Originations of ARMs increased during the third quarter but they didn’t keep pace with total first-lien production, prompting a loss of market share for the sector. Wells remained the top ARM lender. (Includes data chart.)
IO lending increased in the third quarter, with First Republic leading the pack. The bank held nearly $30 billion of IOs in portfolio as of September-end. (Includes data chart.)
Issuance could increase by about 2%, helped by strong demand from investors for vehicle ABS. Loan performance, however, is expected to slip, according to industry analysts.
The review will consider the interplay between the non-agency market and the GSEs and the impact of the exemption for qualified residential mortgages...
The deduction for mortgage insurance premiums and a tax break on forgiven mortgage debt had expired at the end of 2017 while funding for the National Flood Insurance Program was set to elapse on Dec. 20.
What’s so interesting about the Sterling disclosure is that it comes from a bank. For the most part, depositories have shied away from non-QMs unless it’s jumbo product made to wealthy individuals…
Findings by HUD that mortgages with DPA perform worse than other loans fail to include important controls, according to research published by the St. Louis Fed. In other words, downpayment assistance loans aren't so risky after all.