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Inside Mortgage Finance

September 20, 2018

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Non-Agency Option Dings GSE Conforming-Jumbo Business in 2018, Volume Up in FHA/VA Sector

Improved loan-sale execution in the non-agency market has taken a bite out of the conforming-jumbo business at Fannie Mae and Freddie Mac, a new Inside Mortgage Finance analysis reveals. [Includes three data charts.] Read More

MBA Raises Concerns as Freddie Launches Second Phase of Controversial MSR-Financing Pilot

Freddie Mac’s pilot program to extend lines of credit collateralized by mortgage servicing rights kicked into its second phase this month with the mortgage giant finding itself playing defense as the cries of “charter creep” continued to grow louder. Read More

It’s Been Five Years Since a Nonbank Lender Pulled Off an Initial Public Offering of Stock

Private equity firms hoping to cash out their ownership stakes in nonbank lenders via an initial public offering of stock will have to wait a little longer, thanks to a tough origination market and institutional investor interest that lies elsewhere. Read More

Wells Expects Originations in Third Quarter to Be In Line with 2Q, Continued Pressure on Margins

Originations at the largest U.S. mortgage lender in the third quarter will look a lot like production in the previous quarter, according to John Shrewsberry, a senior executive vice president and chief financial officer at Wells Fargo. Read More

Inspector General Says GSE Appraisal Waiver Program Poses Little Risk to Housing Market

Although some industry members have voiced concerns over appraisal waivers offered by Fannie Mae and Freddie Mac, the Federal Housing Finance Agency Office of Inspector General said the risk is minimal. Only a small portion of loans are actually eligible for the waiver and the FHFA said it’s closely monitoring the program. Read More

Industry Participants Laud Passage of ‘Orphan’ VA Loan Bill but Some Doubt It Will Be Enacted

The mortgage industry welcomed legislation passed by the House Financial Services Committee last week to clarify the seasoning requirements of certain VA streamlined mortgage loans and resolve the problem of VA “orphan” loans. Read More

Mortgage Fraud Increased in Past Two Years, Income and Employer Misrepresentation Most Common

Mortgage fraud is a growing problem, especially income misrepresentation, according to a recent CoreLogic report. All loan segments showed increased risks, except for the jumbo loan segment, which actually witnessed a decline in application fraud. Read More

Mortgage Attorneys Embrace Clarity on Status of Regulatory Guidance, But Hope for More

Five regulators, including the Consumer Financial Protection Bureau, recently clarified that supervisory guidance is not regulation and won’t be the sole basis for enforcement actions. Industry attorneys said the statement would benefit the mortgage industry overall, but lenders still need more guidance to help with tricky compliance issues. Read More

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