Mortgage Originators

Browse articles from all of our Newsletters related to Mortgage Originators.

November 15, 2018 - IMFnews

After Cutting 400 Mortgage Workers in June, Wells Fargo Plans to Cut 900 More

The megabank currently employs 27,000 mortgage-related workers or what it calls “team members.”


November 15, 2018 - Inside Mortgage Finance

Mortgage Market at a Glance, November 16, 2018

Weekly mortgage rates and application survey data.


November 15, 2018 - IMFnews

Short Takes: Who is Andrew Olmem and Why Does He Matter? (GSE Reform) / A Production Gain for Ditech / Citywide Home Loans Signs Partnership Deal with Stearns / Caliber Readies Nonprime MBS

If you haven’t heard of Andrew Olmem before, it’s because he tends to keep a low profile.


November 15, 2018 - IMFnews

Very Good News: MMIF Capital Ratio Improves to 2.76 Percent. As for a Cut in Premiums…

The fund's value has improved, but FHA premiums will not be cut...


November 15, 2018 - IMFnews

JPM Packages Jumbos with Relatively High LTV Ratios in Unique MBS

Moody’s Investors Service said 47.0 percent of the dollar volume of the loans in the MBS were underwritten by United Shore…


November 15, 2018 - IMFnews

More Red Ink for Ditech in 3Q and Another Potential Trip into Bankruptcy

Ditech said the company is in talks with “certain” corporate debt holders regarding another possible "court supervised" Chapter 11 process...


November 15, 2018 - IMFnews

Private MIs Gobble Up More Market Share in 3Q18 Despite Growth in FHA Sector

Arch Mortgage Insurance led the pack in terms of new insurance written in 3Q18 with $21.43 billion, followed by Radian Guaranty ($15.78 billion), and MGIC ($14.57 billion).


November 14, 2018 - IMFnews

Short Takes: MMIF Audit Due Thursday / Good News Expected but no FHA Premium Cut / Trades Voice Support for Kraninger at the CFPB / A Promotion at Stewart Title

The groups expressed their view that Kraninger has the ability to lead and manage the CFPB and protect the financial interest of consumers.


November 14, 2018 - IMFnews

A Blood-curdling Stat: Refi Index Falls to (Almost) 20-Year Low

One New Jersey-based loan officer told IMFnews, “It’s very un-nerving right now.” He noted that on a recent workday he had account executives from three different companies come into his office. “One of them, I hadn’t seen in a year.”


November 14, 2018 - IMFnews

Goldman Preps Large Non-Agency MBS Backed by Seasoned Mortgages Acquired from a ‘GSE’

Loans in GSMBS Trust 2018-RPL1 were acquired from a government-sponsored enterprise, though Fitch didn’t identify which GSE.


November 14, 2018 - IMFnews

A Brighter Future for Non-Agency May Translate Into Better Days for Trading Desks

Another trading firm that hopes to ride the non-QM wave is RAMS Mortgage Capital…


November 14, 2018 - IMFnews

Nonbank Profits a Mixed Affair in Third Quarter

Ocwen Financial has not been a model of prosperity...


November 13, 2018 - IMFnews

Short Takes: Assessing the Value of GSE Common / The Prior Decade and GSE Share Prices / Worrying About Home Values in California / Another MBS Settlement for Wells Fargo / Vendor Hires Fannie Mae Official

Early last decade, Fannie common once traded as high as $85.03, Freddie $68.20.


November 13, 2018 - IMFnews

Industry Calls for CFPB Rulemaking to Clarify the Role of Guidance

Lenders continue to worry about examiners critiquing them on issues not based in law…


November 13, 2018 - IMFnews

CFPB Exams Continue Apace Despite the 'Mulvaney Effect’

MBA’s Pete Mills noted that IMBs of all sizes from small to large are examined each year…


November 13, 2018 - IMFnews

PrimeLending Recruits LOs, Cuts Poor Performers

As of early November, PrimeLending had 1,336 LOs registered on the Nationwide Multistate Licensing System.


November 12, 2018 - Inside the CFPB

Diamond Residential Mortgage to Pay $1.2 Million for Alleged Fraud

An Illinois-based mortgage company will pay $1.2 million in restitution to consumers after a state investigation found a company’s branch manager defrauded consumers. Diamond Residential Mortgage Corp., Lake Forest, IL, recently settled with Illinois Attorney General Lisa Madigan and the Illinois Department of Financial and Professional Regulation, resolving a mortgage fraud allegation. Diamond’s Springfield branch manager, Chris Schaller ...


November 12, 2018 - Inside the CFPB

CFPB and FHFA Release First Edition of Loan-Level Dataset

The CFPB and the Federal Housing Finance Agency last week for the first time released survey results from the National Survey of Mortgage Originations, a loan-level dataset the two agencies administer jointly. The quarterly survey queries borrowers about their experiences getting a mortgage, their perceptions of the mortgage market, and future expectations among others. The data cover closed-end first-lien residential mortgages newly reported to one of the ...


November 12, 2018 - IMFnews

Short Takes: Still Hiring, UWM / Strong Growth for the Nation’s Largest Wholesaler / The Moelis GSE Plan: the Good and the Bad / Promotions at Nations Lending

United Wholesale Mortgage continues to hire...


November 12, 2018 - IMFnews

September Proves to be a Turning Point for Mortgage Employment, and Not in a Good Way

One loan broker said business has been so slow that it’s like, “going into a hockey rink overnight: Dead quiet.”


November 12, 2018 - IMFnews

Odds of GSE Reform May Not Have Changed Much

Gone from the Senate, via retirement, is Sen. Bob Corker, R-TN, a moderate Republican who was a proponent of reforming the secondary mortgage market…


November 12, 2018 - IMFnews

GSE Credit Box Opened Slightly Wider in 3Q18

The dollar volume of low-score purchase loans increased by 29.8 percent from the second to the third quarter, while total GSE purchase business went up 23.6 percent.


November 9, 2018 - Inside The GSEs

Freddie Publishes White Papers on Underserved Multifamily

More needs to be done to incorporate affordable rental units into all geographic areas, according to Freddie Mac, which released a series of white papers last week focusing on the underserved multifamily housing markets. The GSE is publishing a total of eight papers as part of its duty-to-serve initiative to bring the issue of affordable apartments to the forefront. One of the papers explored how state housing finance agencies help guide low-income housing tax credit investment to high-income ...


November 9, 2018 - Inside Mortgage Trends

First Horizon Profits from Warehouse Lending

First Horizon National Corp. is seeing strong profits from its warehouse lending efforts. Loans to mortgage companies are the bank holding company’s most profitable lending business, according to officials at First Horizon. Warehouse lending is completed through the company’s banking subsidiary, First Tennessee. As of the end of the second quarter, First Tennessee had $3.0 billion in warehouse lending commitments, according to Inside Mortgage Finance. BJ Losch, an executive ...


November 9, 2018 - Inside Mortgage Trends

PrimeLending Recruits LOs, Cuts Poor Performers

PrimeLending is churning through loan originators, recruiting strong candidates and letting go of “non-performers” as lenders battle for purchase mortgages. In recent months, the retail lender owned by PlainsCapital Bank hired about 250 LOs and released about 200 others, according to Alan White, chairman of PlainsCapital Bank and co-CEO and vice chairman of Hilltop Holdings, which owns the bank. “We’ve been able to upgrade our staff,” he said during Hilltop’s earnings call ...


November 9, 2018 - Inside Mortgage Trends

No Need to Fear Growth of Cash-Out Refi, Says UI

Cash-out refinancing is on the rise again, driven by rising interest rates and strong home-price appreciation, but there is no cause for alarm, according to the Urban Institute. Using Freddie Mac’s quarterly numbers on the refi market, UI found that the share of refi loans where borrowers tapped into their home equity has reached 77 percent of total refis in the second quarter of 2018. That was the market’s highest point since 2008, just as housing valuations began to tank ...


November 9, 2018 - Inside Mortgage Trends

GSE Credit Box Opened Slightly Wider In Third Quarter as Rates Ticked Higher

The credit window for Fannie Mae and Freddie Mac single-family mortgages opened a little wider during the third quarter of 2018 as competition intensified in the primary market. A new Inside Mortgage Trends analysis of mortgage-backed securities issued by the government-sponsored enterprises during the third quarter revealed modest increases in the shares of purchase mortgages with low credit scores, although trends in loan-to-value ratios were mixed ... [Includes two data charts]


November 9, 2018 - IMFnews

What We’re Hearing: The ‘Hensarling Effect’ / Team Trump, Not Congress, Will Reshape the Fannie and Freddie / Timing? / Selling Servicing Rights to Unleash Revenue / Ocwen’s Head Count

The first move expected is a possible lowering of GSE loan limits...


November 9, 2018 - IMFnews

CFPB and FHFA Release First Loan-Level Dataset for Public Use

The CFPB and FHFA have been compiling the survey data but have never released the results.


November 9, 2018 - IMFnews

Agency Single-Family MBS Production Softened in October as Purchase Market Deflated

Fannie, Freddie and Ginnie issued a combined $98.03 billion of single-family MBS last month, a 5.1 percent drop from September…


November 8, 2018 - Inside Mortgage Finance

PennyMac Flourishing with Correspondent-Heavy Originations and Large, Growing Servicing Portfolio

PennyMac Financial Services is turning profits, increasing originations, acquiring servicing and looking to grow market share while other lenders are faltering under increased competitive pressure.


November 8, 2018 - Inside Mortgage Finance

Purchase-Mortgage Lenders Adjusting to Tighter Margins As Market Shifts from Refinances

Lenders that predominantly originate purchase mortgages might have been better prepared for the shift away from refinances but they’re not immune to the tighter margins that have accompanied increased competition for volume in recent months.


November 8, 2018 - Inside Mortgage Finance

Most Loan Products Saw Declining Volume in 3Q18, But Fledgling Expanded-Prime Sector Continued to Grow

The modest decline in total first-lien mortgage originations during the third quarter affected most sectors of the market, but it hit a little harder at the prime-jumbo space, according to an exclusive new Inside Mortgage Finance analysis. (Includes two data charts.)


November 8, 2018 - Inside Mortgage Finance

Mortgage Market at a Glance, November 9, 2018

Weekly mortgage rates and application survey data.


November 8, 2018 - IMFnews

Short Takes: A Sale Agreement but What’s the Price, Mr. Cooper? / A Material Event? / UBS Expects DOJ Action / Ellington’s New Non-QM MBS / A New Hire for Home Point

UBS said the Department of Justice intends to file a civil complaint against the company relating to pre-crisis MBS issuance...


November 8, 2018 - IMFnews

Impac Suffers Another Loss. Revenue and Originations Take a Hit. Layoffs Too

About 41 percent of Impac's volume now entails non-QM lending...


November 8, 2018 - IMFnews

Redwood Accelerates Diversification Efforts, Remains Profitable in Third Quarter

Redwood CEO Chris Abate: “Our game plan in the third quarter was a bit unconventional – we ran an up-tempo offense, squarely in the face of mortgage market headwinds.”


November 8, 2018 - IMFnews

Mr. Cooper Reports $54 Million Profit for 3Q18, Agrees to Buy $10B Originator

Several months ago, rumors began to surface that Pacific Union might be for sale...


November 8, 2018 - IMFnews

Most Products Saw a Decline in 3Q18, but Expanded-Credit Loans Bucked the Trend

A few mainstream lenders are starting to take notice, but most of the action is at a handful of nonbanks that have spearheaded the sector’s rise…


November 8, 2018 - IMFnews

HUD Working on MOU to Clarify Use of False Claims Act

FHA is considering its Mortgagee Review Board as an alternative to the FCA in meting out penalties...


November 7, 2018 - IMFnews

Short Takes: GSE Oversight Hearing Delayed Yet Again / Coming in 2019? / Maxine Water’s GSE Reform Bill? / Bermuda Insurer Partners with Radian / Ocwen’s New Name? Maybe Newco? / PrimeLending’s New Hire

Will Rep. Maxine Waters tackle GSE reform?


November 7, 2018 - IMFnews

Ocwen’s New CEO Talks About Severance Payments, but Growth Too

Ocwen CEO Glen Messina: "Having completed the merger, we now have unrestricted access to PHH employees..."


November 7, 2018 - IMFnews

Expanded-Credit MBS Underwriting Not Loosening Much, Prepayments Remain High

Risk layering remains uncommon on the new breed of expanded-credit mortgages…


November 7, 2018 - IMFnews

QM Patch Expiration Could Shift More High-DTI Loans to FHA

Analysts see the expiration of the QM patch as having a lesser effect on the non-agency market and a greater impact on FHA...


November 7, 2018 - IMFnews

NYSE Suspends Trading in Ditech, Nation’s 13th Largest Servicer

Ditech said it has no plans to appeal the NYSE’s decision.


November 6, 2018 - IMFnews

Short Takes: Calabria for the FHFA Job? / Egenhoefer’s New Gig? / Ocwen’s Share Price Gets Clocked / WAMCO Prepares EC MBS / Invitation Homes’ SFR Inventory / Fast-Growing Servicers

Among the nation’s top 20 servicers at Sept. 30, Freedom Mortgage had the largest increase its MSR balances...


November 6, 2018 - IMFnews

Rated MBS Backed by Fix-and-Flip Bridge Loans Likely

Fix-and-flip financing has gradually increased each year since 2011…


November 6, 2018 - IMFnews

LoanStream Branches Out into Correspondent, Aims to ‘Dominate’ the Market

LoanStream was already originating nonprime mortgages via retail and wholesale outlets...


November 6, 2018 - IMFnews

Another Quarterly Loss for Ocwen, New CEO Messina Calls for ‘Re-engineering’ the Cost Structure

Ocwen is planning a re-engineering of its cost structure...


November 6, 2018 - IMFnews

Ginnie Asks Top Servicers to Come up with ‘Liquidity Plan’

One observer with clients who received the letter, said: “This has spooked the horses.”


Poll

With loan volumes declining, does your shop have plans to enter the non-QM lending market in 2019?

Yes, definitely. A solid move forward.
Yes, but only incrementally.
We’re pondering a move into non-QM, but haven’t made up our mind.
No, definitely not. We view it has too risky.

vote to see results