FHA & Ginnie Mae

Browse articles from all of our Newsletters related to FHA & Ginnie Mae.

December 12, 2017 - IMFnews

Senate Vote on FHA Nominee Could Come Before Yearend

If Montgomery garners final approval, HUD Secretary Ben Carson will begin tackling key issues, including finalizing new condominium rules, dealing with reverse mortgage losses and more…

December 11, 2017 - IMFnews

Phoenix Capital Auctioning Off Bulk MSR Package

The seller of the MSR package is looking for a final sale date of Jan. 31…

December 11, 2017 - IMFnews

VA Originations Increased by Almost 12 Percent in 3Q17; A Big Gain for Navy Fed

USAA reported a 17.0 percent sequential drop in VA lending while Navy Federal boosted production by an impressive 51.1 percent.

December 8, 2017 - Inside FHA/VA Lending

Around the Industry

FHFA Announces Maximum Conforming Loan Limits for 2018. On Nov. 28, the Federal Housing Finance Agency announced the maximum baseline loan limits in 2018 for one-unit properties, which are increasing to $453,100, and up to $679,650 in most high-cost areas. Loan limits may be higher for Alaska, Hawaii, Guam and the U.S. Virgin Islands. TOTAL Scorecard Database Upgrade Postponed. FHA has postponed its planned upgrade of the TOTAL Scorecard database that was scheduled initially on Nov. 22, 2017. Additional details will be forthcoming. VA Data Collection: Lender Satisfaction Survey. The VA is seeking approval from the Office of Management and Budget to conduct a survey to gauge lender satisfaction with the various aspects of the VA Home Loan Guaranty program. PennyMac Provides Update to FHA DTI Overlay. Previously, PennyMac’s debt-to-income ratio requirements for ...

December 8, 2017 - Inside FHA/VA Lending

VA’s National Portfolio Servicer Farms Out Work to Third Party

Vendor Resource Management, which the VA hired in June to service its nationwide mortgage portfolio and real estate-owned assets, has subcontracted a significant portion of the servicing to BSI Financial Services. According to VRM, BSI took over the servicing of the VA’s national portfolio beginning Dec. 1, 2017. VRM retained the REO servicing. VRM was first awarded the servicing contract in 2012, and the company initially subcontracted Ditech Financial to service VA’s larger national portfolio. The contract was later amended to facilitate a pilot whereby a portion of VA properties would be managed under the award. A new 10-year contract was awarded subsequently to VRM, which became effective on July 1, 2017. Based in Irving, TX, BSI Financial is a loan subservicer and a provider of technology and outsourcing services to banks and institutional investors in the ...

December 8, 2017 - Inside FHA/VA Lending

Senate Vote on FHA Nominee may Occur Before Yearend, Says Source

The Senate could vote on Brian Montgomery’s nomination as FHA commissioner and assistant secretary for housing before the end of the year. The nomination appears to be on a fast track to get Montgomery, a mortgage industry and FHA veteran, on board at the Department of Housing and Urban Development by early January, according to an industry participant who requested anonymity. Last week, the Senate Committee on Banking, Housing and Urban Affairs voted 18 to 5 to advance Montgomery’s nomination. Twelve Republicans and six Democrats voted in favor of the nominee. Sens. Sherrod Brown, D-OH, and Elizabeth Warren, D-MA, opposed Montgomery’s nomination due to concerns that his work as a private consultant with the mortgage industry might influence his judgment as FHA commissioner. Montgomery, a principal with The Collingwood Group, is no stranger to the job. He served as ...

December 8, 2017 - Inside FHA/VA Lending

Rural Purchase Loans Up, Denial Rates High for Rural Minorities

Rural home purchase lending rose for the fifth straight year in 2016 although volume remains below pre-recession levels, according to new research by the Housing Assistance Council based on Home Mortgage Disclosure Act data. HAC, a nonprofit organization that supports and tracks affordable housing efforts in rural areas, estimated that 55 percent of the 1.05 million rural home loans originated last year were first-lien purchase mortgages. The increase was substantial compared to 2012 and 2013, when two-thirds of rural originations involved refinance, the group noted. The U.S. Department of Agriculture guaranteed 9 to 12 percent of all rural home purchase loans originated in each of the last three years, the study found. Of the 16.3 million HMDA submissions by covered institutions, an estimated 2.0 million involved funding for homes in rural or small-town communities, researchers found. While mortgage activity ...

December 8, 2017 - Inside FHA/VA Lending

USDA Loan Guarantees Down Slightly As of End of October

The U.S. Department of Agriculture has provided guarantees to 10,366 rural mortgage loans under its Section 502 Single Family Housing Guarantee program in 2017. As of the end of October, USDA provided $1.5 billion in rural home loan guarantees, down from $1.6 billion (11,678 loans) at the same time last year. In addition, USDA guaranteed more than $55.1 million of loans made under the Section 502 Direct program, which offers mortgages for low- and very low-income homebuyers in rural areas. Borrowers with very low-income account for 36.2 percent of loans under the program. Furthermore, the USDA guaranteed 66 repair-and-rehabilitation loans totaling $385,836, up from this time last year. No grants were obligated in October. For its multifamily housing program, the USDA obligated 188 rural housing vouchers totaling $762,506 as of the end of October. No vouchers were obligated in the ...

December 8, 2017 - Inside FHA/VA Lending

VA Originations Swing Back Up in 3Q17, Purchase Loans Fuel Surge

VA posted an 11.6 percent increase in originations in the third quarter, reversing a downward slide that began in early 2017. VA lenders ended the period with $45.5 billion in new originations, up from $40.8 billion in the previous quarter. The nine-month VA volume totaled $129.1 billion with purchase mortgages providing a strong boost. Streamlined refinancing, or Interest Rate Reduction Refinance Loans, accounted for 16.8 percent of VA loans originated and securitized during the nine-month period. The top five VA lenders in sequential order – USAA, Veterans United Home Loans, Quicken Loans, Navy Federal Credit Union and Freedom Mortgage – ended the third quarter with a combined $11.05 billion in originations and a 24.7 percent share of the market. Top-ranked USAA reported a 17.0 percent drop in VA lending in the third quarter from the previous quarter. Over the nine-month period, it racked up ... [charts]

December 8, 2017 - Inside FHA/VA Lending

FHA to Cease Insuring Loans on Properties with PACE Assessments

FHA this week announced it will stop insuring new mortgages on properties encumbered with a Property Assessed Clean Energy (PACE) lien as part of a larger effort to protect borrowers and the FHA mortgage insurance fund. “FHA can no longer tolerate putting taxpayers at risk by allowing [PACE] obligations to be placed ahead of the mortgage itself in the event of a default,” said Housing and Urban Development Secretary Ben Carson. Carson said PACE assessments are potentially dangerous for the Mutual Mortgage Insurance Fund and could adversely affect a borrower’s ability to repay or refinance their mortgage or sell their home. FHA also expressed concern about PACE obligations having seniority over pre-existing FHA loans that are already outstanding. The post-endorsement placement of PACE assessments on an FHA-insured mortgage creates a lack of transparency, making it difficult for ...

December 8, 2017 - Inside FHA/VA Lending

Congress Passes Short-Term Spending Bill, Avoids Shutdown

Congress on Thursday passed a stopgap-spending bill to prevent a potential government shutdown and to give lawmakers time to negotiate crucial issues. The House voted 235-193 to pass the measure. A short time later, the Senate quickly approved it 81-14. The temporary spending bill will keep the government running through Dec. 22. The continuing resolution or CR, that has kept the government open would have expired on Dec. 8. Both the House and Senate are scheduled to adjourn on Dec. 15. Congress will need to pass a final appropriations bill or another continuing resolution to keep the government operating after Dec. 22. Despite differences over tax reform, FY 2018 budget, immigration, health care and other issues, lawmakers do not want a shutdown, mortgage industry sources said. Republicans, in particular, hope to enact their $1.5 trillion tax package by Christmas. On the other hand, ...

December 8, 2017 - Inside FHA/VA Lending

Rising Home Values Lead to Higher Loan Limits for Forwards, HECMs

FHA this week announced a 6.8 percent increase in loan limits nationwide for 2018 with 26 counties seeing increases above the national rate. In high-cost areas, the loan-limit ceiling will rise to $679,650 from $636,150 in 2017, while the floor will increase to $294,515 from $275,665. In addition, the national mortgage limit for Home Equity Conversion Mortgages (HECMs) or reverse mortgages will rise to $679,650 from $636,150. FHA regulations do not allow HECM loan limits to vary by metropolitan statistical area or county. Instead, the single limit applies to all mortgages regardless of where the property is located, the agency explained. In between the floor and the ceiling is a broad band of loan limits for single-family forward mortgage loans set at 115 percent of median house prices. The forward limits vary according to MSA and county. The changes in the loan limits are the result of ... [ Chart ]

December 8, 2017 - Inside FHA/VA Lending

Ginnie Mae Expands Seasoning Requirement for VA Refi Loans

Ginnie Mae has issued expanded guidelines to protect veterans and investors from harmful loan churning and rapid prepayments in mortgage-backed securities. The changes, along with additional measures under consideration by a joint Ginnie Mae/VA refinance task force, are aimed at ensuring continued strength and liquidity of the Ginnie Mae MBS program, said Michael Bright, the agency’s acting president. The latest guidelines expand on an initial measure Ginnie implemented requiring six-months of seasoning of VA loans before they can be refinanced and delivered into Ginnie MBS pools. However, some lenders have found ways around the measure and have continued their questionable lending practices, said Bright during recent testimony before a House Financial Services subcommittee. Churning is both illegal and unethical because it preys on unsuspecting borrowers, who are pressured by ...

December 8, 2017 - IMFnews

FHA to Halt Insuring Mortgages on Homes with PACE Assessments

The PACE decision follows last month’s release of the annual audit of the Mutual Mortgage Insurance Fund, which showed a decline in economic value…

December 8, 2017 - IMFnews

FHA Unveils New Loan Limits for 2018

FHA regulations currently do not allow HECM loan limits to vary by metropolitan statistical area or county…

December 8, 2017 - IMFnews

Agency MBS Issuance Up Slightly in November. Another Big Month for Freddie

It was Freddie Mac’s second-largest month of the year...

December 7, 2017 - IMFnews

Short Takes: Not Happy with Jeb’s GSE Comments / Lame Duck or Not… / White House Leaning Toward Michael Bright / Granite Ramps Up Commercial Commitments / Dart Hires Finance VP

It's only a matter of time before the White House officially nominates acting Ginnie Mae president Michael Bright to be the permanent head of the agency...

December 7, 2017 - IMFnews

Ginnie Mae Issues New Rules to Stem Loan Churning

Acting Ginnie Mae President Michael Bright also issued a warning that expulsion from the program for “lenders who produce pools with inexplicably fast prepayment speeds” was a distinct possibility.

December 7, 2017 - IMFnews

If Rep. Hensarling Gets His Way, GSE Shareholders Would be Wiped Out

If the Texas Republican gets his way, investment firms including Pershing Square and Fairholme Funds stand to lose the millions of dollars…

December 7, 2017 - IMFnews

Purchase Mortgages Continued to Dominate in 3Q17 but Refis Gained Ground

Agency MBS data indicate that first-time buyers have been key to this year’s surge in purchase-mortgage activity...

December 6, 2017 - IMFnews

HFSC Chairman Hensarling Makes it Official – He’s Open to Idea of U.S. Backing Mortgages, but Still Wants to Kill Fannie and Freddie

However, Hensarling is adamant that the plug be pulled on Fannie Mae and Freddie Mac...

December 1, 2017 - IMFnews

What We’re Hearing: Yes, There’s a Senate GSE Reform Bill in the Works / Acting Ginnie Mae President Has Some MBS Ideas / How Many Loss Positions are There? / The Mulvaney Effect? / Ranieri will Stick Around

Mick Mulvaney has been in charge of the CFPB all week and we’ve yet to hear one prediction that subprime mortgage lending will revive with a vengeance…

December 1, 2017 - IMFnews

Ginnie Mae Acting President Warns: Lenders Could be Kicked out of the Program for ‘Churning’

For lenders that produce pools with inexplicably fast prepayment speeds, removal from the program is not out of the question, said Ginnie Mae's Michael Bright...

November 30, 2017 - IMFnews

Acting Ginnie Mae President Michael Bright Makes His Pitch to Have Ginnie be the Big Kahuna of Government MBS

Industry lobbyists believe one key legislator in favor of the Ginnie concept is House Financial Services Committee chairman Jeb Hensarling, R-TX…

November 30, 2017 - IMFnews

VA and CFPB Issue Warning on Aggressive Refi Solicitations

Acting Ginnie Mae president Michael Bright said the task force is examining critical issues, important data and lender behaviors related to refinancing loans…

November 29, 2017 - IMFnews

Banks and Residential MBS – the Love Affair Continued in 3Q17

Some $25.94 billion of the industry-wide increase was booked by the three largest bank MBS investors…

November 29, 2017 - IMFnews

With Kittle Backing Away from Top Ginnie Job, Michael Bright May be Trump’s Pick

“Basically, David [Kittle] came to the conclusion that it just wasn’t worth the wait,” said one industry lobbyist...

November 27, 2017 - IMFnews

Former FHA Commissioner/Ocwen Director Galante Suggests Raising the FHA Capital Ratio

Galante called for stronger capital reserves that could withstand the level of economic stress of the last recession.

November 22, 2017 - Inside FHA/VA Lending

Around the Industry

House Passes Flood Insurance Bill. On Nov. 14, the House of Representatives passed on a vote of 237 to 189 H.R. 2874, the 21st Century Flood Reform Act, which would reauthorize the National Flood Insurance Program for five years. The program expires on Dec. 8, 2017. In addition, the bill would make changes that would allow private companies to sell not only NFIP coverage but to write and offer their own flood insurance policies as well. The Senate is still negotiating the terms of its own flood insurance bill. Northwest Trustee Sued for Illegal Foreclosure of Servicemembers’ Homes. The Department of Justice is seeking, among other things, monetary damages and civil penalties against a foreclosure trustee for allegedly foreclosing on homes of active members of the US military without proper court order. In a lawsuit filed Nov. 9 in U.S. District Court for the Western District of Washington, the ...

November 22, 2017 - Inside FHA/VA Lending

PennyMac Drops 4506-T Rule but Expects Lenders to Remain Vigilant

PennyMac no longer requires tax transcripts, or IRS Form 4506-T, for delegated FHA and VA programs despite its continuing concerns over income fraud. The lender announced the new guidance on Nov. 13, 2017, and it took effect immediately. It applies to borrowers of FHA, VA and government-sponsored enterprise loans who qualify solely with W-2 wage-earner income and/or fixed income reported on a 1099 form. Meanwhile, tax transcripts will continue to be required for all loan applicants where tax returns are required to document qualifying income and income sources for non-delegated, US Department of Agriculture rural-housing and jumbo loans, said PennyMac. Such requirement includes but is not limited to self-employed borrowers, those earning commissions greater than 25 percent of income and borrowers working for family. The tax transcript requirement may be ...

November 22, 2017 - Inside FHA/VA Lending

Waters’ Proposal to Reinstate Life Of Loan Policy Would Weaken FHA

Congress and the FHA should avoid undertaking policy changes that would further weaken the agency’s ability to cover insurance losses and potentially lead to another taxpayer bailout, according to a recent analysis by The Heritage Foundation. THF analyst John Ligon and Norbert Michel, a research fellow, said FHA policy reforms should ensure that the agency maintains a limited role in the housing finance system. FHA should make way for private capital to enter the market and serve the housing needs of American households, they added. FHA can accomplish such policy goals by lowering its loan limits and adequately pricing insurance for borrower risk, the analysts said. In addition, Congress should ensure that FHA borrowers are required to maintain mortgage insurance over the full life of the loan as required currently by the Department of Housing and Urban Development, said ...

November 22, 2017 - Inside FHA/VA Lending

Nominee for GNMA President Withdraws, Search Continues

Mortgage banker David Kittle, a candidate for Ginnie Mae president, has informed the White House and Housing and Urban Development Secretary Ben Carson that he is no longer interested in the position, according to industry sources. Kittle, a founding partner and vice chairman of the Mortgage Collaborative, an industry vendor, could not be reached for comment. Kittle was first approached by the White House nine months ago about the job. A background check on the potential nominee was reportedly underway but he was never officially nominated. The industry veteran began his mortgage-banking career as a loan officer with American Fletcher Mortgage Co. He is a past chairman of the Mortgage Bankers Association, completing his term in October 2009. A Republican, he also once served as president of the Kentucky Mortgage Bankers Association. Kittle’s withdrawal leaves the ...

November 22, 2017 - Inside FHA/VA Lending

Ginnie Spots Inconsistent Reports Regarding First Payment Date

Ginnie Mae called on issuers to ensure that the data they submit are accurate following the discovery of erroneous payment reports. The agency said it has noticed discrepancies in the reporting of the first payment date on loan modifications in violation of Ginnie guidelines. Specifically, the first payment date some issuers reported as part of the loan-delivery data did not match the date submitted for the same mortgage loan as part of issuers’ monthly report of pool and loan data. Ginnie blamed the errors either on loans set up incorrectly for servicing or faulty data issuers had reported to the Department of Housing and Urban Development. Guidance issued by Ginnie on Nov. 14 reminded issuers to report the first scheduled payment date of the re-amortized loan when reporting the first payment date for modified mortgages through either the GinnieNET or the Reporting and Feedback System. The date ...

November 22, 2017 - Inside FHA/VA Lending

VA Reports Slight Uptick in Use of Loan Benefit; 56% Still Non-Users

A newly released study by the Department of Veterans Affairs showed a 4.0 increase in the number of veterans who have used a VA mortgage in FY 2016 compared to the previous fiscal year. Also, a recent survey conducted by loanDepot found that 56 percent of veterans who participated did not take advantage of their VA loan benefits. Respondents included 400 targeted active servicemembers, veterans and surviving spouses. Conducted by the National Center for Veterans Analysis and Statics, the VA study focused on veterans who have used at least one of 22 benefits or services provided by the VA during fiscal years 2007 through 2016. The study found that loan guarantee was the third most used benefit by veterans behind health care and pensions. Of the 7.1 million vets who used at least one VA benefit, 2.6 million (36.6 percent) took advantage of the zero-downpayment, low-interest ...

November 22, 2017 - Inside FHA/VA Lending

Ex-FHA Chief Suggests Raising FHA Capital Ratio, Other Reforms

A former FHA commissioner has recommended raising the agency’s capital reserve ratio to 3 percent, to make FHA stronger and more resilient. Carol Galante, who served two years as FHA commissioner and assistant secretary for housing in the second term of the Obama administration, laid out her proposal along with other recommendations in a paper that she co-authored. Housing-finance reform without a retooled FHA could threaten families’ access to homeownership and increase risk to taxpayers, contrary to the goals of reform, said Galante, currently the faculty director of the Terner Center for Housing Innovation at University of California Berkeley. In her paper, Mission Critical: Retooling FHA to Meet America’s Housing Needs, Galante spelled out the changes necessary to help FHA perform its complementary and countercyclical role in the nation’s housing markets. Galante called for ...

November 22, 2017 - Inside FHA/VA Lending

Alert Out on Unwanted Refi Offers; CFPB, VA Warn of Misleading Ads

The Department of Veterans Affairs and the Consumer Financial Protection Bureau have issued a joint warning to servicemembers and veterans about VA refinancing offers that sound too good to be true. There is a good chance that borrowers with a VA loan have already received unsolicited offers to refinance their mortgages even just months after closing, the agencies said in their first “warning order” (WARNO). Many of these refi solicitations promise extremely low rates, thousands of dollars in cash back, skipped mortgage payments, no out-of-pocket costs and no waiting period, the agencies noted. The VA and the CFPB said lenders offering VA refinances may use aggressive and potentially misleading advertising and sales tactics. “Lenders may advertise a rate just to get you to respond or you may receive a VA mortgage refi offer that provides limited benefit to you while adding thousands of dollars to your loan balance,” the agencies warned. Even though the VA prohibits a lender from advertising skip payments on ...

November 22, 2017 - Inside FHA/VA Lending

Prospect of FHA MIP Reduction Fades as MMIF Cap Ratio Drops

Any chance of a mortgage-insurance premium reduction in the near future has dimmed in the wake of an actuarial report placing the FHA insurance fund on shakier ground at the end of FY 2017. One clear thing from the report released on Nov. 15 was that FHA’s flagship single-family home mortgage program continued to grow stronger with an economic net worth of $38.4 billion in fiscal 2017. In contrast, problems persisted in the Home Equity Conversion Mortgage portfolio, driving the program’s economic value down by another $6 billion to negative $14.5 billion. The drag HECM losses inflicted on the MMIF has renewed calls to separate the ailing portfolio from the fund, which can only be accomplished by legislation. Right now, the reverse mortgage issue is not even on Congress’ legislative agenda. HECM losses also caused the fund’s economic net worth and capital reserve ratio to decline in fiscal year ...

November 22, 2017 - Inside FHA/VA Lending

FHA Endorsements Rise in 3Q17, Nonbanks Remain Dominant

FHA single-family endorsements rose 2.0 percent in the third quarter from the prior quarter as more borrowers took out purchase loans and nonbanks remained in control of the market during the period. The FHA endorsed $62.1 billion of forward mortgages during the third quarter, which brought total production over the first nine months of 2017 to $182.7 billion (excluding reverse mortgages), a 2.5 percent decline from 2016. Fixed-rate loans continued to comprise nearly all of FHA’s business. Adjustable-rate endorsements totaled $935.3 million for the first nine months of 2017, up from $701.7 million a year ago. FHA purchase activity was up 4.4 percent to $48.5 billion in the third quarter while annual volume increased 2.6 percent from 2016. Purchase loans accounted for 73.6 percent of total FHA endorsements for the nine-month period. Of the $182.7 billion of FHA loans endorsed during the ... [Charts]

November 21, 2017 - IMFnews

FHA’s ‘Tangible Benefit Test’ Might be the Solution to VA’s Churning Problem

However, a tool currently used by FHA appears to be an obvious solution to the churning problem…

November 20, 2017 - IMFnews

Phoenix Announces Two ‘Flow’ MSR Auctions

The Fannie/Freddie receivables would come primarily from California, Florida and Texas.

November 17, 2017 - IMFnews

Pending Tax Reform has MBS Between ‘A Rock and a Hard Place’

If substantial tax reform is enacted, it would likely lead to rising expectations about growth and inflation, leading to a selloff in rates…

November 17, 2017 - IMFnews

Mortgage REITs Boost Residential MBS Holdings in 3Q17

MBS-investing REITs boosted their holdings by 10.1 percent on a sequential basis…

November 16, 2017 - IMFnews

Ginnie Mae President Candidate David Kittle Tells White House He Doesn’t Want the Job

Kittle was first approached by the White House nine months ago about the job.

November 15, 2017 - IMFnews

The New FHA MMIF Audit is Out, and It’s Not So Hot. Kiss the MIP Cut Goodbye

“By contrast, the 2017 HECM portfolio has a negative capital ratio of 19.84 percent and a negative economic net worth of $14.5 billion,” HUD said in its summary.

November 15, 2017 - IMFnews

MBA Calls for Changes to FHA’s Loan Review System

Lenders have complained about misleading and confusing labels when self-reporting loan defects…

November 14, 2017 - IMFnews

Short Takes: FHA MMIF Results Due Wednesday / Fannie’s Foray into Construction-to-Perm? / Production Chief Departs / Drones Being Used by Some Mortgage Servicers / A Loss for Invitation Homes

However, a source familiar with the matter stressed that the GSE is merely considering a construction-to-perm product and nothing more.

November 14, 2017 - IMFnews

Tough Times for Reverse Lending as More Players Head for the Exit

Today, just three depositories remain among the top 25 HECM lenders: First Bank (ranked 16th at mid-year), The Federal Savings Bank (19th) and Quontic Bank, FSB (21st).

November 14, 2017 - IMFnews

Correspondent Share of FHA Loans Nears the 49 Percent Mark

Correspondent programs are most dominant in the FHA market, perhaps reflecting a preference among large producers to have recourse…

November 13, 2017 - IMFnews

FHA MMIF Audit Expected to Show Positive Results. As for an MIP Cut, Don’t Bet on It

Keep in mind, that one of the first things HUD did under Trump was to kill a planned MIP reduction...

November 10, 2017 - Inside FHA/VA Lending

Around the Industry

Maintenance Notice of HUD’s Lender Electronic Assessment Portal and Electronic Appraisal Delivery System. The Department of Housing and Urban Development has announced a systems check for its Lender Electronic Assessment Portal (LEAP) and Electronic Appraisal Delivery (EAD) system as part of routine maintenance. LEAP will be unavailable from 8 a.m. (Eastern), Nov. 10, 2017, through 8 a.m. (eastern), Nov. 12, 2017. During the period, lenders will be unable to submit recertification packages, change requests, notices of material events, or edit institutional data. Normal operations will resume at 8 a.m., Nov. 12. The EAD Integration and Production system is scheduled for regular maintenance and will be unavailable from 12 p.m., Nov. 11, 2017, through 9 p.m., Nov. 12. Operations will resume once systems check is complete. FHA Issues Policy Waiver for Major Disaster Areas in Puerto Rico. The ...


With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.
No. It’s still difficult compliance/regulatory-wise.
Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

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