concern how a wave of M&A activity has reduced the number of potential clients.

Angel Oak Mortgage Solutions in Atlanta hopes to price its first-ever nonprime MBS sometime next week – a $150 million bond issued through Nomura Securities, a top Angel Oak executive told Inside MBS & ABS. Mike Fierman, managing partner and CEO of Angel Oak Companies, an affiliate of the lender, said officials have been on an investor road show the past week or so, crisscrossing the country. “Investors love...