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January 16, 2018

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Residential Production at Chase Fell 9.2 Percent in 4Q17; Servicing Revenue Nicked

Chase continues to grow the volume of residential whole loans kept on its balance sheet: $197.3 billion at yearend compared to $181.2 billion at the end of 2016. Read More

Wells Fargo Reports Lower Originations for 4Q17, Lower Mortgage Profits and Branch Closings

Thanks to the new bill signed by President Trump, Wells enjoyed a $3.35 billion after tax benefit. However, the company also recorded a $3.25 billion pre-tax expense tied to “litigation accruals for a variety of matters, including mortgage-related regulatory investigations..." Read More

Ginnie Mae MBS Program Faltered in 2017…

The agency – which still doesn’t have a permanent president – issued $443.2 billion of MBS backed by forward single-family mortgages in 2017, a 10.8 percent decline from the previous year. Read More

BB&T to Invest in ‘Fintech’ Companies Including Those with a Mortgage Focus

Banks and nonbanks alike are in a rush to build digital lending platforms that are consumer friendly and result in cost savings... Read More

New Prime Jumbo MBS from Chase Smaller than Previous Deals

In the new MBS, 41.9 percent of the mortgages were eligible for sale to Fannie Mae and Freddie Mac… Read More

Short Takes: GSE Reform, Yes. Passage? No / Galton’s Return to Nonprime / Citi’s Incredibly Shrinking MSR Portfolio / Legislative Reg Relief On the Way? / English Wants Expedited Review in CFPB Appeal

GSE reform may emerge from the Senate Banking Committee, but as for final passage... Read More

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