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Inside Mortgage Finance

December 7, 2017

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Purchase Mortgages Continued to Dominate Primary Market in 3Q17, But Refinancing Gained Ground

2017 has been the strongest purchase-mortgage market in years and momentum didn’t slow much in the third quarter, but the first-time buyer surge may be weakening. Read More

CFPB Seems to Shift in Mortgage Enforcement Case, Judge is Set to Further Consider English Challenge

Under new management, the Consumer Financial Protection Bureau this week took action that may be a harbinger of a more laissez-faire approach to regulatory enforcement. Read More

A Slow 4Q17 for Servicing Sales but 2018 Could See a Tornado of Activity and New Buyers

For the most part, the sale of bulk mortgage servicing rights has been sluggish during the fourth quarter, but dealmakers are anticipating the torpor may soon end. Read More

Senate Banking Committee Advances Regulatory Relief Package With Substantive Mortgage Reforms

Despite industry worries that the struggle over the leadership of the Consumer Financial Protec-tion Bureau might derail congressional efforts to enact regulatory relief legislation, the Senate Banking, Housing and Urban Affairs Committee did just that this week, with 16 ayes prevailing over seven nays. Read More

New Residential Set to Buy a Bona Fide Mortgage Banking Company – the Beginning of a Trend?

The recent announcement that New Residential Investment Corp. will buy the New Penn mort-gage banking operation of Shellpoint Partners is fueling speculation that more publicly traded real es-tate investment trusts might dive into the business of residential lending. Read More

Senate Tax Reform Bill Spares Servicers but Many in Housing Industry Concerned About Other Provisions

An intensive burst of lobbying helped mortgage servicers avoid adverse consequences in the tax reform bill passed by the Senate late last week. But housing-industry representatives continue to warn that the legislation would lead to home-price reductions and reduce incentives for homeownership. Read More

With Refi Originations Expected to Decline, Lenders Look to Other Products and Ancillary Businesses

Mortgage lenders are looking at new products and new business lines to offset an anticipated 26.0 percent drop in refinance business next year. Read More

Guaranteed Rate Initiates Lawsuit Against Former Mortgage Lending SVP for Talent Raid

Guaranteed Rate is accusing a former top executive of raiding talent at the Chicago-based firm by planning a mass exodus of key employees for a newly launched competitor across town. But Joseph Caltabiano, the company’s former senior vice president of mortgage lending, denies the allegations. Read More

GSE Technology Pilots and Programs Could Harm Primary Market Activity if Not Careful

The Mortgage Bankers Association has raised concerns that new technology projects at Fannie Mae and Freddie Mac could infringe on the primary market – taboo territory for the two government-sponsored enterprises. Read More

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