Advanced Search

Volume 2018 - Number 15

April 19, 2018

Subscribers to Inside Mortgage Finance have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.

Nonbanks Gobble Up More of the Agency Servicing Market in Early 2018; Growth Spurts at Ginnie Mae

The steamship that is the nonbank share of the mortgage servicing market showed no signs of changing course in the early months of 2018, a new Inside Mortgage Finance analysis reveals. [Includes two charts.]

Does MB Financial Exit Signal a Shift Toward Industrywide ‘Go Big or Go Home’ Mentality?

Midwest banking giant MB Financial shocked the mortgage market late last week with its decision to exit national lending, citing tight profit margins, lower originations and stiff competition. Now comes the big question: Who’s next?

M&A Market for Mortgage Service Providers Begins Heating Up – With No End in Sight

Not only are several mortgage banking firms exploring sale opportunities these days, but dozens of vendors that serve the industry either have changed hands or are up for grabs as well – with more deals expected in the months ahead.

VA Removes Lender Certification Requirement from New Policy Guidance on Early IRRRL Disclosures

The Department of Veterans Affairs has withdrawn a recent directive to provide lender-certification disclosures as part of early disclosure requirements for Interest Rate Reduction Refinance Loans (IRRRLs).

Industry Groups Divided Over FHFA’s Proposed Options For Credit Scoring Strategies at Fannie and Freddie

The Consumer Federation of America agreed that the FICO score used by Fannie and Freddie is outdated and amounts to a monopoly on scoring. It supports the lender-choice option, but with constraints. The CFA recommended that lenders be required to pick a provider for a minimum period and said the models used by the two government-sponsored enterprises should align with one another.

Verus Increases Mortgage Volume by Focusing on Non-Agency Loans that Many Other Lenders Avoid

Verus Mortgage Capital is boosting its correspondent acquisition volume by focusing on non-agency mortgages, including non-qualified mortgages. The aggregator was founded in 2015 by Invictus Capital Partners, an investment firm based in Washington, DC.

Report Shows Concerns Over Shuffling Of the CFPB’s Fair Lending Functions

Recent structural changes and new priorities at the Consumer Financial Protection Bureau will significantly reduce the bureau’s ability to police discriminatory lending, the Brookings Institute said.

FHFA IG, Lawmakers Voice Concerns Over the FHFA’s Supervision of the GSEs; Call for More Stringent Guidance

The inspector general of the Federal Housing Finance Agency last week said the regulator of the two government-sponsored enterprises should set stricter guidelines for Fannie Mae and Freddie Mac, more like the approach taken by banking regulators.

Mortgage Market at a Glance, April 20, 2018

Weekly mortgage rates and application survey data.

Poll

What’s your opinion on how Mick Mulvaney has managed the CFPB since he took over three months ago?

He’s done a good job of paring back the agency’s excesses and we’d like to see more.

35%

I hope he totally dismantles the agency and sends those functions back to the agencies hence they came.

14%

Not bad, but he needs to take his time making additional changes.

12%

We’re totally aghast. He’s gone way too far in protecting the rights of companies not consumers!

39%