Market Data
Browse articles from all of our Newsletters related to Market Data.
June 15, 2018 - Inside FHA/VA Lending
USDA Securitization Fell in 1Q18, PennyMac Grabs Market Lead
Issuance of mortgage securities backed by USDA loans dropped during the first three months of 2018. Approximately $4.03 billion of rural housing loans with a USDA guarantee were delivered in Ginnie Mae MBS during the first quarter, down 18.3 percent from the previous quarter. Agency data also showed an 11.7 percent decline in USDA securitization volume from the same period a year ago. Rural housing loans accounted for 1.5 percent of all loans securitized in Fannie Mae, Freddie Mac and Ginnie Mae pools and 2.8 percent of loans with private or government-backed mortgage insurance. Purchase loans comprised the bulk of USDA loans that were delivered into Ginnie MBS pools. PennyMac knocked Freedom Mortgage out of first place with a total of $753.3 million in securitized USDA loans despite a 10.4 percent decline in production. Freedom Mortgage accounted for $523.3 million of USDA loans pooled in ... [Charts]
June 15, 2018 - Inside FHA/VA Lending
HECM Originations Rise in 1Q18, Draw Cut Slows HMBS Issuance
Reverse mortgage lenders started out strong in the first three month of 2018 with a 19.2 percent increase in Home Equity Conversion Mortgage production from the previous period. HECM endorsements totaled $5.4 billion in the first quarter, with purchase reverse loans accounting for the bulk of originations, 81.9 percent. First quarter production was up 18.5 percent from the same period last year. Meanwhile, HECM mortgage-backed securities issuance totaled $2.97 billion for the quarter, down from $3.25 billion in the prior quarter, Ginnie Mae data showed. The top five HECM originators in sequential order – American Advisors Group, Reverse Mortgage Funding, One Reverse Mortgage, Liberty Home Equity Solutions, and Synergy One Lending – accounted for $1.66 billion, or 30.8 percent, of total production during the first quarter. American Advisors maintained its top ranking with $841.4 million of HECM loans, which ... [Charts]
June 15, 2018 - IMFnews
It’s official: The Treasury Department’s goal is to reduce the footprint of Fannie Mae and Freddie Mac. Who says so? Treasury counselor Craig Phillips...
June 15, 2018 - IMFnews
CFPB Doesn’t Have to Make Complaints Public. However…
The CFPB is considering cutting off public access to the complaint database, which was launched in 2012 under former Director Richard Cordray.
June 15, 2018 - IMFnews
MBS Outstanding on a Steady Growth Track. Ginnie MBS Balance: $1.83 Trillion
Year over year, MBS outstanding grew by 4.8 percent, according to a new tally from Inside MBS & ABS…
June 14, 2018 - IMFnews
Jumbo Mortgage Production Down Sharply in First Quarter
Wells Fargo ranked first among non-agency jumbo originators, followed by Chase and Bank of America…
June 13, 2018 - IMFnews
MBS Business Up Modestly, but GSE Credit Box Unchanged
In the first quarter, average credit scores on purchase mortgages were virtually unchanged…
June 12, 2018 - IMFnews
Retail Channel Gained Share in Some Markets
Mortgage brokers actually gained some share in the government market…
June 11, 2018 - IMFnews
Bank MSR Holdings Decline Again in 1Q18, but Valuations Hit Record High
Banks have been reducing their servicing for others since late 2009…
June 8, 2018 - IMFnews
So Much Home Equity, But Not Much Lending. Reason: Tight Underwriting
Home equity outstanding hit a peak of $13.43 trillion in the first quarter of 2006 then tumbled during the financial crisis...
June 8, 2018 - IMFnews
On the Rise Again: Agency Single-Family MBS Issuance
All three agencies saw gains from April volume with Fannie posting the biggest increase…
June 7, 2018 - IMFnews
Home-Equity Lending Starts the Year on a Flat Note
Bank of America once again ranked first in terms of new HELOC commitments, according to Inside Mortgage Finance…
June 6, 2018 - IMFnews
Lenders Lost Money on Originations in 1Q18; Servicing to the Rescue…
Personnel expenses averaged $5,899 per loan in 1Q18 compared to $5,560 in the fourth quarter, up 5.7 percent…
June 6, 2018 - IMFnews
Ditech Posts $467 Million Profit for 1Q18 – Thanks to BK Filing and Debt Cancellation
Ditech CEO Tom Marano: “I am pleased with the improving performance of our servicing business; however, I am disappointed with the performance of the origination business...”
June 5, 2018 - IMFnews
Despite Production Decline, FTHB Market Expected to Remain Robust
The number of first-time homebuyers has increased 50 percent over four years…
June 5, 2018 - IMFnews
Tepid Increase in Subservicing Contracts During 1Q18
“There could be some sector consolidation down the road,” noted Allen Price, senior vice president in charge of business development for RoundPoint Mortgage…
June 4, 2018 - IMFnews
Mortgage Brokers Gain Ground in Government-Insured Market
Correspondent production remained the biggest source of FHA/VA loans, accounting for 53.5 percent of the survey sample…
June 4, 2018 - IMFnews
HMDA: Purchase Share of Jumbos Increased in 2017
Meanwhile, Guaranteed Rate, Flagstar and HomeBridge Financial more than doubled their jumbo lending in 2017...
June 1, 2018 - Inside FHA/VA Lending
California, Florida, Texas Lead in Deliveries to Securitization Pools
California continued to lead all states in FHA and VA mortgage securitization in the first three months of 2018. The Golden State accounted for 15.3 percent of the $50.6 billion of FHA loans delivered into Ginnie Mae mortgage-backed securities in the first quarter. FHA loans comprised 18.2 percent of loans securitized by Fannie Mae, Freddie Mac and Ginnie Mae, and 34.6 percent of agency-securitized loans with primary mortgage insurance. About 66.6 percent of FHA loans securitized during the period were for purchase mortgages while refinance loans accounted for 27.5 percent. The average loan-to-value ratio of FHA loans in Ginnie pools was 93.0 percent. The average credit score of 668.2 reflected FHA’s traditional base of lower-income and first-time homebuyers, with an average debt-to-income ratio of 42.4 percent. The other states among the top five in terms of FHA deliveries into Ginnie pools were ... [Chart]
June 1, 2018 - Inside FHA/VA Lending
S. 2155 Provides Protections to VA Borrowers; VA Issues Guidance
Provisions to protect VA borrowers from abusive lending are now in effect after President Trump signed into law a broad regulatory relief package last week. The VA measures are part of S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018, which the U.S. Senate passed on March 14 and the House approved on May 22. The bipartisan measures became effective for VA loan applications taken on or after May 25, 2018. They were part of the bipartisan Protecting Veterans from Predatory Lending Act, which Sens. Thom Tillis, R-NC, and Elizabeth Warren, D-MA, introduced in January and later incorporated in S. 2155. The bill was designed to protect VA borrowers from loan churning or serial refinancing and specifically targeted the VA’s Interest Rate Reduction Refinance Loan program, where the churned VA loans ended up. According to the agency, such practices not ...
June 1, 2018 - IMFnews
CFPB to Resume Collection of Private Consumer Data
CFPB’s Mick Mulvaney: “Today, after an exhaustive review by outside experts, including a comprehensive ‘white-hat hacking’ effort, we can lift that hold.”
June 1, 2018 - IMFnews
Fannie/Freddie Credit-Risk Transfer Machines Keeping Churning Out New Deals…
The surge in CRT debt issuance came during a time when new MBS production for the GSEs sank by 19.3 percent.
May 31, 2018 - IMFnews
First-Time Buyer Share of Purchase-Mortgage Market Up in Early 2018
First-time buyers continue to fight the challenges of rising house prices, higher interest rates and depleted inventory…
May 30, 2018 - IMFnews
The Beat Goes On: GSE Credit Scores Much Higher Than on Ginnie Product
During the first quarter, the average credit score at Fannie Mae was 741.15, slightly below the average 744.73 at Freddie Mac.
May 29, 2018 - IMFnews
More Big Swings in GSE Single-Family MBS Business in April
However, Freddie still has some catching up to do to reach the 40.2 percent GSE share it had last year.
May 25, 2018 - IMFnews
Bank Holdings of ABS Increase Slightly in First Quarter
The biggest factor in the small uptick was the significant growth in the two largest ABS portfolios in the industry...
May 24, 2018 - IMFnews
Correspondent Channel Gains Market Share as Originations Decline
The correspondent channel accounted for 32.9 percent of total first-lien originations, up from a 32.4 percent share the previous quarter.
May 22, 2018 - IMFnews
FVA, VA Lending Down in First Quarter with Some Variations in Refi Business
Most of the decline in FHA business was in purchase-mortgage lending while VA business took a hit due to reductions in the Interest Rate Reduction Refinance Loan program.
May 16, 2018 - IMFnews
Mortgage Performance Improves in First Quarter; But FHA/VA Delinquencies Increase on an Annual Basis
The higher delinquency rates on FHA/VA loans are likely tied to hurricanes that struck select markets last fall.
May 16, 2018 - IMFnews
Provident and Stearns Lending Lost Money in 2017: Moody’s
Moody’s detailed profitability levels for four large private nonbanks: Freedom Mortgage, Provident Funding Associates, Quicken Loans and Stearns Lending.
May 15, 2018 - IMFnews
As Originations Slow, Warehouse Providers Face Tight Profit Margins, Riskier Credits
According to a tally by Inside Mortgage Finance, few warehouse providers bucked the trend of falling commitments.
May 14, 2018 - IMFnews
GSE Credit Window for Purchase Loans Opened Slightly in 1Q18
In the first quarter, 12.61 percent of purchase loans sold to the GSEs fell into the highest risk category…
May 11, 2018 - Inside The GSEs
Fannie Mae and Freddie Mac Report Strong $7.2B Profit in 1Q
GSE earnings bounced back to a profitable status, as expected, in the first quarter, with Fannie Mae and Freddie Mac reporting a combined $7.2 billion profit. That number is up from the $9.4 billion earnings hit the GSEs took last quarter due to tax reform that went into effect in December 2017. [Includes one chart.]
May 11, 2018 - IMFnews
What Ails the Mortgage Market? For Starters, a Lack of Homes to Buy…
Flagstar says the problem is exacerbated by a lack of inventory in certain geographic markets…
May 11, 2018 - IMFnews
REITs Pull Back from MBS Investments Ever So Slightly
It’s not clear if the REIT sector will amp up its participation in credit-risk transfer deals offered by Fannie Mae and Freddie Mac…
May 10, 2018 - IMFnews
Private MIs Lost Market Share in Early 2018 but Insurance in Force Topped $1 Trillion
Arch maintained its large market share lead in insurance-in-force, while Radian ranked first in terms of new insurance written…
May 9, 2018 - IMFnews
It was a nice pay check last year for LendingTree founder and CEO Douglas Lebda...
May 9, 2018 - IMFnews
Another Quarter and More Red Ink for PHH Corp.
PHH CEO Robert Crowl: "Our team is fully committed to executing our business plans and meeting the closing requirements for our merger with Ocwen."
May 9, 2018 - IMFnews
Retail, Mortgage Brokers Dominate in Expanded-Credit Lending
MBS from Angel Oak Companies had the highest share of broker originations…
May 8, 2018 - IMFnews
Risk Factors Creep Higher in FHA and VA Loans During Early 2018
The average credit score for FHA loans in Ginnie MBS issued during the first quarter was 671.1, the lowest level since the agency began reporting loan-level data…
May 8, 2018 - IMFnews
Origination Profit Margins Stay Ugly. Is Relief on the Way?
One consultant said he’s conducted 14 warehouse reviews on lenders this year with 11 of them turning a profit and three losing money.
May 4, 2018 - Inside FHA/VA Lending
BPMI Premium Cuts Could Draw Sterling Borrowers Away from FHA
Actions by a number of private mortgage insurers to cut borrower-paid premium rates would enhance affordability and enable private MIs to increase their market share at FHA’s expense, according to an analysis from the Urban Institute. So far, Mortgage Guaranty Insurance Corp., Genworth Mortgage Insurance and Radian Guaranty have announced reductions in their respective monthly and single-premium borrower-paid premium rates. The premium cuts will affect more than just affordability, said UI. On March 6, the company announced that it is reducing borrower-paid single-premium rates in most FICO buckets, effective for all MI applications received on or after March 19, 2018. The Philadelphia-based MI also reminded clients that previously announced single-premium restrictions on debt-to-income ratios exceeding 45 percent and a FICO score below 700, or DTI exceeding ...
May 4, 2018 - Inside FHA/VA Lending
Low-Income, Minority Borrowers Steered to FHA by Adverse Factors
Many low-income and minority borrowers are forced into FHA loans by risk-based pricing and overlays in the conventional market, only to be stymied by higher FHA premiums and non-cancellable mortgage insurance premiums, according to a new study from the Center for Responsible Lending. The study, “Repairing a Two-Tiered System: The Crucial but Complex Role of FHA,” examines FHA’s pre- and post-crisis lending to white and minority borrowers. It also evaluates the impact of risk-based and FHA pricing as well as the impact of False Claims Act enforcement, which have limited the FHA program’s effectiveness in meeting homeownership goals, said authors Peter Smith, CRL senior researcher, and Melissa Stegman, senior policy counsel. The authors used Home Mortgage Disclosure Act data from 2004 through 2016, focusing solely on single-family purchase mortgages made to ...
May 4, 2018 - Inside FHA/VA Lending
Ginnie Reinstates Nations Lending Following Talks on Loan Churning
An approved issuer suspended last month due to alleged VA loan churning activities is back in Ginnie Mae’s multi-issuer mortgage-backed securities program. Nations Lending, ranked 97th in Inside FHA/VA Lending’s top 100 VA lenders, was reinstated after reaching a confidential agreement with Ginnie Mae, according to a source familiar with the case. The Ohio-based lender has been “fully reinstated and [again] able to use all of Ginnie Mae’s programs that are available for lenders in good faith,” said the source, who asked not to be identified. The source declined to provide details of the agreement, maintaining Nations has been very transparent and was “ahead of the curve” in terms of dealing with the churning problem. “Nations began addressing the issue even before Ginnie took action,” he said. Ginnie neither confirmed nor commented on the report. “The evidence will show what is happening in the ...
May 4, 2018 - Inside FHA/VA Lending
Risk Factors Creep Higher in FHA And VA Loans in Early 2018
With overall production levels falling, there was a modest increase in several risk vectors of FHA and VA loans pooled in Ginnie Mae mortgage-backed securities during the first quarter of 2018.A new Inside FHA/VA Lending analysis shows the average credit score for FHA loans in Ginnie MBS issued during the first quarter was 671.1, the lowest level since Ginnie began reporting loan-level data on its securities. That was down from 673.2 in the fourth quarter and 679.2 a year ago. Part of the slide in FHA credit scores likely reflects the increased share of purchase mortgages, which typically have lower scores than refinance loans. The same thing happened in the VA market, where average credit scores fell 1.1 points to 707.8 in the first quarter. A year ago, the average VA score was 710.2. Debt-to-income ratios also drifted higher, suggesting more risk of default. Among FHA loans, the average DTI rose to ... [Charts]
May 7, 2018 - IMFnews
Jumbo Production Declines in 1Q18, but Optimism for the Spring
“Los Angeles, San Francisco and Boston continue to be quite supply-constrained,” said First Republic CEO James Herbert.
May 4, 2018 - IMFnews
PennyMac’s Net Income Declines as Nonbank Cites Intense Competition for Originations
PennyMac entered the broker channel in January and took in $7 million worth of product during the first quarter…
May 4, 2018 - IMFnews
Finally, Agency MBS Issuance Heads North After a Weak 1Q18
Freddie Mac had the biggest monthly increase at 22.9 percent…
Training
Industry Reports
Poll
On average, how much of a commission does your shop pay loan officers per loan they originate ?
- 25 to 50 basis points.
18%
- 51 to 100 basis points.
42%
- 101 to 150 basis points.
15%
- North of 151 basis points. (We expect a lot.)
13%
- We pay salary, not commission.
13%
Most Popular Stories
- What We’re Hearing: There Goes the GSE Footprint / MBA Chief Tackles GSE Stock Speculators / Underwater: Pershing Square / Fannie-Freddie Charter Creep or are They Just Helping the Little Guy? / New Hires for TCF
- CFPB Doesn’t Have to Make Complaints Public. However…
- Lenders Lost Money on Originations in 1Q18; Servicing to the Rescue…
- Flagstar Increases Due Diligence Sample Size with Latest Prime Non-Agency MBS
- American Action Forum: Merge the GSEs into HUD. (You Heard that Right)
