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Inside Mortgage Finance

April 12, 2018

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Private MI Loan Volume Down Sharply in 1Q18, FHA Saw Slightly Smaller Decline

Along with nearly all mortgage indicators, the flow of insured home loans into agency mortgage-backed securities slowed significantly during the first quarter of 2018, but early indicators suggest the FHA market may have been somewhat more resilient. [Includes three data charts.] Read More

VA Sends Anti-Churning Rule to OMB, Weighs Risk Sharing, Develops AUS

The Department of Veterans Affairs is close to issuing a final anti-churning rule to better protect veterans from predatory lending practices as well as developing an end-to-end system to monitor loan performance from origination to servicing. Read More

Loan Officer Signing Bonuses Run Rampant in A Tough Market but the Devil is in the Details

With mortgage production coming under pressure in early 2018, some lenders are doing what might seem chancy: paying large signing bonuses to top-producing loan officers. Read More

Fannie Mae Addresses Risk Layering in High-DTI Loans; Analysts Say More Transparency Would Help

Fannie Mae last month tweaked its underwriting system to account for the greater risk in loans with high debt-to-income ratios. Read More

Mulvaney Defends His Leadership of CFPB And Proposals to Remake the Agency

At his first appearance before Congress as acting director of the Consumer Financial Protection Bureau, Mick Mulvaney restated his desire to reform the agency, while defending his leadership from Democrats’ harsh accusations that he is undermining the bureau. Read More

GSE Investor Pershing Square May be Doubling Down Despite Getting Redemption Requests

Pershing Square Holdings, one of the largest speculators in Fannie Mae and Freddie Mac common stock, is doubling down on its investment in the two government-sponsored enterprises by taking a different tack: Instead of increasing its positions in the common, it’s been buying up the junior preferred as well. Read More

Minimal Impact on Housing Market from Tax Reform, Based on Price Trends in Early 2018

Home-price increases continued uninterrupted in early 2018 despite predictions by some industry analysts that tax reform enacted in December could have a negative impact on the housing market. Analysts add that the full impact of tax reform has yet to play out, though early returns look promising. Read More

Teachers’ Union Will Sever Mortgage Ties with Wells Unless Bank Withdraws Support for NRA, Gunmakers

The American Federation of Teachers has threatened to end a mortgage partnership with Wells Fargo unless the bank stops providing support and financial services to the National Rifle Association and gun manufacturers. Read More

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