Mortgage Originators

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

March 22, 2019 - Inside The GSEs

Appeals Court Sides with CitiMortgage

A panel of the 8th Circuit Court of Appeals, in a ruling filed earlier this month, found that a reseller of mortgage loans could demand that an originator repurchase defective loans, even though the contract between the two companies did not prescribe a specific timeframe within which the originator must cure any defects. The decision reversed a lower court’s ruling.


March 22, 2019 - Inside Mortgage Trends

Mortgage Employment Weak. But Better Days Ahead?

Mortgage banking firms trimmed 1,100 posi-tions during January, ending the month with 239,900 full-timers on their payrolls, according to figures compiled by the Bureau of Labor Statistics. Loan brokers, on the other hand, added 500 positions, bringing employment in the sector to 86,300. The BLS figures trail the national numbers by a month but remain a decent barometer of hiring trends in these two separate, but distinct, corners of the industry. The fact that brokers are hiring is a ...


March 22, 2019 - Inside Mortgage Trends

HELOC Providers Need to Improve Digital Offerings

A lack of digital offerings has become a major drag on the home-equity market as customers are more likely turning to alternative sources of funding, according to a new study by J.D. Power. The satisfaction score of home-equity line of credit products among customers who use solely digital channels is 819 on a 1,000-point scale, the lowest compared to the satisfaction scores of HELOC customers who gather information in person or via phone only (836) and those who use both online and ...


March 22, 2019 - Inside Mortgage Trends

Impac’s Shift Toward Non-QMs Prompts Turnover

Impac Mortgage Holdings is putting a strong emphasis on originating non-qualified mortgages as the product offers attractive margins. But the shift also has prompted large layoffs and employee turnover as non-QM volume hasn’t completely replaced production of conforming mortgages. Impac originated $1.30 billion of non-QMs in 2018, accounting for 33.9% of its total originations. In 2017, Impac produced $891.2 million of non-QM loans, accounting for 12.5% of ...


March 22, 2019 - IMFnews

What We’re Hearing: Goldman Sachs is Doing What? / A Wall Street Warm Up? / 10.75% Money for Freedom Mortgage / A Grade of B+ / The Green New Deal a More Important Issue than Calabria? / CoreLogic Executive Lands Top Post at Fannie Mae

In the Senate, the 'Green New Deal' is more important than Mark Calabria?


March 22, 2019 - IMFnews

MBS Trading Falters Slightly but Strong Overall

One fact is certain: January and February were not good months for the production of Fannie Mae, Freddie Mac and Ginnie Mae securities.


March 22, 2019 - IMFnews

FHA Lenders Can Opt for Third-Party Verification

The new guidance applies to all FHA forward mortgages and HECMs…


March 22, 2019 - IMFnews

CFPB Makes Changes to Advisory Boards, Reversing Decisions Made by Mulvaney

The bureau plans to extend the terms of half the current members in order to achieve the staggered terms and ensure continuity.


March 22, 2019 - IMFnews

Surprise: Goldman Sachs Aggregating Jumbos and Conforming Loans for Non-Agency MBS

Goldman hasn’t been active in the prime non-agency MBS market except for a one-off deal in 2014.


March 21, 2019 - Inside Mortgage Finance

Nonbanks Increasing Originations of Non-QMs

Several nonbanks are increasing their originations of non-qualified mortgages, a bright spot in an otherwise declining volume environment.


March 21, 2019 - Inside Mortgage Finance

Mortgage Market at a Glance, March 22, 2019

Weekly mortgage rates and application survey data.


March 21, 2019 - IMFnews

The Non-QM Bright Spot Continues to Grow

“In 2018, our lending units saw a distinct rise in the popularity and use of non-QM products as more creditworthy borrowers turned to these innovative options,” said Angel Oak’s Michael Fierman…


March 20, 2019 - IMFnews

OCC Fines Citibank $25M for Fair Lending Violations

According to the consent order, between 2011 and 2015, Citi had certain control weaknesses related to its “relationship loan pricing” program...


March 20, 2019 - IMFnews

JPM Pondering Non-QM Finance Opportunities?

“They’ve approached a few lenders,” he said, “and have some others to see.”


March 20, 2019 - IMFnews

Short Takes: Getting the Industry’s Pulse on GSE Reform / Who Gets to Lead? / Why Phillips Didn’t Get the FHFA Job / The Battle for Risk / Selling Shares in Invitation Homes / Radian Names Dave Stevens to Its Board

Who knows more about GSE reform: the White House or Treasury? We get a sense the two parties don't see eye to eye on everything...


March 20, 2019 - IMFnews

VA-Based Nonbank Scuttles Merger with Congressional Bank

Congressional has seven branches and $949.7 million in assets. It earns roughly $16 million a year.


March 19, 2019 - IMFnews

Short Takes: Why the GSE Net Worth Sweep Won’t be Reversed / Recap and Release? / A Much-Watched Profit Reading / Starwood and Impac, a Symbiotic Relationship / Bank Failures, Anyone? / Reverse Lender Hires Sales Chief

Each quarter, GSE profits reduce the federal budget deficit. If that cash is forfeited...


March 19, 2019 - IMFnews

Chimera Readies Another Non-Agency MBS Backed by GSE-Eligible Investment Loans

Some lenders and MBS issuers are seeing better execution for GSE-eligible loans in the non-agency market…


March 19, 2019 - IMFnews

After a Trying 1Q19, Industry Hopes for Better Days Ahead

After trying times in January and February, March was somewhat better and the much ballyhooed spring home buying season should bring some degree of relief.


March 19, 2019 - IMFnews

Strong Growth for Jumbo Servicing in 2018

Wells Fargo, JPMorgan Chase and Bank of America had a combined jumbo servicing market share of 61.4% at yearend, according to figures compiled by Inside Nonconforming Markets…


March 18, 2019 - IMFnews

Short Takes: A New Wave of Optimism? / Value Your CFO / Feds Plan Community Hearings on BB&T-SunTrust Deal / MFA Buying Plenty of Whole Loans. Can An MBS Be Next? / Former HUD Official Pam Patenaude Lands

Mortgage REIT MFA Financial, New York, bought roughly $1 billion worth of loans during the fourth quarter...


March 18, 2019 - IMFnews

Genworth Sale Continues to Drag On, Ninth Waiver Granted

The sale of Genworth was first announced in October, 2016…


March 18, 2019 - IMFnews

GNMA MBS Production Down Sharply in February

Much of the reduced refi business resulted from a 14.8% drop in cash-out transactions...


March 18, 2019 - IMFnews

Worried About Risk, FHA Seeks to Mitigate Decreasing Credit Scores, More…

Changes to the agency’s TOTAL Mortgage Scorecard, go into effect March 18...


March 18, 2019 - IMFnews

Non-QM Lender Angel Oak Quickly Returns to the MBS Market with its Largest Deal Yet

The underlying mortgages have an average credit score of 703...


March 15, 2019 - IMFnews

What We’re Hearing: The Changing of the Guard at the FHFA / A Deep Resume / Retained Capital for Fannie and Freddie, a Matter of When? / The Holy Grail / Impac Mortgage, Act III / FHA Moves to Sure Up its Book

An increase in retained earnings is a pre-cursor to GSE “recap and release,” or as Fannie/Freddie investors call it, the Holy Grail…


March 15, 2019 - IMFnews

FHFA’s Otting in a Position to Bolster the Non-Agency Market

SIFMA’s Daniel Goodwin: “Financial regulators must create a level playing field so that entities like the GSEs do not enjoy capital benefits that add to the tilting of the market…”


March 15, 2019 - IMFnews

A Challenging 4Q18 for Impac; Lender Sells $10.5B of MSRs

In the fourth quarter, Impac’s gain-on-sale margin increased 85 basis points to 203 bps, a reflection of its growing originations of non-QM loans.


March 14, 2019 - Inside Mortgage Finance

Mortgage Grapevine: GSE Reform; PIMCO Takes a Pass On Deephaven?

A roundup of the week's developing news.


March 14, 2019 - IMFnews

Short Takes: Not the Best Written Indictment? (Manafort) / Bought for $3 Million but Worth $8 Million a Few Years Later / Rates Move Lower / Applications Move Higher / PennyMac’s $200 Million Stock Sale / A New Hire for Gateway Mortgage

Thanks to declining interest rates, lenders are feeling more optimistic these days...


March 14, 2019 - Inside Mortgage Finance

After a Trying 1Q, Industry Hopes for Better Days Ahead

In just over two weeks, the first quarter will come to an end with many conventional lenders closing the books on what likely was a trying three months — one shaped by lower originations, tight profit margins and worries about the future.


March 14, 2019 - Inside Mortgage Finance

Home-Equity Market Droops in 2018, CUs Keep Charging

Home-equity lending weakened in late 2018 but remained a relatively bright spot in the mortgage business, according to an exclusive Inside Mortgage Finance market analysis. [Includes three data charts.]


March 14, 2019 - Inside Mortgage Finance

Mortgage Market at a Glance, March 15, 2019

Weekly mortgage rates and application survey data.


March 14, 2019 - IMFnews

Lender Diversity, Inclusion Activities on CFPB’s Radar Screen

The letters refer to the diversity and inclusion standards issued by the agency in 2015...


March 14, 2019 - IMFnews

SBC Chairman Crapo Schedules Two Days of Hearings on GSE Reform

NAR would like to see Fannie and Freddie restructured as tightly regulated shareholder-owned utilities...


March 14, 2019 - IMFnews

Home-Equity Market Sagged in 2018, but Still a Bright Spot

Credit unions reported a 19.5% increase in closed-end second originations from the first half of 2018 to the second half…


March 13, 2019 - IMFnews

Tiered Supervision of Nonbanks Advocated by Trade Groups

Nonbanks in recent years have expanded their presence in the market significantly...


March 13, 2019 - IMFnews

Short Takes: More Non-QM MBS Deals on the Way / What’s Ginnie Mae Really Worried About? / A Big ‘Nothing Burger’? / What Borrowers Want When They Shop Online for a Mortgage / Amherst’s Appetite for SFR / A New Hire for Incenter

Another official described the Ginnie Mae change as a “nothing burger…”


March 13, 2019 - IMFnews

Broker Business Gained Market Share in 2018

Retail’s biggest presence was in the jumbo market…


March 13, 2019 - IMFnews

Freddie Mac’s MBS Business Rebounds in February

Fannie Mae saw its monthly MBS output decline by 18.1% from January…


March 12, 2019 - IMFnews

Short Takes: Banking on a GSE Dividend / Maybe Next Time Around / Democrats Put CFPB Chief Kraninger on the Grill / Home Point Expands Correspondent Presence / A New Creative Hire for Guaranteed Rate

Kraninger faced some tough questions from Sen. Warren...


March 12, 2019 - IMFnews

Sterling Bank and Trust, Citadel Servicing Top Contributors to Oaktree MBS

Sterling will account for 58% of the loans in the MBS, Citadel 23%...


March 11, 2019 - IMFnews

Short Takes: Impac, Better Late Than Never / Wall Street Roots / An Early Start to Spring Home Buying? / Sprague Departs Phoenix Capital for STRATMOR Consultancy

An early start to the spring home buying season?


March 11, 2019 - IMFnews

New Residential Readies Second Non-QM MBS of the Quarter

A number of firms regularly issue one non-QM deal per quarter. Two transactions is less common...


March 8, 2019 - Inside Mortgage Trends

TPO Volume in Agency MBS Declined Sharply in 2018

Despite hefty declines in their sales volume last year, Wells Fargo and PennyMac continued to rank as the top sources of third-party originations in agency mortgage-backed securities. [Includes one data chart]


March 8, 2019 - Inside Mortgage Trends

Racial Gap in Housing Wealth Getting Deeper

A disparity between black and white homeowners regarding the value of their homes is making the racial wealth gap much worse, according to a new study from the Urban Institute.


March 8, 2019 - Inside Mortgage Trends

Digital Lender Better.com Expects Doubling Output

The mortgage market expects output to be flat this year, but digital mortgage lender Better.com said it could double its production to $2.5 billion. “We did about $1.3 billion last year, which is three times what we did in 2017,” the company’s President Jerry Selitto said.


March 8, 2019 - Inside Mortgage Trends

Consumer Experience Key to Lender Profitability

In a lackluster market amid rising interest rates and limited inventory, advisory firm Strategic Mortgage Finance Group has advice on how mortgage lenders can remain profitable.


March 8, 2019 - Inside Mortgage Trends

Industry Seeks Delay of Credit Loss Standard

Industry groups have once again requested federal regulators delay a new accounting standard for credit losses. The Current Expected Credit Loss standard is scheduled to be implemented on a phased-in basis beginning in January.


March 8, 2019 - Inside Mortgage Trends

Broker Business Gained Market Share in 2018

Retail mortgage lending remained the dominant originations channel in 2018, but it lost some luster to third-party production channels. [Includes two data charts]


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