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Inside Mortgage Finance

April 26, 2018

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Mortgage Origination Volume Tanked in Early 2018, Hitting Lowest Level in Over Three Years

Production of new first-lien home loans fell sharply in the first quarter of 2018, although the market was not that far off from how it began a year ago. [Includes two data charts.] Read More

Acting FHA Chief Says Disturbing Trends, Indicators Suggest Mortgage Insurer’s Exposure Could Increase

A high-ranking official of the Department of Housing and Urban Development warned of disturbing trends that could increase FHA’s exposure to loss. Read More

The GSE Reform Bust Blues: What Might Mel Watt’s Successor at the FHFA Do to Fannie and Freddie?

Mel Watt has roughly eight more months remaining as director of the Federal Housing Finance Agency, but already the industry is beginning to worry about what possible changes his successor might make to the operations of Fannie Mae and Freddie Mac. Read More

Wells Fargo Fined for Overcharging Mortgage Rate- Lock Commitments, More Penalties May Lie Ahead

Wells Fargo, the nation’s largest mortgage lender, last week agreed to pay $1 billion to settle claims that it overcharged consumers on mortgage rate-lock commitments and force placed collateral-protection insurance on auto loan customers. Read More

Ocwen and Ditech Both Hired New CEOs Recently, but Time May be Running Out for These Struggling Shops

The future used to look bright for Ocwen Financial and Ditech, two publicly traded nonbanks that specialized in “high touch” residential servicing. But over the past four years, both have struggled mightily with losses, regulatory sanctions and shrinking portfolios. Read More

Financing for Fix-and-Flip Efforts Growing, Market Is Seen as More ‘Rational’ than Pre-Crisis Activity

The dollar volume of loans originated for fix-and-flip transactions increased by 27 percent on an annual basis in 2017, according to Attom Data Solutions, a firm that tracks sales deeds. While loan volume and market share are increasing for fix-and-flip financing, industry analysts suggest that the market is more “rational” than it was in the run up to the financial crisis. Read More

MBA Concerned About Impact of Incendiary Politics on State Issues, Calls for Strategies for Needed Changes

The Mortgage Bankers Association this week called upon its members to tailor their state advocacy and lobbying strategies to whatever opportunities they see in the increasingly incendiary political environment. Read More

Use of Mortgage Interest Deduction Expected to Decline Significantly in 2018 with Higher Standard Deduction

The number of taxpayers taking the mortgage interest deduction this year will decline by more than 50 percent compared with 2017, according to new estimates from the federal government. The mortgage interest deduction will be a lot less useful due to a large increase to the standard deduction. Read More

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