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Inside Mortgage Finance

September 24, 2020

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Nonbanks & Smaller Firms Grow Market Share in 2Q20

Nonbanks continued to account for a bigger share of the loans produced by the top 100 lenders. But the market has become less consolidated, with smaller firms taking a bigger share. (Includes two data charts.) Read More

UWM Going Public, CEO Vows 50% Share for Brokers

The nation’s largest table-funder, UWM will become a public company via a SPAC. When’s the last time a wholesale-only lender went public? Decades. Read More

Industry Stakeholders Back Fed’s Plan to Revisit CRA

Under the Fed’s framework, which in many ways differs from the OCC’s final rule, a bank’s mortgage lending performance will be evaluated in two ways: a retail test and community development measurement. Read More

Wells Stays Out of the Correspondent Channel for Jumbos

Wells Fargo, which exited the correspondent channel for jumbo mortgages in April, is still not sure if or when it will resume originating the product through the platform. Read More

Industry Against Proposed Legislation to Hike IRRRL Fees

The Mortgage Bankers Association and the National Association of Realtors have urged Congress to stop hiking VA loan-guarantee fees to offset the costs of non-housing programs involving veterans. Read More

A New Hiring Headache Emerges: Underwriter Costs

The origination boom has afforded mortgage bankers record volumes and profits but it has also created an unforeseen headache: underwriters asking for salaries of $150,00 or more. Plus signing bonuses. Read More

Three Amicus Curiae Briefs Filed in Collins v. Mnuchin

After a mixed decision in the Fifth Circuit, it’s not clear how the SCOTUS will rule — especially with the death of Justice Ruth Bader Ginsburg last week. Oral arguments are scheduled for Dec. 9. Read More

Borrowers Missed as Much as $16.3B in Payments in 2Q

More than 5 million borrowers missed mortgage payments during the second quarter, resulting in as much as $16.3 billion in missed collections. Read More

House Reauthorizes NFIP, Now It’s the Senate’s Turn

If the Senate doesn’t act quickly to extend the National Flood Insurance Program, the Federal Emergency Management Agency’s authority to provide new flood insurance contracts will lapse at the end of the month. Read More

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