Despite Coming Ban, Starwood REIT to Buy Non-QMs with FHLBank Help August 22, 2017 Brandon Ivey Starwood didn’t disclose the volume of non-QMs it has acquired at this point.Read More
Jumbo Lending Increased in 2Q17, but Volume Lagging Last Year’s Pace August 22, 2017 Brandon Ivey Wells Fargo regained the title of the top non-agency jumbo lender in the second quarter, besting Chase…Read More
OCC Sets Process for Banks to Originate Mortgages with LTV Ratios Greater than 100 Percent August 22, 2017 Brandon Ivey The OCC noted that Fannie Mae, Freddie Mac and the FHA all offer loan options aimed at property rehabilitation…Read More
Short Takes: loanDepot’s Hsieh has Some Fun / Fannie’s Forecast / Finance of America Ramps Up Reverses / Jumbo Credit Standards Loosened, Somewhat / New Regional Hires for Silver Hill August 22, 2017 Brandon Ivey and Paul Muolo No update from loanDepot on the IPO, but CEO Anthony Hsieh took some shots at the rumor mill...Read More
A New Tally: Nonconforming Originations Hit $7 Billion in 2Q17 August 21, 2017 Brandon Ivey Our ranking of the nonconforming sector is divided among lenders that specialize in the products and those where it accounts for a small slice of production.Read More
Citadel Offering One-Month Bank Statement Program with Minimum Credit Score of 700 August 17, 2017 Brandon Ivey In its new bank-statement program, Citadel will make mortgages of up to $3 million…Read More
Lenders Starting to Use Webcams to Close Loans August 17, 2017 Brandon Ivey The company is also working with Stewart Title...Read More
RE Crisis Post-Mortem: Home-Price Depreciation a Bigger Driver of Defaults than Unemployment August 15, 2017 Brandon Ivey S&P focused on mortgages originated between the second half of 2005 and the first half of 2008.Read More
California Bank Cuts Mortgage Staff as Refis Decline August 14, 2017 Brandon Ivey Provident noted that overcapacity is putting pressure on origination margins…Read More
With Refi Activity Declining, Some Nonbanks Turn to Non-QMs, Including Nationstar August 10, 2017 Brandon Ivey Non-QMs carry more regulatory risk than conventional loans, but an increasing number of shops are willing to take on the product as refis slump…Read More