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Inside Mortgage Finance

November 1, 2018

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Experts Expect Some Effort by Trump FHFA Appointee To Curb GSE Footprint But Not Enough to Roil Markets

Close observers of the politics of housing finance generally expect the next director of the Federal Housing Finance Agency to steer Fannie Mae and Freddie Mac toward a smaller market presence without creating a huge disruption in the industry. Read More

As the Clouds Roll in, Some Lenders Turn to Non-QM; Others Focus on Liquidity and Watching Expenses

With the origination market expected to suffer the next two quarters – at least – some lenders are battening down the hatches, watching expenses, while others are pondering a serious move into non-qualified mortgages, something that wasn’t even on their radar screens two years ago. Read More

Third Quarter was a Barn-Burner for Servicing Sales, but Signs of a Slowdown Amid Strong Prices

The sale of mortgage servicing rights in the secondary market stayed red hot in the third quarter with a whopping $138.9 billion of agency product changing hands, but deal makers believe the market is in for a bit of a breather, at least for a little while. Read More

Second-Tier Servicers Continue to Gain Share in 3Q18, Paced by Strong Nonbank Performance

All three of the banks that rank among the top five servicers in the residential mortgage market reported declines in their portfolios during the third quarter, according to a new Inside Mortgage Finance ranking and analysis. [Includes one data chart.] Read More

Underwriting Standards Loosening as Origination Volume Declines, No Major Concerns About Performance Yet

With refinance volume declining, interest rates rising and home price appreciation cooling off, lenders are loosening underwriting standards. The trends could lead to higher delinquency rates than the pristine performance seen after the recovery from the financial crisis, but there’s not much to worry about at the moment, according to Moody’s Investors Service. Read More

MBA Members Urge CFPB to Relax, Clarify LO Comp Rule to Spur Lender Competition, Help Consumers

The Mortgage Bankers Association is pressing the Consumer Financial Protection Bureau to make reform of the loan-originator compensation rule a top priority. Read More

LIBOR Termination Has Potential to Benefit ARM and Reverse Mortgage Borrowers as Index Shifts to SOFR

Borrowers with adjustable-rate and reverse mortgages may benefit significantly from the phase-out of the London Interbank Offered Rate (LIBOR), according to new research by the Urban Institute. But the news is not so good for investors. Read More

FHFA’s Proposed Rule Consolidates FHLBank Housing Goals, Removes Volume Threshold

The Federal Home Loan Banks may be replacing housing goals that have been in effect since 2011 with a more streamlined single goal that doesn’t set specific targets for the various categories of household income. Read More

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