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Inside Mortgage Finance

December 12, 2019

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Heavy Refinance Activity Slows HEL Market in 3Q19

Analysts say homeowners are sitting on $6.2 trillion of home equity that could be converted to cash. But for many, refinancing is a better choice than a HELOC. (Includes three data charts.)

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Federal Regulators Studying Risks Posed by Nonbanks

The Financial Stability Oversight Council noted the risks posed by nonbank mortgage firms in its latest annual report. But are FSOC's concerns overblown? Trade groups weigh in, as does Treasury Secretary Mnuchin.

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Bulk MSR Sales Lacking. Blame Low Rates? Indeed

Investment bankers that buy and sell mortgage servicing rights are starting to feel like the Maytag repairman. But deal activity is set to improve in the first quarter of 2020, or so they hope.

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Calabria Says He's Reduced GSE Risk. More to Come?

The nation's GSE regulator meets the Federalist Society: “What we’ve been able to do in the eight months that I’ve been here is cut the percentage of business that has multiple risk factors in half."

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FCA Liability Could Expand with Wells/Wachovia Case

A lawsuit involving Wells Fargo, Wachovia and emergency lending facilities by the Fed during the financial crisis has the potential to expand the application of liability under the False Claims Act. An appeals court recently ruled against Wells in the case.

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Senate Panel Gives Monty the Greenlight for Key HUD Post

Industry veteran Brian Montgomery this week moved a little closer to getting the No. 2 job at HUD after the SBC gave him the thumbs-up. Next stop: the full Senate.

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Feds Cautiously OK Use of 'Alt' Data in Underwriting

Financial regulators are backing “responsible use” of alternative data in loan underwriting but there are still many uncertainties, particularly in the world of residential finance. More to come? Indeed.

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Mortgage Grapevine: A Large Bulk MSR Auction to Come? / More $ for Penny

A large bulk MSR auction may be in the works but it won't see the light of day until next year. Meanwhile, executive changes are afoot at a handful of companies.

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

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