Originations

Browse articles from IMFnews related to Originations.

November 17, 2017 - IMFnews

What We’re Hearing: A Mystery (for Now): Franklin Codel’s Dismissal at Wells / A Major Changing of the Guard is Afoot / Rick Glass: Only the Strong Will Survive / Mick, Tell us How You Really Feel About the CFPB / Fannie & Freddie CEOs Seem Content…

A major changing of the guard is now afoot in the mortgage industry...


November 17, 2017 - IMFnews

Angel Oak Set to Issue its Third Nonprime MBS of the Year; Bank-Statement Loans 35 Percent of the Collateral

Self-employed borrowers whose incomes were determined with bank statements account for 35.0 percent of the collateral.


November 17, 2017 - IMFnews

Watt Likely Won’t Act on Zero Capital Buffer This Year, but Consensus Forming on a GSE Bill?

Republicans are reportedly on board with the federal MBS guarantee but reluctant to backstop future guarantor entities…


November 16, 2017 - IMFnews

Short Takes: Another Mortgage Trade Group Chief Announces Retirement / Redfin’s Mortgage Arm Growing Slowly / Annaly Executives Continue to Buy Stock / World Debt and U.S. Mortgage Debt / Resitrader’s Growth

Annaly executives have purchased $24.3 million worth of company stock in the open market since 2011...


November 16, 2017 - IMFnews

Academy Mortgage Production EVP Departs

Nemec oversaw a retail network of 250 branches...


November 16, 2017 - IMFnews

House Panel Passes Bill That Would Override State Usury Laws

It remains to be seen whether the language of the bill will be incorporated into the regulatory relief package…


November 16, 2017 - IMFnews

Ginnie Mae President Candidate David Kittle Tells White House He Doesn’t Want the Job

Kittle was first approached by the White House nine months ago about the job.


November 16, 2017 - IMFnews

Lenders Start Your Engines: Texas Loosens Home-Equity Regulations

The proposition revises the strict fee limits that Texas places on home-equity lines…


November 16, 2017 - IMFnews

Conventional-Conforming Market Tapped into Surging Refi Business in 3Q17

Roughly $269 billion of conventional-conforming loans were originated from July through September, according to Inside Mortgage Finance...


November 15, 2017 - IMFnews

CFPB Director Richard Cordray Resigns!

Upon Cordray’s announcement, Rep. Hensarling declared: “We are long overdue for new leadership at the CFPB, a rogue agency that has done more to hurt consumers than help them…”


November 15, 2017 - IMFnews

Mortgage M&A Heats Up, Mid America Inks Deal to Buy Oklahoma Lenders

More M&A deals are expected in the quarters ahead…


November 15, 2017 - IMFnews

The New FHA MMIF Audit is Out, and It’s Not So Hot. Kiss the MIP Cut Goodbye

“By contrast, the 2017 HECM portfolio has a negative capital ratio of 19.84 percent and a negative economic net worth of $14.5 billion,” HUD said in its summary.


November 15, 2017 - IMFnews

MBA Calls for Changes to FHA’s Loan Review System

Lenders have complained about misleading and confusing labels when self-reporting loan defects…


November 15, 2017 - IMFnews

Speculation Mounts: More Banks May Exit Mortgages

Meanwhile, there’s already speculation that Capital One – known for its prowess in credit cards – might eventually re-enter the mortgage business in one way or another.


November 15, 2017 - IMFnews

Chase to Include a Large Amount of Non-QMs in its Latest Jumbo MBS

The new MBS from JPM concentrates on jumbo mortgages. The average loan balance is $952,747.


November 14, 2017 - IMFnews

Short Takes: FHA MMIF Results Due Wednesday / Fannie’s Foray into Construction-to-Perm? / Production Chief Departs / Drones Being Used by Some Mortgage Servicers / A Loss for Invitation Homes

However, a source familiar with the matter stressed that the GSE is merely considering a construction-to-perm product and nothing more.


November 14, 2017 - IMFnews

HMDA Analysis: Higher-Priced Lending Spikes

Some $28.61 billion of non-government-insured higher-priced mortgages were originated in 2016, up 28.9 percent from the previous year…


November 14, 2017 - IMFnews

PIMCO’s Stake in PHH Rises to 15.8 Percent. However…

PIMCO also has been buying non-agency mortgages, holding the paper in one of the funds it manages.


November 14, 2017 - IMFnews

House Panel Begins Markup of Mortgage Bills. ‘Mortgage Choice’ Should Pass…

Also likely to pass: a bill that would exempt from property appraisal requirements a mortgage of $250,000 or less if it appears on the loan creditor’s balance sheet for at least three years…


November 14, 2017 - IMFnews

Tough Times for Reverse Lending as More Players Head for the Exit

Today, just three depositories remain among the top 25 HECM lenders: First Bank (ranked 16th at mid-year), The Federal Savings Bank (19th) and Quontic Bank, FSB (21st).


November 14, 2017 - IMFnews

Correspondent Share of FHA Loans Nears the 49 Percent Mark

Correspondent programs are most dominant in the FHA market, perhaps reflecting a preference among large producers to have recourse…


November 13, 2017 - IMFnews

Short Takes: Time for a Hearing on Why There’s No Housing Inventory / The Russians Invest in Mortgages / Angel Oak’s Latest MBS / A Nonprime REIT? / Eight New LOs for Minnesota MB

Maybe a REIT is the way to go in nonprime...


November 13, 2017 - IMFnews

Nonprime Lenders Aim to Avoid a Mistake of the Past: Risk Layering

Angel Oak Mortgage Solutions, Atlanta, said it has underwriting standards that avoid risk-layering…


November 13, 2017 - IMFnews

CFPB, Ocwen Tit for Tat Continues, Thanks to DOJ

The common thread in both cases is that Ocwen and PHH similarly assert that the CFPB’s structure is unconstitutional.


November 13, 2017 - IMFnews

Invictus Includes Loans Aggregated by Shelter Growth in Latest Nonprime MBS

Mortgages aggregated by Shelter Growth account for 43.5 percent of the collateral.


November 13, 2017 - IMFnews

FHA MMIF Audit Expected to Show Positive Results. As for an MIP Cut, Don’t Bet on It

Keep in mind, that one of the first things HUD did under Trump was to kill a planned MIP reduction...


November 10, 2017 - IMFnews

The Red Ink Kept Flowing at Walter in 3Q17; Revenues Down 15 Percent

Walter CEO Tony Renzi: “Our operating performance is improving in many areas, and we are continuing our financial restructuring efforts…"


November 10, 2017 - IMFnews

As Promised: If the GOP Lowers the Corporate Tax Rate, the GSEs are in Deep Trouble

“A significant reduction in the corporate tax rate would result in a significant net loss, and that could result in a loss for the year,” said Fannie CEO Timothy Mayopoulos…


November 10, 2017 - IMFnews

Senate’s Tax Reform Bill Maintains Higher Limit for Mortgage Interest Deduction but Housing Industry Warns of Other Faults

NAR’s Mendenhall: such provisions “can turn the American Dream into a nightmare for families, as the rug is pulled out from under them.”


November 10, 2017 - IMFnews

Surprise: CMBS Has its Best Issuance Quarter Since 2Q08

Fannie, Freddie and Ginnie continued to dominate multifamily activity…


November 10, 2017 - IMFnews

What We’re Hearing: The Wilbur Ross Story / Tapping Mortgage Expertise / Enter the Phrase ‘Legal Proceedings’ and See What You Find / David Kittle and the Ginnie Mae Job / Reverse Lender has Record Month / A New Hire for Better Mortgage

You might say that Wilbur Ross got out of Ocwen while the getting was good...


November 9, 2017 - IMFnews

Short Takes: $250K a Year in Severance for Impac President / Capital One will Remain in Multifamily / Goldman Wins Fannie Mae Bid / Quicken Gets Some Company at the Top / A New Hire for AmeriFirst

Although Capital One is exiting single-family lending, the bank will continue to provide “specialized" multifamily financing...


November 9, 2017 - IMFnews

Impac Posts Small Profit for 3Q17. Nonbank Says it’s Not for Sale

Impac says it’s not for sale, but sources contend the company is pitched by investment bankers quite frequently…


November 9, 2017 - IMFnews

Private MIs Gained Ground in 3Q17, but VA Shined the Most

Arch MI remained the top private insurer in the third quarter and year-to-date, although its competitors gained some ground…


November 9, 2017 - IMFnews

Digital Use Up, Customer Satisfaction Down. How Can That Be?

Among the key findings: digital use is surging, but not digital satisfaction...


November 9, 2017 - IMFnews

A New Option Emerges: Downpayment ‘Protection’ for the Homebuyer

A spokesman described the new product as “an additional feature not unlike private mortgage insurance” although he refuses to call it an insurance policy…


November 8, 2017 - IMFnews

Short Takes: Angel Oak Rolls Out New Non-QM Product / A Banner Month for Citadel / Radian Says Don’t Worry About Clayton / Tax Overhaul and the MID? Relax / A New Hire for Stearns Lending

A handful of mortgage executives have suggested to us that trade groups are overreacting to the GOP’s tax overhaul plan and the way it treats the mortgage interest deduction...


November 8, 2017 - IMFnews

Ellington Readies First Non-Agency MBS. Loans Supplied by LendSure Mortgage

LendSure has financial backing from Ellington, among other investors…


November 8, 2017 - IMFnews

Treasury’s GSE Plan Still a ‘Work in Progress.' No Balance Sheet Allowed?

A guarantee fund would be developed to cover losses.


November 8, 2017 - IMFnews

Another Quarterly Loss for PHH; Revenues Down Too but New CEO Sees Hope

Despite the red ink, PHH’s board approved a new $100 million share repurchase authorization…


November 8, 2017 - IMFnews

New HMDA Data Privacy Concerns Emerge in Wake of Data Breaches

Heightened concerns have emerged about the effectiveness of the CFPB’s information security systems…


November 8, 2017 - IMFnews

Capital One Will Exit Mortgage Business but will Keep MSR Portfolio

Back in February, Capital One’s Senior Director of Home Loans Eric Declercq left the company for a position at loanDepot.


November 7, 2017 - IMFnews

Short Takes: The ‘Think-Tank’ GSE Hearing / More Red Ink for AAMC / AmeriSave’s New President / A Servicing Milestone for Flagstar / Equity Prime Hires New CFO

Tuesday’s panel discussion has been dubbed the “think tank” hearing because it includes representatives from the Urban Institute, the Milken Institute and American Enterprise Institute…


November 7, 2017 - IMFnews

Long-Time GSE Critic Peter Wallison Doesn’t Disappoint: Kill Fannie and Freddie, He Urges

According to Wallison: “There is nothing about the way the government has managed the housing finance system for the last 50 years that would remotely recommend a continuing government role.”


November 7, 2017 - IMFnews

As Industry Plans for Next Year, Layoffs Commence. CEO Changes Ahead?

Industry consultant Paul Hindman believes more executive changes are likely in the months ahead…


November 7, 2017 - IMFnews

Retail Still the Largest Source of Agency Loans

Correspondents generated 38.8 percent of the market and posted the highest purchase-mortgage concentration, 77.8 percent.


November 7, 2017 - IMFnews

Redwood Increases Jumbo Acquisition Volume, Sees Strong Execution for 'Expanded-Prime'

Redwood Trust plans to issue expanded-prime MBS on a regular basis…


November 7, 2017 - IMFnews

Ocwen Requests Oral Arguments in CFPB Case, Sans Trump’s DOJ

The Trump White House has made it clear that it’s no fan of the CFPB, but the DOJ has yet to weigh in on the case…


November 6, 2017 - IMFnews

Short Takes: Bill Ashmore’s Next Move / Richard Pickup, the Largest Investor in Impac / Weaker Results for PennyMac, the REIT / A New Hire for MBA

PennyMac (the REIT) said third quarter results were also affected by the reduced earnings contribution from "our credit risk transfer investments..."


November 6, 2017 - IMFnews

PennyMac Posts Strong Earnings; Broker Launch Coming Soon

PennyMac estimates by entering the broker space it will gain access to additional 10 percent of the $1.7 trillion loan market.


Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.
No. It’s still difficult compliance/regulatory-wise.
Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

vote to see results