Lenders generated a hefty $2.375 trillion of first-lien home loans last year, the strongest the market’s been since 2006. Volume was up 8% from the third to the fourth quarter, but not all lenders took advantage of the refi wave. (Includes two data charts.) Read More
While the Consumer Financial Protection Bureau’s plan to extend the qualified-mortgage patch was not unexpected, its proposal to eliminate the debt-to-income threshold has sparked a debate. Read More
The Financial Stability Oversight Council would have to complete a number of steps before it can subject nonbank lenders and servicers to increased over-sight and prudential standards. Read More
The recent IPO of nonprime lender Velocity Financial should pave the way for other like-minded deals. Right? But not so fast. The stock market can be an unforgiving place. Read More
Investment banking firms hoping to land the Fannie/Freddie “re-IPO” con-tract need to convince FHFA’s GSE advisor first. Problem is: We don’t know who the advisor is, at least not yet. We may soon. Read More
Stable interest rates and seasonal trends will lead to a decline in mortgage originations in the first quarter of 2020. Lenders are taking steps to adjust to a reduction in refi business. Read More
While industry groups argue the integrated mortgage disclosure rule is overly burdensome for lenders, consumer advocates caution the CFPB from taking any drastic steps. Read More
Since the launch of the single security, investors have increasingly turned to the use of specified pools rather than the TBA market, said Bob Ryan, a former FHFA official and one of the architects of the UMBS. Read More