Originations

Browse articles from IMFnews related to Originations.

September 19, 2018 - IMFnews

Short Takes: Freddie Talking to Potential MSR Borrowers / Fannie’s New HLTV Refi Option / Plenty of GSE-Eligible Loans in New JPM MBS / LendingTree’s $10k Prize / A New Director at Fannie Mae

On Nov. 1, Fannie Mae will begin accepting applications for its new high loan-to-value ratio refinance product.


September 19, 2018 - IMFnews

Former Goldman Officials Launch Non-QM Wholesaler to Feed its Growing Aggregation Business

Steve Skolnik, an industry veteran with a long career in nonprime lending, was recently hired as CEO…


September 19, 2018 - IMFnews

CFPB Proposes Disclosure Sandbox

The agency specifies that a two-year testing period would be the norm.


September 19, 2018 - IMFnews

Chimera Packs GSE-Eligible Loans on Investment Properties into New Non-Agency MBS; Caliber a Top Contributor

Three nonbank lenders, all owned by PE firms, are key contributors to the deal…


September 19, 2018 - IMFnews

A Surge in Jumbo Correspondent Acquisitions

Jumbo production by correspondent lenders increased by 63.7 percent on a sequential basis…


September 18, 2018 - IMFnews

Slightly Higher Warehouse Commitment Figures Mask Worries About Price Cutting, More…

One manager criticized number-two ranked warehouse provider Texas Capital for the discounts the bank is offering, calling it “the talk of the warehouse community.”


September 18, 2018 - IMFnews

They’re Back: CFPB Advisory Boards (But with Fewer Members)

Two new members of the consumer panel come from the fintech world: Sameh Elamawy, CEO of Scratch, and Manning Field, CEO of Acorns.


September 17, 2018 - IMFnews

Short Takes: MBA’s Stevens Looks Back at the GSEs (Pre-Crisis) / A No-Bid Because of FM Watch Ties / What’s FM Watch? / Sharp Elbows? / TMS Buys Two MSR Packages, Is Hungry for More / PenFed Hires USAA Exec to Run Mortgages

It may be hard to fathom, but Fannie and Freddie once played with very sharp elbows…


September 17, 2018 - IMFnews

Parent of Church Street Mortgage Files to Go Public

If all goes well, the net proceeds will total $20.25 million.


September 17, 2018 - IMFnews

Wanted: Two Semi-Retired CEOs Who Can Run Fannie and Freddie

Then again, maybe needing a CEO is overblown. James Fenkner, a GSE shareholder, told Inside Mortgage Finance: “It is not that the CEOs are paid too little…”


September 17, 2018 - IMFnews

GSE Purchase Business Up Again, but Refis Rise as Well

The refi surge may be attributable to more cash-out transactions.


September 17, 2018 - IMFnews

Wells Fargo Ready to Break its Jumbo MBS Drought

Wells Fargo accounted for 15.0 percent of all jumbo mortgages originated during the first half of 2018…


September 14, 2018 - IMFnews

What We’re Hearing: Freddie Charter Creep? No, Just a Supplemental Service / Caliber Thinking About Going Public? / The Role Das Played in First Data’s Successful IPO / Dimon v. Trump – Bring it On! / Dimon, a Nervous Mess? / New Penn Rolls Out Piggyback HELOC

JPMorgan is the parent company of the nation’s second largest residential lender, Chase. Trump last decade started a small mortgage brokerage operation in Long Island and then killed it...


September 14, 2018 - IMFnews

Questions Linger on Caliber and ‘Full Documentation’

The differences are tied to how the rating services define full documentation.


September 14, 2018 - IMFnews

CFPB Encourages Alternative Consumer Disclosures, Hints at More No-Action Letters

But the program has been a dud...


September 13, 2018 - IMFnews

Short Takes: Late for an Anniversary / GSE Reform: A Solution Searching for a Problem / ClearEdge Lending Ramps Up / Warehousing the Non-QM Market / LendingTree Shareholders Not Smiling Right Now

Silvergate Bank is actively providing warehouse lines of credit to non-QM lenders and we understand that Comerica is now sticking its toe in the water…


September 13, 2018 - IMFnews

Stearns Agrees to Buy Stake in $3.2 Billion Lender as Part of PPP Effort

The pending deal marks the second acquisition in Stearns’ new Preferred Partner Platform initiative…


September 13, 2018 - IMFnews

Growing Quickly, Tech Vendor Blend Names Former Treasury Secretary Jacob Lew to Advisory Board

The number of mortgage lenders using technology from Blend has quadrupled in the past year…


September 13, 2018 - IMFnews

Home-Equity Lending Up Sharply in 2Q18, but Market Far Below Its Potential

Mortgage lenders generated an estimated $54.0 billion of new home-equity loans during the second quarter, up 18.7 percent…


September 13, 2018 - IMFnews

September Issuance of Final FHA Condo Rule Unlikely

So far, the final rule has not been delivered for OMB review, a process that in the past has sometimes taken months to complete.


September 12, 2018 - IMFnews

Short Takes: Wells Fargo’s (Mortgage) Job Cuts / Annaly Poised to Buy More MSRs? / FHFA Seeks Comment / Eight Consecutive Quarters of Feeling Bad About Profit Margins / PenFed Hires a TV Journalist

Annaly may use the proceeds to fund additional acquisitions of mortgage servicing rights…


September 12, 2018 - IMFnews

S&P Estimates $63B of CMBS Exposure to Hurricane Florence

The CMBS transactions with the highest potential exposure are collateralized by shopping malls and office properties in Northern Virginia...


September 12, 2018 - IMFnews

Ginnie Mae MBS Issuance Nudges Higher in August but Trails 2017

Through the first eight months of the year, Ginnie issuance was down 11.0 percent...


September 12, 2018 - IMFnews

A Few Silver Linings in the Origination Downturn: Improved GOS, More MSR Sales

Wedbush estimates that originations will fall by 8.0 percent this year…


September 11, 2018 - IMFnews

Short Takes: What Will Become of the GSEs’ CSP? / How Much Is it Worth? / Capital One Warehouse Joins MBA / Two Utah Nonbanks Celebrate Anniversaries / PRMI Hires Former Wells Fargo LO

The nonprofit exchange must pay for any “property” associated with CSS…


September 11, 2018 - IMFnews

Eager to Buy Jumbos, Redwood Offers a ‘Working Capital’ Option

During the second quarter Redwood deployed $40.0 million in customized financing for nonbanks…


September 11, 2018 - IMFnews

Many Lenders Plan on Keeping Underwriting Standards ‘As Is’

One lender confessed: “I think we’ve been too accepting of credit problems and we are going to start pulling back now…”


September 10, 2018 - IMFnews

Stearns Launches ‘Partnership’ Program, Hopes to Buy Stakes in Many Lenders

Schneider told IMFnews the Blackstone-owned lender/servicer is presently working on other deals...


September 10, 2018 - IMFnews

Short Takes: Time for Executives to Consider Their Options? / Tight Profit Margins Can Lead to ‘Internal Strife’ / AO Seeks Account Executives / Analyzing the Prospects for Filling the Fannie CEO Job / Milken Institute Hires SEC Commissioner

"As a result, at this time I’m receiving a larger volume of calls from execs seeking to explore outside opportunities.” - Rick Glass


September 10, 2018 - IMFnews

Mortgage Bankers Add Jobs, Brokers Trim Slightly

Jerry Selitto, president of Better Mortgage: “We continue to hire and we just opened our second California office in Irvine…”


September 10, 2018 - IMFnews

HECM Production Gets Clocked in 2Q18. A Long Reverse ‘Winter’ Ahead?

Analysts blamed the reduction in volume on the new lower Principal Limit Factors...


September 10, 2018 - IMFnews

Correspondent Channel a Flashpoint in Competitive Jumbo Market

While total jumbo originations among the lenders increased by 37.1 percent on a quarterly basis, correspondent volume was up by 63.7 percent.


September 7, 2018 - IMFnews

Strong Performance for Nonprime Mortgages. 60-Day Delinquencies of Less Than 4 Percent

Fitch views prepayments as a positive credit factor…


September 7, 2018 - IMFnews

What We’re Hearing: Ex-Goldman Partners See Gold in the Subprime Hills / Under the Radar / Strong Non-QM Volumes from Angel Oak and Citadel / The Conventional Loan of the Future: Five Percent Down at Least / DeMarco Weighs In / Signs of Overheating: Home Flipping

Former Federal Housing Finance Agency Acting Director Ed DeMarco told us the bill is a good starting point and includes language that both Democrats and Republicans can agree on...


September 7, 2018 - IMFnews

10 Years After GSE Takeover, Mortgage Execs Weigh In: Leave Fannie and Freddie Alone

Industry consultant Tim Rood said the first rule for GSE reform should be: “Do no harm.”


September 7, 2018 - IMFnews

Non-Agency MBS Issuers Aim for Specificity on Rep-and-Warrant Framework

Alston & Bird: “We’ve all learned the hard way…”


September 7, 2018 - IMFnews

Agency MBS Production Up Again in August. For Purchase Business, a Post-Crisis High

August often sets the high-water mark for annual purchase-loan business for the agencies…


September 6, 2018 - IMFnews

Short Takes: Jeb, Tell Us What You Really Think About Fannie and Freddie / AIG’s New Jumbo MBS / Judge Kavanaugh and the CFPB / Elusive Indeed / A Promotion at Freddie

Never one to mask his complete disdain for Fannie Mae and Freddie Mac, Rep. Jeb Hensarling let it rip...


September 6, 2018 - IMFnews

In His Waning Days as HFSC Chairman, Hensarling Introduces New GSE Reform Bill. (Yes, Really)

One housing lobbyist dismissed the bill as misguided, adding: “This is like someone laying on their death bed after drinking and sinning and finally realizing they need to get baptized.”


September 6, 2018 - IMFnews

Latest Nonprime MBS from Lone Star (Caliber) Stocked with Purchase Mortgages, FRMs

The weighted-average coupon is 6.50 percent.


September 6, 2018 - IMFnews

Fannie Mae Hires Ex-FGMC CEO Andy Peters as ‘Strategy Advisor’

Peters departed First Guaranty Mortgage Corp. earlier this year...


September 6, 2018 - IMFnews

First-Time Buyers Continue Gaining Share in Red-Hot Purchase Market; PMIs Step Up…

The nation’s PMIs have made a significant dent in the first-timer market, insuring a greater volume of mortgages guaranteed by Fannie and Freddie…


September 5, 2018 - IMFnews

Short Takes: That Was Then, This is Now (Fannie/Freddie) / Not Much Traction / Invitation Homes’ SFR Portfolio: 80,000 Rentals / Former FHFA Chief Nominated by Trump / A New Hire for Pavaso

Since 2012, Fannie and Freddie have been minting money...


September 5, 2018 - IMFnews

Blackstone Hires Former Clayton Chief to Head TORO Unit

Blackstone TORO likes to buy non-QM products...


September 5, 2018 - IMFnews

29 Trade Groups and Organizations Ask White House and Congress to ‘Cement’ GSE Progress

The letter – signed by trade groups both large and small – comes a day before the 10th anniversary of the federal takeover of Fannie and Freddie...


September 5, 2018 - IMFnews

Will CFPB Abandon or Limit the Use of Disparate Impact?

Many industry groups said it is problematic to use statistics to determine discrimination...


September 5, 2018 - IMFnews

Mortgage Banking Income at Depositories Held Steady in 2Q18, Call Reports Show

For many depositories, there’s a significant mismatch between their reported mortgage banking income and what’s on their call reports…


September 4, 2018 - IMFnews

Short Takes: Quicken’s Message to Loan Brokers / A Big Gain in Quicken’s Broker Market Share? / Lennar Picks New CEO for its Mortgage Sub / Fintechs Should be in CFPB’s Complaint Database

The marketing message from Quicken goes on to say: “Brokers are taking notice as we’ve doubled our market share over the last year..."


September 4, 2018 - IMFnews

Trades Working on a ‘Don’t Do Anything Rash’ GSE Letter to Treasury

There’s a growing concern about a potential reduction in GSE loan limits…


September 4, 2018 - IMFnews

CHLA Asks IRS to Ensure Nonbanks are Eligible for New Deduction – Just like Banks

CHLA and the Mortgage Bankers Association have cited a number of technical reasons why nonbanks should be eligible for the pass-through deduction.


Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.
The wholesale/table funder. They’re taking the financial risk.
The broker, but only for the first year. After that, the borrower is fair game.
Hard to answer. It’s a complicated issue.

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