Browse articles from IMFnews related to Originations.

March 26, 2019 - IMFnews

Short Takes: Stearns Issues Expensive Debt / Counter-Cyclical? Not Always / MSR Impairments a Factor / Alterra Seeks a Controller / CFPB Taking Advisory Board Applications

Usually, mortgage banking is a counter-cyclical business, but not always...

March 26, 2019 - IMFnews

Allow the ‘GSE Patch’ to Expire, Think Tanks Recommend

The CFPB introduced the GSE patch in 2014 as a temporary measure…

March 26, 2019 - IMFnews

MBA Research: A Net Origination Loss of $200 Per Loan in 4Q18

Added MBA’s Walsh: “On the servicing side of the business, mortgage servicing impairments resulting from December’s drop in interest rates hurt profitability.”

March 26, 2019 - IMFnews

Hearings Commence on GSE Reform. NAHB Worries About ‘Administrative’ Changes, Academic Trashes Crapo’s Ideas

Georgetown Law Professor Adam Levitin: “I am deeply concerned about the basic direction of the chairman’s housing-finance reform proposal outline..."

March 26, 2019 - IMFnews

LendingHome Issues $219 Million ABS Backed by Fix-and-Flip Loans

Fix-and-flip loans typically payoff in about seven months...

March 25, 2019 - IMFnews

Short Takes: The Mueller Report, the Legislative Calendar and the GSEs / No Kumbaya Moment Here / Let the Administrative Changes Begin / Better Enters FHA Market / The Market Doesn’t Love Us, So We’re Selling

And that means: two more years of hyper-partisan bickering on both sides and legislation only getting passed if there’s a bi-partisan consensus or a national emergency...

March 25, 2019 - IMFnews

Caliber Affiliate the Latest Issuer to Bring its Second ‘Expanded-Credit’ MBS of the Quarter

The mortgages boast an average credit score of 736...

March 25, 2019 - IMFnews

Fourth Quarter Income Down Sharply for Publicly Traded Nonbanks

Two nonbanks that have been steady earners reported significant losses during the fourth quarter…

March 22, 2019 - IMFnews

What We’re Hearing: Goldman Sachs is Doing What? / A Wall Street Warm Up? / 10.75% Money for Freedom Mortgage / A Grade of B+ / The Green New Deal a More Important Issue than Calabria? / CoreLogic Executive Lands Top Post at Fannie Mae

In the Senate, the 'Green New Deal' is more important than Mark Calabria?

March 22, 2019 - IMFnews

MBS Trading Falters Slightly but Strong Overall

One fact is certain: January and February were not good months for the production of Fannie Mae, Freddie Mac and Ginnie Mae securities.

March 22, 2019 - IMFnews

FHA Lenders Can Opt for Third-Party Verification

The new guidance applies to all FHA forward mortgages and HECMs…

March 22, 2019 - IMFnews

CFPB Makes Changes to Advisory Boards, Reversing Decisions Made by Mulvaney

The bureau plans to extend the terms of half the current members in order to achieve the staggered terms and ensure continuity.

March 22, 2019 - IMFnews

Surprise: Goldman Sachs Aggregating Jumbos and Conforming Loans for Non-Agency MBS

Goldman hasn’t been active in the prime non-agency MBS market except for a one-off deal in 2014.

March 21, 2019 - IMFnews

The Non-QM Bright Spot Continues to Grow

“In 2018, our lending units saw a distinct rise in the popularity and use of non-QM products as more creditworthy borrowers turned to these innovative options,” said Angel Oak’s Michael Fierman…

March 20, 2019 - IMFnews

OCC Fines Citibank $25M for Fair Lending Violations

According to the consent order, between 2011 and 2015, Citi had certain control weaknesses related to its “relationship loan pricing” program...

March 20, 2019 - IMFnews

JPM Pondering Non-QM Finance Opportunities?

“They’ve approached a few lenders,” he said, “and have some others to see.”

March 20, 2019 - IMFnews

Short Takes: Getting the Industry’s Pulse on GSE Reform / Who Gets to Lead? / Why Phillips Didn’t Get the FHFA Job / The Battle for Risk / Selling Shares in Invitation Homes / Radian Names Dave Stevens to Its Board

Who knows more about GSE reform: the White House or Treasury? We get a sense the two parties don't see eye to eye on everything...

March 20, 2019 - IMFnews

VA-Based Nonbank Scuttles Merger with Congressional Bank

Congressional has seven branches and $949.7 million in assets. It earns roughly $16 million a year.

March 19, 2019 - IMFnews

Short Takes: Why the GSE Net Worth Sweep Won’t be Reversed / Recap and Release? / A Much-Watched Profit Reading / Starwood and Impac, a Symbiotic Relationship / Bank Failures, Anyone? / Reverse Lender Hires Sales Chief

Each quarter, GSE profits reduce the federal budget deficit. If that cash is forfeited...

March 19, 2019 - IMFnews

Chimera Readies Another Non-Agency MBS Backed by GSE-Eligible Investment Loans

Some lenders and MBS issuers are seeing better execution for GSE-eligible loans in the non-agency market…

March 19, 2019 - IMFnews

After a Trying 1Q19, Industry Hopes for Better Days Ahead

After trying times in January and February, March was somewhat better and the much ballyhooed spring home buying season should bring some degree of relief.

March 19, 2019 - IMFnews

Strong Growth for Jumbo Servicing in 2018

Wells Fargo, JPMorgan Chase and Bank of America had a combined jumbo servicing market share of 61.4% at yearend, according to figures compiled by Inside Nonconforming Markets…

March 18, 2019 - IMFnews

Short Takes: A New Wave of Optimism? / Value Your CFO / Feds Plan Community Hearings on BB&T-SunTrust Deal / MFA Buying Plenty of Whole Loans. Can An MBS Be Next? / Former HUD Official Pam Patenaude Lands

Mortgage REIT MFA Financial, New York, bought roughly $1 billion worth of loans during the fourth quarter...

March 18, 2019 - IMFnews

Genworth Sale Continues to Drag On, Ninth Waiver Granted

The sale of Genworth was first announced in October, 2016…

March 18, 2019 - IMFnews

GNMA MBS Production Down Sharply in February

Much of the reduced refi business resulted from a 14.8% drop in cash-out transactions...

March 18, 2019 - IMFnews

Worried About Risk, FHA Seeks to Mitigate Decreasing Credit Scores, More…

Changes to the agency’s TOTAL Mortgage Scorecard, go into effect March 18...

March 18, 2019 - IMFnews

Non-QM Lender Angel Oak Quickly Returns to the MBS Market with its Largest Deal Yet

The underlying mortgages have an average credit score of 703...

March 15, 2019 - IMFnews

What We’re Hearing: The Changing of the Guard at the FHFA / A Deep Resume / Retained Capital for Fannie and Freddie, a Matter of When? / The Holy Grail / Impac Mortgage, Act III / FHA Moves to Sure Up its Book

An increase in retained earnings is a pre-cursor to GSE “recap and release,” or as Fannie/Freddie investors call it, the Holy Grail…

March 15, 2019 - IMFnews

FHFA’s Otting in a Position to Bolster the Non-Agency Market

SIFMA’s Daniel Goodwin: “Financial regulators must create a level playing field so that entities like the GSEs do not enjoy capital benefits that add to the tilting of the market…”

March 15, 2019 - IMFnews

A Challenging 4Q18 for Impac; Lender Sells $10.5B of MSRs

In the fourth quarter, Impac’s gain-on-sale margin increased 85 basis points to 203 bps, a reflection of its growing originations of non-QM loans.

March 14, 2019 - IMFnews

Short Takes: Not the Best Written Indictment? (Manafort) / Bought for $3 Million but Worth $8 Million a Few Years Later / Rates Move Lower / Applications Move Higher / PennyMac’s $200 Million Stock Sale / A New Hire for Gateway Mortgage

Thanks to declining interest rates, lenders are feeling more optimistic these days...

March 14, 2019 - IMFnews

Lender Diversity, Inclusion Activities on CFPB’s Radar Screen

The letters refer to the diversity and inclusion standards issued by the agency in 2015...

March 14, 2019 - IMFnews

SBC Chairman Crapo Schedules Two Days of Hearings on GSE Reform

NAR would like to see Fannie and Freddie restructured as tightly regulated shareholder-owned utilities...

March 14, 2019 - IMFnews

Home-Equity Market Sagged in 2018, but Still a Bright Spot

Credit unions reported a 19.5% increase in closed-end second originations from the first half of 2018 to the second half…

March 13, 2019 - IMFnews

Tiered Supervision of Nonbanks Advocated by Trade Groups

Nonbanks in recent years have expanded their presence in the market significantly...

March 13, 2019 - IMFnews

Short Takes: More Non-QM MBS Deals on the Way / What’s Ginnie Mae Really Worried About? / A Big ‘Nothing Burger’? / What Borrowers Want When They Shop Online for a Mortgage / Amherst’s Appetite for SFR / A New Hire for Incenter

Another official described the Ginnie Mae change as a “nothing burger…”

March 13, 2019 - IMFnews

Broker Business Gained Market Share in 2018

Retail’s biggest presence was in the jumbo market…

March 13, 2019 - IMFnews

Freddie Mac’s MBS Business Rebounds in February

Fannie Mae saw its monthly MBS output decline by 18.1% from January…

March 12, 2019 - IMFnews

Short Takes: Banking on a GSE Dividend / Maybe Next Time Around / Democrats Put CFPB Chief Kraninger on the Grill / Home Point Expands Correspondent Presence / A New Creative Hire for Guaranteed Rate

Kraninger faced some tough questions from Sen. Warren...

March 12, 2019 - IMFnews

Sterling Bank and Trust, Citadel Servicing Top Contributors to Oaktree MBS

Sterling will account for 58% of the loans in the MBS, Citadel 23%...

March 11, 2019 - IMFnews

Short Takes: Impac, Better Late Than Never / Wall Street Roots / An Early Start to Spring Home Buying? / Sprague Departs Phoenix Capital for STRATMOR Consultancy

An early start to the spring home buying season?

March 11, 2019 - IMFnews

New Residential Readies Second Non-QM MBS of the Quarter

A number of firms regularly issue one non-QM deal per quarter. Two transactions is less common...

March 8, 2019 - IMFnews

Kraninger Defends Restructure of CFPB’s Fair Lending Office Implemented by Mulvaney

Kathy Kraninger, director of the Consumer Financial Protection Bureau, said she won't reverse the restructure of fair lending office made by former Director Mick Mulvaney

March 7, 2019 - IMFnews

Conforming-Jumbo Volume Drops Sharply in 2018

Lenders delivered $93.54 billion of conventional, FHA and VA mortgages with loan amounts exceeding $453,100 into agency mortgage-backed securities last year, a 23.9% decline from 2017.

March 6, 2019 - IMFnews

Short Takes: Ben Carson to Leave HUD After 2020 Election? / CFPB Hearing / Home Price Appreciation Slows / Mortgage Applications Down / Pinto’s Housing Finance Reform Plan

Housing and Urban Department Secretary Ben Carson said he is planning on leaving his post at the end of President Trump’s first term ...

March 6, 2019 - IMFnews

CFPB Expected to Roll Back 2015 HMDA Rule

The CFPB is likely to propose changes to the mortgage disclosure rule, according to industry observers ...

March 6, 2019 - IMFnews

Trade Groups Again Seek Delay of Accounting Standard Set for 2020

A number of trade groups renewed their request on Tuesday for a delay in implementation of the current expected credit loss accounting standard ...

March 6, 2019 - IMFnews

FHA, VA Delinquency Rates Decline in Fourth Quarter

FHA delinquency rates fell 26.4 basis points between December and January and were down 14.1 bps over an eight-month period ending January, according to the Inside FHA/VA Lending database ...

March 6, 2019 - IMFnews

Final Rule on UMBS Issued; June Launch Date Remains

The Federal Housing Finance Agency last week issued a final rule aimed at improving liquidity of the to-be-announced MBS as well as the new uniform MBS, which makes its debut in early June ...

March 5, 2019 - IMFnews

Short Takes: Freddie Mac Invests $61M in Affordable Housing / AMC Acquires a Title Search Firm / Stevens Joins Tech Company / CFPB Kicks Off PACE Financing Rulemaking

Freddie Mac on Monday initiated three investments in affordable housing managed by National Equity Fund ...


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