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Inside Mortgage Finance

January 23, 2020

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Mortgage Originations Hit Post-Crisis High in 2019

Lenders generated a hefty $2.375 trillion of first-lien home loans last year, the strongest the market’s been since 2006. Volume was up 8% from the third to the fourth quarter, but not all lenders took advantage of the refi wave. (Includes two data charts.) Read More

CFPB’s Plan to Purge DTI From QM Rule Sparks Debate

While the Consumer Financial Protection Bureau’s plan to extend the qualified-mortgage patch was not unexpected, its proposal to eliminate the debt-to-income threshold has sparked a debate. Read More

FSOC Standards for Nonbank Lenders Look Unlikely — for Now

The Financial Stability Oversight Council would have to complete a number of steps before it can subject nonbank lenders and servicers to increased over-sight and prudential standards. Read More

Velocity IPO Gets Lukewarm Reception. Meaning?

The recent IPO of nonprime lender Velocity Financial should pave the way for other like-minded deals. Right? But not so fast. The stock market can be an unforgiving place. Read More

Assessing GSE IPO Fees: $1 Billion is Not Unreasonable

Investment banking firms hoping to land the Fannie/Freddie “re-IPO” con-tract need to convince FHFA’s GSE advisor first. Problem is: We don’t know who the advisor is, at least not yet. We may soon. Read More

Lenders Brace for a Decline in 1Q Originations

Stable interest rates and seasonal trends will lead to a decline in mortgage originations in the first quarter of 2020. Lenders are taking steps to adjust to a reduction in refi business. Read More

Industry Sees TRID Rule as ‘Overly Burdensome’

While industry groups argue the integrated mortgage disclosure rule is overly burdensome for lenders, consumer advocates caution the CFPB from taking any drastic steps. Read More

Reverse Effect of UMBS on Liquidity

Since the launch of the single security, investors have increasingly turned to the use of specified pools rather than the TBA market, said Bob Ryan, a former FHFA official and one of the architects of the UMBS. Read More

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