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July 28, 2017

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Originations Increase Sharply in Second Quarter but Volume in 2017 Still Lags the Pace Set Last Year

Wells Fargo remained the top producer of first-lien mortgages with a hefty 27.1 percent increase from the first quarter, gaining ground on all of its nearest competitors. Read More

Mnuchin Mum on Trump Administration’s Plans for GSE Reform at Hearing

Mnuchin said leaving the GSEs in conservatorship for the next four years “makes no sense.” Read More

Impac Retaining a High Share of its Borrowers Who Refinance

At times in 2016, Impac had a monthly retention percentage as high as 84.0 percent, which Joseph Tomkinson said was a market-leading retention rate. Read More

Ally Financial’s Direct-to-Consumer Mortgage Unit Has Generated ‘Nominal’ Volume thus Far

“While originations to-date have been nominal, we expect a ramp-up production from here as we continue to increase marketing and consumer awareness of the Ally Home offering,” Christopher Halmy said. Read More

Short Takes: Purchase Mortgages Not Replacing Refis / Waters Rejects Revised Flood Insurance Bill / Old Loans in MBS from New Residential / Freddie Sharing Risk on Seasoned Mortgages

A number of lenders have experienced a sharp decline in refinance volume without a meaningful increase in purchase-mortgage originations, according to Jonathan Corr, president and CEO of Ellie Mae. Read More

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