NCUA Considering Allowing Sale of MSRs Among Credit Unions December 17, 2020 Brandon Ivey The proposal, if issued, will allow credit unions to purchase MSRs as an investment.Read More
New QM Standards: A Few Wins and Losses for Lenders December 17, 2020 Brandon Ivey QM status will no longer be tied to whether a loan is eligible for sale to the GSEs, potentially prompting a shift toward non-agency mortgages.Read More
Redwood Getting Back on Track with Jumbo MBS December 17, 2020 Brandon Ivey Mortgages from 51 different originators are included in the deal, led by PrimeLending with a 19.9% share... Read More
Coming to the MSR Market Soon: Credit Unions as Buyers? December 16, 2020 Brandon Ivey A proposed rule regarding credit unions and MSRs is scheduled to be discussed late this week at an NCUA board meeting.Read More
Short Takes: Applications: Let it Snow… / FHA Rising / Checking in on the Loan Traders / A $1 Billion Year for Civic / Biden and the GSEs? December 16, 2020 Paul Muolo and Brandon Ivey More than $13.0 billion of non-agency mortgages traded on Maxex’s trading platform in the first 11 months of the year. In all of 2019, $2.7 billion of non-agency product traded on the exchange…Read More
Small-Dollar Mortgage Project in Louisville Generating Mixed Results December 16, 2020 Brandon Ivey The Micro Mortgage allows DTI ratios up to 50% and LTV ratios as high as 105%. Still, the interest rate on the loan has prompted limited demand... Read More
Rising in 3Q: Bank Holdings of First Liens December 15, 2020 Brandon Ivey PlainsCapital plans to retain $30 million to $50 million of mortgages per month...Read More
IO Lending a Bright Spot for Non-Agency in 3Q20 December 14, 2020 Brandon Ivey Nine months through the year, IO production is up 60.0% compared to the same span in 2019...Read More
Starwood Brings MBS with Seasoned Loans for Investment Properties December 14, 2020 Brandon Ivey Close to 40% of loans in the MBS have been in forbearance, but with many returning to current status.Read More
Jumbo Lending by Correspondents Takes a Hit. Reason: Wells Fargo December 14, 2020 Brandon Ivey Even though Wells shut off its correspondent spigot for jumbos early in 2Q20, $1.88 billion of product came through the channel...Read More