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Inside Mortgage Finance

May 10, 2018

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Private MI Lost Market Share in Early 2018, But Insurance-in-Force Topped $1 Trillion Mark

Private mortgage insurers reported substantial declines in new insurance written during the first quarter of 2018, losing some market share to both the FHA and VA, according to a new analysis and ranking by Inside Mortgage Finance. [Includes two data charts.] Read More

Freddie Extends an LOC Backed by MSR, Igniting a Debate About Conservatorship Oversight and ‘Charter Creep’

Freddie Mac recently extended a line of credit to an unidentified nonbank seller/servicer, setting off a mini debate about charter creep – and why its regulator approved the initiative in the first place. Read More

CFPB Chooses Not to Appeal PHH RESPA Sec. 8 Ruling But Gives No Clear Signal on Future Policy

Neither PHH Corp. nor the Consumer Financial Protection Bureau will ask the Supreme Court of the United States to review a lower court decision that overturned the agency’s controversial interpretation of anti-kickback provisions in the Real Estate Settlement Procedures Act. Read More

As Originations Slow, Warehouse Providers Face Tight Profit Margins at Some Borrowers and Riskier Credits

The nation’s warehouse providers ended the first quarter with $63.0 billion of commitments on their books, a slight decline from yearend and a gain compared to March 2017, but the numbers mask some of the pain being felt in the sector. [Includes one data chart.] Read More

Lenders, Borrowers Primed for Purchase Mortgages but a Lack of Housing Inventory is Holding Back Originations

Most mortgage lenders have been primed to focus on the home-purchase market and there is plenty of borrower demand, but housing supply remains a sticking point. Read More

Competition for Correspondent Originations Taking its Toll on Lenders, Large Nonbanks Look to Servicing

Margins in the correspondent channel took a hit in the first quarter, according to officials at a number of large lenders. Some nonbanks with significant servicing portfolios are expecting profits to shift to the servicing segment as interest rates increase. Read More

Creators of Freddie’s Controversial IMAGIN Program on the Defense, Explain Misconceptions

A top official at Arch Capital defended Freddie Mac’s new Integrated Mortgage Insurance (IMAGIN) credit-risk transfer program against charges that it creates an unlevel playing field. Read More

Early Look at HMDA Data Reveals Robust Purchase-Mortgage Market in 2017

Federal regulators broke with tradition this week and released annual Home Mortgage Disclosure Act data roughly four months earlier than they have in the past. Read More

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