Mortgage Originators

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

May 25, 2018 - Inside Mortgage Trends

Mortgage Shopping Still Best for Homebuyers

Homebuyers in Tampa, Kansas City (MO), Portland and New York saw the biggest mortgage rate savings by shopping around for home loans compared to buyers in other US cities, according to a new study by LendingTree. The rate spreads in the four cities are the largest for purchase-mortgage loans overall, while New Orleans, Salt Lake City and Indianapolis have the largest differences in refinance mortgage rates, the study found. Also, due to the large loan sizes, California borrowers ...


May 25, 2018 - IMFnews

Short Takes: FHFA Punts on MI Volume Discounts / Fannie Considering an IMAGIN of its Own / Home Sales Decline / Refi Business Worse than 2014?

A senior FHFA official said disputes over private mortgage-insurance pricing likely fall under the jurisdiction of state insurance regulators.


May 25, 2018 - IMFnews

Investors Outbidding First-Time Homebuyers, Genworth Expects Supply of Homes to Increase

Tian Liu, chief economist at Genworth Mortgage Insurance, said homebuilders are starting to increase the supply of homes at somewhat lower price points, which could help increase purchases by first-time buyers.


May 25, 2018 - IMFnews

Home Sales Expected to Increase in 2018 even with Higher Interest Rates and Home Prices

Freddie said the strong labor market and years of pent-up interest are increasing demand for purchase mortgages.


May 25, 2018 - IMFnews

Real Estate Agents Prefer Nonbanks when Making Referrals for Purchase Mortgages

The top four lenders receiving the highest rate of “likes” and lowest rate of “dislikes” from real estate agents were all nonbanks: Fairway Independent, Movement Mortgage, Guild Mortgage and Guaranteed Rate.


May 24, 2018 - Inside Mortgage Finance

Correspondent Channel Gained Some Market Share in Fiercely Competitive First Quarter

All three loan-production channels saw sharp declines in volume during the first quarter, but correspondent activity held up slightly better than the other platforms. [Includes four data charts.]


May 24, 2018 - Inside Mortgage Finance

Mortgage Market at a Glance, May 25, 2018

Weekly mortgage rates and application survey data.


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 24, 2018 - IMFnews

Short Takes: Home Prices Increase / HPA Slowing in Some Areas / Bank Switches Mortgage Strategy / Hometap Raises $12.0 Million

Home prices increased by 1.7 percent in the first quarter of 2018, according to the Federal Housing Finance Agency’s house price index.


May 24, 2018 - IMFnews

PeerStreet’s Originations Booming with a Focus on Bridge Loans for Investment Properties

PeerStreet was founded in 2014, reached a cumulative $500.0 million in originations this past September and recently surpassed $1.0 billion in originations.


May 24, 2018 - IMFnews

Senate Confirms Montgomery as FHA Commissioner, Industry Braces for Changes

Rep. Jeb Hensarling, R-TX, chairman of the House Financial Services Committee, said Montgomery should “right size” the FHA.


May 23, 2018 - IMFnews

Reg Relief Passes Congress, Revising Dodd-Frank Act Provisions; Republicans Plan Additional Legislation

House Republicans, who previously said the Senate bill didn’t go far enough, said they will have a separate reg relief package to be considered by the Senate.


May 23, 2018 - IMFnews

Short Takes: Applications Decline/ Delinquencies Improve / MBA Hires Senate Staffer / New Proprietary Reverse Mortgages

Applications for purchase mortgages and refinances both declined.


May 22, 2018 - IMFnews

House Set to Pass Reg Relief Bill With Changes to QM Standards

The House decided to take a vote on the current Senate bill with no amendments and the Senate is expected to consider a separate deregulation package from the House.


May 22, 2018 - IMFnews

Short Takes: Stated-Income Alert / FHLBank Loses Another MBS Case / New CFO at Impac / MSR Consulting M&A

If stated income appears to be overstated by 15.0 percent or more, PointPredictive notifies the lender so additional verification can be completed.


May 22, 2018 - IMFnews

Mortgage Production Was a Net Loss in 1Q18 as Competition Takes a Toll

Respondents to the Mortgage Bankers Association's quarterly mortgage banking performance survey reported, in aggregate, a negative margin in the “mid to high single digits” for the first quarter.


May 21, 2018 - IMFnews

Banks Getting Slightly More Comfortable Originating Non-QMs

The non-qualified mortgage share of originations by banks increased slightly in 2017, according to a survey by the American Bankers Association. The share of banks offering non-QMs also increased.


May 21, 2018 - IMFnews

A Huge Merger in Chicago: Fifth Third Bancorp to Buy MB Financial

Fifth Third Bancorp announced on Monday that it has agreed to buy MB Financial in a transaction valued at approximately $4.7 billion. The combined company will then rank fourth in total deposits and second in retail deposits in Chicago market. It will also have a 20 percent share of middle market relationships in Chicago, ranking it second.


May 18, 2018 - Inside FHA/VA Lending

CHLA Asks FHFA to Look into Unfair Private MI Pricing, Discount Perks

Community mortgage lenders called for an investigation of pricing practices of private mortgage insurers regarding their use of volume discounts and other incentives to get more business from lenders selling loans to Fannie Mae and Freddie Mac. In a letter to Federal Housing Finance Agency Director Mel Watt, the Community Home Lenders Association raised concerns about “pricing disparities” in lender-paid mortgage insurance based on lender size and volume. Such practices may involve better pricing offers to larger lenders or bidding out loan pools based on the percentage of discounts larger lenders get from their customary private MI pricing, the CHLA said. In addition, some private MIs offer special pricing to lenders that agree to do business exclusively with them – a type of proxy for volume discount. The group asked the FHFA, as the regulator of Fannie and Freddie, to investigate whether ...


May 18, 2018 - Inside FHA/VA Lending

FHA/VA Loan Denial Rates Track Historical Patterns, Data Show

Minority borrowers applying for an FHA or VA first-lien purchase mortgage were more likely to be denied than comparable white borrowers, according to an Inside FHA/VA Lending analysis of 2017 Home Mortgage Disclosure Act data. This finding was no surprise because the denial rates reflected the same historical trends for white and minority borrowers over the years. Approximately 727,865 FHA/VA loans went to white borrowers last year. Of the 978,981 government-insured loan applications submitted by white borrowers, 9.07 percent were denied. Of the 231,108 black borrowers who applied for a government-backed home loan, lenders rejected 14.57 percent. Out of the 285,707 FHA/VA loan applications submitted by Hispanics, lenders denied 11.42 percent. Asian borrowers submitted the least number of FHA/VA loan applications, 44,739. Lenders denied 11.36 percent. For FHA, the ... [Chart]


May 18, 2018 - Inside FHA/VA Lending

HUD Asks Stakeholders to Weigh Disparate-Impact Regulation

A recent announcement by the Department of Housing and Urban Development to seek public comment on its 2013 disparate-impact rule is an opportunity for both HUD and the industry to clarify the liability issues it raises, said compliance experts. On May 10, HUD announced it would formally seek public input on whether the disparate-impact regulation is in tune with the Supreme Court of the United States’ 2015 decision in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc. The HUD rule affirmed the use of disparate impact to establish liability for violations of the Fair Housing Act. It lays out a three-step approach to determining FHAct liability. The first step requires the plaintiff to demonstrate that a practice or a policy has a discriminatory effect on a protected class of persons. According to the rule, liability may be established even if the ...


May 18, 2018 - Inside FHA/VA Lending

FHA, VA Lending Down Sharply in 1Q18 But Programs Diverged

New FHA endorsements and VA home loan guaranty volume were both down significantly in the first quarter, but the two programs followed different paths to mostly similar results. A new Inside FHA/VA Lending ranking and analysis shows that endorsements of FHA forward mortgages slipped 10.5 percent from the fourth quarter to $48.96 billion. That was the lowest quarterly output for the program since early 2015, when just $39.48 billion of FHA forward loans were originated. In the VA program, new loan guarantees fell 11.1 percent from the fourth quarter to $39.06 billion. That was the lowest three-month total since the first lap in 2016, with $37.09 billion produced. Most of the decline in FHA business was in purchase-mortgage lending, which fell 13.5 percent from the fourth quarter. While purchase loans still accounted for a hefty 71.1 percent of FHA forward endorsements during the ... [Charts]


May 18, 2018 - Inside Nonconforming Markets

Impac Increasing Non-QM Production

Impac Mortgage Holdings is putting more emphasis on originating non-qualified mortgages, with officials noting that the loans offer much better margins than conventional mortgages. Impac originated $248.2 million of non-QMs in the first quarter of 2018, up 5.6 percent from the previous cycle and a 34.7 percent increase from a year ago. Non-QMs accounted for 18.8 percent of Impac’s production in early 2018 compared with a 14.2 percent share in the previous quarter and an ...


May 18, 2018 - Inside Nonconforming Markets

California Loses Market Share for Jumbos in 2017

California continues to account for the largest share of non-agency jumbo originations but it lost some market share in 2017, according to an Inside Nonconforming Markets analysis of data from the Home Mortgage Disclosure Act. Some $317.29 billion of jumbos were originated in 2017, down 9.7 percent from the previous year. The analysis is based on originations of first-lien, single-family mortgages, with loan-limits determined at the county level. Originations of ... [Includes one data chart]


May 18, 2018 - Inside Nonconforming Markets

Non-Agency Jumbo Lending Tumbled In 1Q18, Sector Loses Market Share

Production of non-agency jumbo mortgages declined significantly in the first quarter of 2018, according to a new ranking and analysis by Inside Nonconforming Markets. An estimated $60.0 billion of jumbos were originated in the first quarter, down 26.8 percent from the previous period. Jumbo production was also off 13.0 percent from the first three months of 2017. The decline in jumbo volume was greater than the slowdown in the overall mortgage ... [Includes one data chart]


May 17, 2018 - Inside Mortgage Finance

All Major Loan Products Saw Huge Decline In Production From 4Q17 to Early 2018

Residential mortgage lending was down in the first quarter of 2018 in every category, according to a new analysis and ranking by Inside Mortgage Finance. [Includes two data charts.]


May 16, 2018 - IMFnews

Short Takes: Time to Change the QM Rule? / Bright Tapped to Head Ginnie / MSR Sellers Sitting Pretty? / After the Recession… / Applications Decline Again / NAR’s Chief Lobbyist Sets Retirement Date

Residential firms looking to sell mortgage servicing rights are in a sweet spot right now. However...


May 16, 2018 - IMFnews

M&A Market Heats Up, Union Home Buys Arizona Lender

UHM has roughly 130 retail branches across 36 licensed states…


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

Short Takes: USMI Seconds that GSE Emotion / Don’t Hold Your Breath / Mid America Enters the Warehouse Arena / Fannie Selling NPLs / A Recession Coming? / Freddie Gets a New Chief Compliance Officer

Barry Habib, who heads MBS Highway, believe that within two years, the U.S. will be in a recession...


May 15, 2018 - IMFnews

New Rulemaking Agenda Suggests a Restrained Role for the CFPB

The updated agenda is the CFPB’s first under Mulvaney’s leadership.


May 15, 2018 - IMFnews

GSE Share Prices Weaken; KBW: Risk-Sharing Deals Hurt Profits

KBR points out that risk-sharing results in premiums being shifted away from Fannie and Freddie to providers of credit risk protection.


May 15, 2018 - IMFnews

Flagstar Packages GSE-Eligible Mortgages on Investment Properties into Non-Agency MBS

Packaging the loans into a non-agency MBS suggests that Flagstar expects better execution in the non-agency market than from delivering the mortgages to Fannie Mae or Freddie Mac.


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 15, 2018 - IMFnews

Secondary Market Activity Strong in 2017

Originators also sold $483.13 billion of loans to unaffiliated buyers outside of the agency market…


May 14, 2018 - IMFnews

Short Takes: Ditech Ready to Roll Out Jumbo Product? / Who is Samuel Martini and Why Does he Like Ditech? / An Explanation of Legal Risks / What’s $164 Trillion Among Friends?

Total U.S. debt outstanding is just over $21 trillion. Prior to the financial crisis, U.S. mortgage debt was actually larger than Treasury debt...


May 14, 2018 - IMFnews

Lenders Quantify Cost, Impact of CFPB’s ATR Rule

Lenders estimated that ATR/QM added $139 per loan to their ongoing origination costs.


May 14, 2018 - IMFnews

Fannie: Appraisals Still Needed Despite Technological Advances

Fannie Mae's Renee Schultz said the decision to offer property inspection waivers is probably the longest running pilot the GSE has ever had…


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 Mortgage Trends

FHA Rates Lower on Refi than Purchase Loans

The weighted average coupon for new issuance of FHA refinancing loans is much lower than FHA purchase loans due to a combination of factors, according to an analysis by Wells Fargo Securities. Wells analysts led by senior analyst Vipul Jain compared collateral characteristics of FHA purchase and refi production for 2017 based on the weighted average loan age (WALA) of newer collateral issuance. The team found that purchase-loan production in FHA carries higher-than-average ...


May 11, 2018 - Inside Mortgage Trends

Lenders Quantify Cost, Impact of ATR Rule

The Consumer Financial Protection Bureau’s ability-to-repay requirements yielded higher costs for lenders and revealed flaws with vendors’ loan originations systems, according to a recent survey of lenders. The ATR rule and standards for qualified mortgages took effect in early 2014. Strategic Mortgage Finance Group surveyed 122 lenders about the regulation earlier this year. Lenders estimated that ATR/QM added $139 per loan to their ongoing origination costs. Only $44 of ...


May 11, 2018 - Inside Mortgage Trends

Secondary Market Activity Strong in 2017

About 70.4 percent of the home loans originated in 2017 were sold to secondary market investors, according to a new Inside Mortgage Trends analysis of Home Mortgage Disclosure Act data released this week. According to the preliminary HMDA data made available by federal regulators, lenders reported $1.738 trillion in first-lien single-family mortgage originations in 2017. HMDA data cover about 96 percent of the market. The biggest buyers were Fannie Mae ... [Includes one data chart]


May 11, 2018 - Inside Mortgage Trends

GSE Credit Window for Purchase Loans Opened Slightly in 1Q18

Mortgage sellers continue to get a little more adventurous in the kinds of loans they deliver to Fannie Mae and Freddie Mac, according to an exclusive Inside Mortgage Trends analysis of data on mortgage-backed securities issued during the first quarter of 2018. The credit loosening was more apparent in the purchase-mortgage sector, which saw declining production volume from seasonal factors. In the first quarter, 12.61 percent of purchase loans sold ... [Includes two data charts]


May 11, 2018 - IMFnews

What We’re Hearing: Anxiety Rising Regarding GSE Reform / Higher G-Fees? No More Cash-out Refis? / What Mick Mulvaney Might Do if He Headed the FHFA / Mulvaney’s PADs / Layoffs at Impac

Surely, conservatives are applauding the way Mulvaney is trying to remake the Consumer Financial Protection Bureau...


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

Nonbanks Ready to Crank up the Non-QM MBS Machine

Starwood Property Trust, a REIT largely focused on commercial mortgages, has been stockpiling non-QMs…


May 10, 2018 - Inside Mortgage Finance

Early Look at HMDA Data Reveals Robust Purchase-Mortgage Market in 2017

Federal regulators broke with tradition this week and released annual Home Mortgage Disclosure Act data roughly four months earlier than they have in the past.


May 10, 2018 - Inside Mortgage Finance

Competition for Correspondent Originations Taking its Toll on Lenders, Large Nonbanks Look to Servicing

Margins in the correspondent channel took a hit in the first quarter, according to officials at a number of large lenders. Some nonbanks with significant servicing portfolios are expecting profits to shift to the servicing segment as interest rates increase.


May 10, 2018 - Inside Mortgage Finance

Lenders, Borrowers Primed for Purchase Mortgages but a Lack of Housing Inventory is Holding Back Originations

Most mortgage lenders have been primed to focus on the home-purchase market and there is plenty of borrower demand, but housing supply remains a sticking point.


May 10, 2018 - IMFnews

Short Takes: Impac Employees Looking Around? / Ex-CFPB Chief Cordray Wins in Ohio, but… / Will Warren Pick Cordray to Head the CFPB (Again)? / AIG Unit Readies Jumbo MBS / PennyMac Restarts Jumbo Unit

Cordray was never popular in the mortgage industry because of all the regulations he heaped on lenders and servicers...


Poll

On average, how much of a commission does your shop pay loan officers per loan they originate ?

25 to 50 basis points.
51 to 100 basis points.
101 to 150 basis points.
North of 151 basis points. (We expect a lot.)
We pay salary, not commission.

vote to see results