Production of loans with FHA, VA and rural housing guaranties held up a little better than the other sectors, with estimated originations slipping 1.0 percent from the fourth quarter.
How disruptive were MSR ‘marks’? The nine nonbank lenders tracked by Inside Mortgage Trends reported a combined $510.0 million loss in the first quarter…
“The QM rule needs to stand on its own two feet … The FHFA should not be in charge of setting national mortgage underwriting,” said MBA chief Dave Stevens.
In the first quarter, 11.2 percent of Fannie/Freddie purchase loans had credit scores below 700 and LTV ratios of 81 percent or higher. That was up from 7.4 percent in the fourth quarter…
Over half (51.1 percent) of VA loans securitized through Ginnie MBS in the first quarter of 2016 were retail originations, but only 39.1 percent of FHA loans came through that channel.
Freddie Mac reduced its portfolio to $339.9 billion at the end of the quarter, a 2.0 percent drop. Like Fannie, the biggest decline in percentage terms was in non-agency MBS…