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Inside Mortgage Finance

June 25, 2020

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CFPB Proposes Moving QM Status Away from GSE Ambit

The CFPB wants to base QM status on a pricing metric rather than approval by the GSEs. Most mortgages would remain QMs but some business could shift to the non-agency market. Read More

Banks Lose Share in 1Q20 Primary Mortgage Market

Nonbanks accounted for a record 63% of production by the top 100 lenders in the first quarter. Meanwhile, industry economists project a sharp drop in volume in the third quarter. (Includes two data charts.) Read More

Tight Warehouse Credit, BNYM Snafu Hurts Nonbanks

Until mid-month, many nonbanks were writing loans hand-over-fist, but warehouse capacity in the COVID-19 era is running low. Also, there’s a snafu at BNY Mellon. Read More

MBS Continue to Gobble up Servicing Share in 1Q20

Banks and thrifts continued to cede share in the servicing of single-family MBS to nonbanks. The retained portfolios of depository institutions grew at half the rate of overall mortgage debt outstanding. (Includes two data charts.) Read More

Industry Groups in Favor of Allowing New FHLB Entrants

Nonbank lenders and mortgage real estate investment trusts stand to gain from expanding the eligibility requirement for FHLBank membership, according to industry comment letters. Read More

Rock Bottom Rates Spark a Rush to Hedge MSRs

To hedge MSRs or not to hedge? That’s the question of the day. It appears that many shops, including the top-ranked Mr. Cooper, are getting in line. Read More

CFPB Examining Servicers’ Pandemic-Related Activities

The CFPB is allocating significant supervisory resources to learn about programs servicers are offering borrowers and policies that have been enacted. Read More

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