Originations

Browse articles from IMFnews related to Originations.

July 20, 2018 - IMFnews

What We’re Hearing: Not So Fast on Those New Products, Fannie and Freddie / A Flashpoint: Financing a Corporate SF Landlord / Industry Input? / UWM Firing on All Cylinders / Non-QMs? No Thank You / PHH Executive Leaves for Due Diligence Firm

The MBA wants the FHFA to allow the industry to have a say in all new enterprise pilots, programs and products.


July 20, 2018 - IMFnews

Top Lenders Report Solid Increase in Production, but Profit Margins a Major Concern

Rick Sharga of Carrington: “Refi volumes will continue to contract, and lenders will have to accelerate their shift towards more purchase business in order to maintain volume.”


July 20, 2018 - IMFnews

GSE ‘Cross Subsidization’ – Should it Stay or Should it Go?

While the GSEs have been engaging in risk-based pricing for mortgage guarantees since the crisis, very large cross subsidies remain, according to one panelist from the Federal Reserve…


July 20, 2018 - IMFnews

Originations May be Slowing (Compared to 2017) but Investor Demand is Strong

Don Brown of Optimal Blue: The industry is “at or near a high-water mark” in terms of the number of mortgage investors.


July 20, 2018 - IMFnews

A Post-Crisis High for Non-Agency MBS Issuance: $20.7B for 2Q18

Slightly over half were deals backed by newly originated mortgages…


July 19, 2018 - IMFnews

Short Takes: Investors Unite is Not Happy / Are the GSEs ‘Zombie’ Like? / Non-QM Lender Verus Hikes Loan Cap to $5 Million / LoanSnap Raises More Capital / A New Hire for Servicing Advisor MorVest

Of course, there are some in the industry who will argue Fannie and Freddie are hardly zombie-like at all...


July 19, 2018 - IMFnews

CFPB Nominee Kraninger Lays Out Her Priorities

Kraninger also avoided making a commitment to defend the CFPB’s constitutionality...


July 19, 2018 - IMFnews

Six FHLB Presidents Stand Firm on ‘Captives’ Joining the FHLB System

Noticeably absent from the letter: the FHLBs of Chicago and San Francisco…


July 19, 2018 - IMFnews

The Mortgage Industry May Have a DACA Problem. FHA Says Don't Make Loans to Illegals

A HUD spokesman told this news organization that “non-U.S. citizens without lawful residency in the U.S. are not eligible for FHA-insured mortgages.”


July 19, 2018 - IMFnews

Strong Purchase Market in 2Q18 Buoys Mortgage Insurance Firms

FHA officials have fretted about rising DTI ratios for some time…


July 18, 2018 - IMFnews

Short Takes: Maybe Fannie and Freddie were Solvent After All / Something to Think About? / Angel Oak is Busy, Very Busy and Needs Qualified Workers / New Hires / A Strong 2Q for MGIC

The judges opined: "Indeed, the GSEs lost more in 2008 ($108 billion) than they had earned in the previous thirty-seven years combined ($95 billion). Yet the GSEs remained solvent.”


July 18, 2018 - IMFnews

U.S. Bancorp Posts a 10 Percent Gain in Mortgage Production

The Minneapolis-based depository posted $191 million of mortgage banking revenue for the second quarter…


July 18, 2018 - IMFnews

CFPB to Shrink Advisory Group Memberships, Cut Costs by More Than Half

The budget for the three advisory groups will be limited to $150,000 each per year.


July 18, 2018 - IMFnews

MBA Chairman-Elect: Lenders in a Game of ‘Chicken’ on LO Compensation

MBA Chairman-Elect Chris George said the CFPB could make some adjustments to LO comp regulations, providing lenders with more flexibility…


July 18, 2018 - IMFnews

Executives at Online Mortgage Brokerage Firm Top Survey of Nonbank Earners

At times, LendingTree’s share price has been highly volatile…


July 18, 2018 - IMFnews

DOJ Repeals Guidance on Mortgage Shopping. Fair Lending Groups Not Happy…

Attorney General Jeff Sessions: “When issuing regulations, federal agencies must abide by constitutional principles and follow the rules set forth by the Congress and the President.”


July 17, 2018 - IMFnews

Short Takes: The Slow Fade of Banks Continues / False Claims Act Relief on the Way? / A Bank Advertising Mortgages on National TV / The Next Move for Bob Ryan of the FHFA? / Fannie Elects a New Director with a Blockchain Background

Most of the ads we see tend to come from nonbanks such as Quicken, loanDepot and CashCall…


July 17, 2018 - IMFnews

Still Festering: the VA IRRRL ‘Orphan’ Loan Mess

“We want to get more bidders involved,” said MBA’s Pete Mills…


July 17, 2018 - IMFnews

Court Rules FHFA’s Structure Violates the Constitution. But Upholds Treasury Sweep

The court said Congress encased the regulator in layers of insulation, which limits the president’s power to remove and replace the FHFA director...


July 17, 2018 - IMFnews

Despite a Slim Profit Margin, Redfin Hopes to Raise $239 Million by Selling Equity and Debt

The company released an estimate of earnings for the second quarter of 2018, forecasting a profit of $2.6 million to $3.2 million on revenues of about $142.1 million.


July 17, 2018 - IMFnews

Nationstar Reports 2Q18 Results: Income and Servicing Down, Originations Up

Nationstar said it continues to “evaluate significant servicing growth opportunities” and expects to end 2018 with at least $530 billion of MSRs...


July 17, 2018 - IMFnews

Nonprime Mortgage Executive Calls Investor Demand ‘Unlimited’

Some Wall Street firms are now quietly extending repo lines to originators of non-QMs...


July 16, 2018 - IMFnews

Trades Urge Congress to Extend NFIP. NAR Fears Lost Home Sales…

NAR fears a major loss in home sales...


July 16, 2018 - IMFnews

Short Takes: A Change of (Jumbo) Heart at Wells Fargo / An Anti GSE ‘Intifada’? / Looking the Other Way on Charter Creep? / DeMarco for FHFA Director? / Production Official Bolts Movement Mortgage for Union Bank / Correction

Capital Alpha said its choice to be the next FHFA director is Ed DeMarco, who held the job once before...


July 16, 2018 - IMFnews

Non-Agency MBS (Backed by New Production) Hits Another Quarterly Record

Prime jumbo mortgages continue to account for the majority of non-agency MBS issuance…


July 16, 2018 - IMFnews

A 23 Percent Increase in Home Lending for Bank of America

Bank of America no longer breaks out mortgage income separately.


July 16, 2018 - IMFnews

High DTIs and Other Concerns at FHA Give Way to Weekly ‘Triage’ Meetings

Among FHA loans endorsed in April and May, only 41.9 percent were at or below the benchmark DTI test for qualified mortgages, which is 43.0 percent.


July 12, 2018 - IMFnews

Short Takes: FHA in a Hiring Mode / CAIVRS, Old as Dirt? / Likening the GSEs to ‘The Blob’ And His Son / Level One Ponies up to the Mortgage Bar / MSR Auction from The Prestwick Group

One slide in the GSE presentation is entitled, “The Blob and the Return of the Blob,” a reference to the horror movie classics of the late 1950s…


July 12, 2018 - IMFnews

Financial Services Industry Wants ‘Binding’ Guidance from the CFPB

The American Bankers Association argues the CFPB should acknowledge the bureau is bound by the guidance it issues…


July 12, 2018 - IMFnews

PiperJaffray: Lenders are Cutting Costs but It’s Not Enough. LO Pay Must Come Down

Consultant David Lykken said some mortgage bankers believe LO comp is “untouchable,” but he strongly disagrees…


July 12, 2018 - IMFnews

NRL Mortgage Increasing Staff, Will Expand Into New Markets

A retail lender, the Houston-based NRL has increased staff at a branch in Cincinnati by 25 percent this year…


July 12, 2018 - IMFnews

GSE Single-Family Business Up Modestly in 2Q18 as Purchase Market Kicks In

All of the growth in GSE volume came from the purchase-mortgage side of the business…


July 11, 2018 - IMFnews

Short Takes: Show FHA the Money / Blame COBOL / Home Point Lops Off Some Branches / StoneHill Expands / A Key Hire for Equity Prime Mortgage

Home Point Financial, Ann Arbor, MI, said it will “transition” some of its East Coast retail branches to Northpointe Bank...


July 11, 2018 - IMFnews

PMI Analysts Look at Fannie’s New MI Pilot, Wondering If It Poses a Threat

But there’s a catch for lenders: Originators will have to pay an additional loan-level price adjustment…


July 11, 2018 - IMFnews

Verus Affiliate Set to Issue Largest Post-Crisis Nonprime MBS to Date

Roughly 44.6 percent of the loans were underwritten with alternative documentation or bank statements…


July 11, 2018 - IMFnews

New FHA Commissioner Montgomery: Risk-Sharing with PMIs not a Priority

FHA Commissioner Brian Montgomery on risk-sharing with private MI firms: Not an immediate concern…


July 11, 2018 - IMFnews

Moody’s Warns that Non-Agency Underwriting Standards Could Deteriorate

Under the Economic Growth, Regulatory Relief and Consumer Protection Act, banks with less than $10 billion in assets can receive QM treatment for certain loans...


July 11, 2018 - IMFnews

The Fed of New York Likes What it Sees on ‘Fintech’

The Fed report focused on the origination of FHA mortgages, which are generally more risky than loans eligible for sale to GSEs…


July 10, 2018 - IMFnews

Short Takes: Fannie Launches MI Pilot / MBA Reg Counsel Joins Consulting Firm / Non Bank Market Share Grows / FHFA Capital Rule Criticized

Fannie said the new lender option allows the GSE to streamline the operational requirements of participating lenders...


July 10, 2018 - IMFnews

Former Hensarling Aide Johnson Gets Acting Deputy Director Slot at the CFPB

Johnson joined the bureau late last year from the House Financial Services Committee where he held the title of senior counsel.


July 10, 2018 - IMFnews

Flagstar Hires Regions Bank Executive to Head Retail

In the first quarter of 2018, Flagstar funded $7.88 billion of home mortgages, just $960 million of which came through the retail channel...


July 10, 2018 - IMFnews

Purchase Market Springs to Life in 2Q18, Freddie Regains Market Share

The net result was a strong gain in Freddie’s share of the GSE market…


July 10, 2018 - IMFnews

Ditech’s Future: An ‘Asset’ or a ‘Stock’ Sale? Opinions Differ

Of course, Ditech has a bit of back story…


July 10, 2018 - IMFnews

On the Decline: Mortgage and Student Loan Complaints

Gripes against Experian came in at 14,914 over the six-month period…


July 9, 2018 - IMFnews

Short Takes: Those Ginnie Warnings on VA IRRRLs Apparently Worked / The Trump GSE Plan, Going Nowhere? / NJ Lender Launches Call Center in SC / Churchill in a Hiring Mode / Walker & Dunlop Hires Capital Markets Executive

Although loan production is down this year, that isn’t stopping some lenders from moving forward with expansion plans.


July 9, 2018 - IMFnews

CFPB Deputy Director English Announces Resignation. Her Legal Challenge Ends

Last fall, English was named the CFPB’s deputy director by departing Director Richard Cordray...


July 9, 2018 - IMFnews

Agencies Leaning More on the ‘QM Patch’

The share of high-DTI loans has continued to go up this year…


July 6, 2018 - IMFnews

Short Takes: Making Sense of the BLS Mortgage Employment Numbers / Fewer Construction Workers Means… / Budget Scoring and the GSEs. Meaning? / Hey, Maybe Amazon Should buy Impac (CashCall)

So, what’s the big deal? Under FCRA, Fannie and Freddie would add $23.5 billion in revenue to Uncle Sam’s coffers for 2019...


July 6, 2018 - IMFnews

CFPB Set to Implement HMDA Relief Later This Summer

The relief comes from the Dodd-Frank reform act, which was signed into law in May...


July 6, 2018 - IMFnews

DBRS Tops in Rating Non-Agency MBS

Kroll Bond Rating Service moved up from fourth place in 2017 to start this year in second…


Poll

With mortgage production down noticeably this year from 2017, how many lenders might disappear via M&A or failure during the next 12 months?

10% or less. It’s not that bad out there.
11% to 25%. It’s a challenging market.
25% to 40%. It’s going to be very ugly.
No opinion.

vote to see results