Nonconforming

Browse articles from IMFnews related to Nonconforming.

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

Mortgage REITs Boost Residential MBS Holdings in 3Q17

MBS-investing REITs boosted their holdings by 10.1 percent on a sequential basis…


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 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

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 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

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 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

Surprise: CMBS Has its Best Issuance Quarter Since 2Q08

Fannie, Freddie and Ginnie continued to dominate multifamily activity…


November 9, 2017 - IMFnews

SFIG Details Key Performance Indicators for Deal Agents on Non-Agency MBS

While the concept was introduced more than a year ago, the specific duties for a deal agent remained a work in progress…


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 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 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 3, 2017 - IMFnews

What We’re Hearing: The Mortgage Cycle Turns / PE Firms Ready to Pounce? / Show Mr. Cooper the Door? / Impac in Play? / loanDepot Retail Chief David Norris Departs for Law Enforcement Project / More Nonprime MBS on the Way

Ocwen will not be sold through a stock deal, but Nationstar could be...


November 3, 2017 - IMFnews

After 22 Years as President of Impac, Bill Ashmore Calls it a Day

No immediate successor to Ashmore was named, but whoever the person is they will have to deal with a slumping revenue picture…


November 2, 2017 - IMFnews

Between Multiple Hurricanes and Wild Fires, a Market Develops for a New Breed of ‘Scratch & Dent’ Loans

According to bidders in the market, the early action focuses on loans that are “stuck” on warehouse lines.


November 1, 2017 - IMFnews

Little Change in MBS Characteristics in 3Q17

Flagstar Bank was the top originator of loans that fed prime non-agency MBS in the third quarter…


November 1, 2017 - IMFnews

Redwood Set to Issue its Second ‘Expanded Prime’ MBS, Suggesting Strong Origination-Volume and Investor Demand

The total unpaid principal balance for mortgages backing the deal has yet to be disclosed.


October 31, 2017 - IMFnews

Deephaven Brings New Nonprime MBS with Angel Oak as Top Contributor

It’s Deephaven’s third nonprime MBS deal of the year…


October 31, 2017 - IMFnews

Prime Non-Agency MBS Issuance Catches Fire in October

In the Chase MBS, 44.3 percent of the loans were originated by correspondents…


October 30, 2017 - IMFnews

Sharp Differences in Denial Rates for Jumbos; Some Nonbanks Have Turn-Downs North of 40 Percent

In 2016, the overall denial rate for applications for jumbo mortgages was 18.6 percent.


October 27, 2017 - IMFnews

What We’re Hearing: The Upper Hand on GSE Reform? / Jeb Hensarling, a Candidate for the FHFA Job? / Safe and Sound REITs / A Nice Return on Unsecured Consumer Loans / Dave Stevens Successor? / A Good Year for the Trade Group

But what about Watt? His term as director of the Federal Housing Finance Agency ends in early 2019...


October 27, 2017 - IMFnews

An Earnings Decline for MSR-Hungry New Residential; Servicing Portfolio Drops as Well

During 3Q, New Residential agreed to buy $3 billion of “flow” servicing rights from an unnamed seller.


October 26, 2017 - IMFnews

Short Takes: Ocwen Sale Could Spell Trouble for Indian Workers / Tepid Mortgage Results for Ally / From GMAC to Ocwen to Nationstar / 3Q Results from Radian, Altisource / No Thanks, Mr. Mnuchin

Some history: When GMAC imploded earlier in the decade, some of its GSE servicing rights were sold to Ocwen. Ocwen eventually sold those contracts to Nationstar.


October 26, 2017 - IMFnews

The Mortgage M&A Market Heats Up: Ocwen Prepping for a Sale (of Sorts)

Ocwen very well could be sold through an “asset” sale, observers told Inside Mortgage Finance…


October 25, 2017 - IMFnews

Social Finance (SoFi) is in Play; JPMorgan Chase the Banker

What’s SoFi worth? The market may soon find out…


October 24, 2017 - IMFnews

Short Takes: ‘Zero Capital’ Gets Zero Mention by FHFA Director Watt / Fannie CEO None-Too-Thrilled with ‘Colonial Style’ / Flagstar Cites Sweet Profits from Homebuilder Finance / No Housing Bubble, Says Arch / Capstead Gets a New CFO

Homebuilder finance is booming at Flagstar Bancorp...


October 24, 2017 - IMFnews

Nonbanks Mostly on the Sidelines in the HEL Market

It was thought that Quicken Loans, the nation’s largest nonbank funder, might follow loanDepot’s lead and enter the arena, but so far no...


October 20, 2017 - IMFnews

Non-Mortgage ABS Issuance Tumbled in 3Q17, But…

Bank of America Merrill Lynch and Guggenheim Securities were the top underwriters of business ABS at the three-quarter mark of 2017…


October 19, 2017 - IMFnews

Short Takes: Princeton Mortgage Enters Wholesale Arena / Ocwen Settles with Lone Star State / Stipulations Regarding REALServicing / The Original Trademark / Angel Oak Hires Fund Manager

Ocwen settled with Texas regulators as well...


October 19, 2017 - IMFnews

Ocwen’s Departure from the Wholesale Sparks Speculation: An Eventual Sale?

Ocwen’s recent barrage of regulatory settlements, coupled with the sale of the wholesale division and the recent hiring of investment banker Chris Whalen, is sparking talk...


October 19, 2017 - IMFnews

Mortgage Due Diligence Firms Open to Working Together to Standardize Reporting

Each due diligence firm applies its own interpretation of compliance...


October 18, 2017 - IMFnews

Radian Discloses More Pain from Services Unit (Clayton); Tennyson is Out as President

The MI also terminated Jeff Tennyson as president of the unit. No replacement will be named, a spokeswoman told IMFnews.


October 18, 2017 - IMFnews

Redwood Aims for Jumbos Outside of Banks’ Focus

Redwood’s Choice loan program allows for debt-to-income ratios of up to 49.9 percent while the limit for Select is 43.0 percent…


October 17, 2017 - IMFnews

Short Takes: More Trouble for SoFi & Fintech? / So, Maybe CFPB’s Cordray Won’t Run / Goldman Agrees to Buy Fix-and-Flip Lender / Housing Assistance Council Hires former HUD, USDA Official to Lead the Organization

With fall-out spreading from the turmoil at Social Finance, investors might be thinking twice about so-called “fintech” firms...


October 17, 2017 - IMFnews

Ranked No. 442 as an Originator, Fintech Firm Corrals $457 Million in Financial Commitments

Formed in 2014, LH originated $598 million in 2016, ranking 442nd overall, according to Home Mortgage Disclosure Act figures compiled by Inside Mortgage Finance.


October 17, 2017 - IMFnews

Ocwen Settles With Arkansas, DC, Tennessee; Hatchet Now Buried With 20 Jurisdictions

Investors are still waiting for Ocwen’s biggest outstanding dispute – the one with the CFPB – to be settled, one way or the other.


October 16, 2017 - IMFnews

Citadel Receives Ratings from Morningstar; Look for a Nonprime MBS in January

Morningstar said the company’s underwriting process, quality control and compliance functions were factors in the rankings…


October 16, 2017 - IMFnews

Stearns Lending Reveals it Has a Mortgage Joint Venture with SoFi

Stearns, however, doesn’t service any mortgages for SoFi…


October 16, 2017 - IMFnews

Surprise: Prime Non-Agency MBS Issuance Spiked in the Third Quarter

The nonprime MBS category includes some deals better categorized as Alt A…


October 13, 2017 - IMFnews

Non-Agency MBS Issuance Weakened in 3Q17 Despite Upswing in Prime Jumbo Deals

The bright spot was the prime jumbo MBS market where some $2.97 billion of new bonds were issued during the third quarter…


October 12, 2017 - IMFnews

Short Takes: Residential Production Plunges at Citi / MSR Holdings Down Too / But a Nice Profit for 3Q17 / JPMorgan Readies New Non-Agency MBS / Ocwen Exiting Wholesale Channel / Fannie Announces New NPL Auctions

Citi’s third-party servicing portfolio is down to $49.1 billion from $147.6 billion at Sept. 30, 2016...


October 12, 2017 - IMFnews

Ocwen Settles Servicing Disputes with Two More States

In all of these agreements, Ocwen neither admitted nor denied liability…


October 10, 2017 - IMFnews

Did the Department of Justice Ever Opine in the CFPB Case? Hard to Say…

No one’s talking, and there’s been no indication that the DOJ has even filed a brief in the Ocwen case…


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