Originations

Browse articles from IMFnews related to Originations.

December 14, 2018 - IMFnews

What We’re Hearing: FHA Loan Limits / What a Shutdown Means / The Return of Angelo Mozilo / The Finger of Blame Points to Wall Street / New Disclosures from Ditech / A Subservicing Business Dominated by One Client

The panel Mozilo spoke on was billed: “Join two titans of the industry as they discuss the past, present and future of the mortgage industry.”


December 14, 2018 - IMFnews

A Kinder, Gentler CFPB Under Kathy Kraninger? BCFP or CFPB?

Kraninger said she will make a “near-term” decision on changing the agency’s name…


December 14, 2018 - IMFnews

Calabria Gets the Nod for the FHFA Job. Rebuilding Capital on His Agenda?

A fool’s bet: that the GSE conservatorships will end anytime soon…


December 14, 2018 - IMFnews

FHFA’s Proposed Rule on Credit Scores a Setback for Vantage Score

VantageScore is not happy with the FHFA's latest action...


December 14, 2018 - IMFnews

Non-Agency MBS Outstanding Nears the End of an 11-Year Tunnel

Roughly $458.6 billion of single-family non-agency MBS were outstanding at September 30, a scant 0.1 percent drop from June…


December 13, 2018 - IMFnews

Short Takes: Headed Into Receivership: Fannie and Freddie? / Politically Pragmatic / No Life in the Common / Coming Soon: A Platform Closure at Ocwen / A New 52-Week Low

Federal Financial Analytics calculates the trigger will be pulled by mid-2019.


December 13, 2018 - IMFnews

‘Small’ Mortgage M&A Deals are Getting Done, Larger Ones Remain Elusive

Mark Stafford, a principal in MS Capital Advisors, New York, said larger firms are content to stay the course…


December 13, 2018 - IMFnews

Finance of America Will Pay $14.5 Million to Settle FHA Claims Tied to One of Its Acquisitions

The complaint further alleges that company executives have been aware of the poor EPD rates since 2011 but apparently did nothing to resolve the problem.


December 13, 2018 - IMFnews

Verus Packages More Nonprime Mortgages for Investment Properties in MBS

Loans from 36 lenders will be included, led by Sprout Mortgage with a 43.3 percent share.


December 13, 2018 - IMFnews

Mr. Cooper Lands New Vice Chair and CFO – for $4.3 Million a Year

Marshall has a long resume in financial services, including stays at Bank of America, The Blackstone Group and other shops…


December 13, 2018 - IMFnews

Home-Equity Lending Still Can’t Gain Traction Despite Strong Residential Values

The home-equity market peaked back in 2007 at $1.133 trillion in outstandings. It has been in an 11-year swoon since then.


December 12, 2018 - IMFnews

Short Takes: loanDepot Loses its Product Chief / Bill Dallas and Cloudvirga / Kudos on the Calabria Pick from HFSC Chairman Hensarling / A Candidate Himself Once? / A New Hire for Vendor Valuation Partners

Cloudvirga, at one time, was headed by industry veteran Bill Dallas...


December 12, 2018 - IMFnews

Pick of GSE Critic Mark Calabria Will Mark a New Era at the FHFA

Tom Piercy of Incenter Mortgage Advisors: “Calabria is not an advocate for our industry – but he is also being appointed by the president, who does not want housing to falter between now and 2020.”


December 12, 2018 - IMFnews

In the Midst of the Holiday Season, Lenders Feel Glum About 1Q19 Originations

Some good news: Fannie chief economist Doug Duncan said continued strength in borrower demographics and the labor market offer hope that conditions should stabilize in 2019 and may even improve.


December 12, 2018 - IMFnews

It’s LO ‘Recruiting Season’ and That Means What?

It stands to reason that with production declining mortgage firms might have the upper hand over their sales personnel, but it’s never that simple...


December 11, 2018 - IMFnews

It’s Official: Trump Picks GSE Critic Mark Calabria to Head the FHFA

The nomination had been expected for several weeks now and paves the way – quite possibly –for limitations on GSE pilot programs, loan parameters and secondary market liquidity.


December 11, 2018 - IMFnews

Short Takes: The Six Horsemen of the GSE Apocalypse / If You Have to Ask, You’re in Trouble / G-Fees Hold Steady / Plaza Home’s New Tag Line / NAMB Giving Away Software for Free

NAMB is giving away free software...


December 11, 2018 - IMFnews

CFPB Imposes Zero Civil Money Penalty for Violations, Again

The CFPB alleged that State Farm violated the Fair Credit Reporting Act.


December 11, 2018 - IMFnews

One GSE Shareholder Speaks Up: Calabria Will be Constrained in His Mission to Dissolve Fannie and Freddie

James Fenkner says Calabria will be “constrained in his mission to dissolve Fannie and Freddie.”


December 11, 2018 - IMFnews

Neuberger Berman Sources Majority of Loans for Non-QM MBS from Sprout Mortgage

Based in Henderson, NV, Sprout is a correspondent lender.


December 11, 2018 - IMFnews

Retail Lost Share in Major Product Groups

However, retail remains king of the jumbo sector…


December 10, 2018 - IMFnews

Short Takes: Hope in Cash-Out Refis / loanDepot’s Refi Stats / Position Filled / Chicago-Area Lender Gets Fannie Mae Approvals / More on Calabria and the FHFA Job / Mulvaney, Mnuchin Up for the Chief of Staff Job? / Waterstone Hires Rocky (Rockwell)

Fannie Mae has approved Neighborhood Loans, Lombard, IL, as a new seller/servicer...


December 10, 2018 - IMFnews

New MBA President Broeksmit Toes the Party Line on GSE Reform

The MBA chief also makes it blatantly clear that he is no fan of any “recap and release” proposals for the government-sponsored enterprises either...


December 10, 2018 - IMFnews

Caught in the Market’s Down-Draft: Texas Capital, the Nation’s Second Largest Warehouse Provider

The warehouse lending sector has experienced a noticeable decline in profit margins…


December 7, 2018 - IMFnews

What We’re Hearing: Mark Calabria to Head the FHFA (Looks That Way) / Can Mulvaney Fix the U.S. Debt Problem? / Keeping the Debt Clock at the HFSC? / Kraninger Yes, Michael Bright No / Nomura and Ditech (More) / CMG Mortgage Hires Regency Executive / Home Point Goes All-TPO / The Midwest Mortgage Mecca

If Michael Bright is not confirmed in the current Congress, President Trump will have to re-nominate him...


December 7, 2018 - IMFnews

How to Shrink the GSE Footprint Without Having to Ask Congress To Do Anything

Want to shrink Fannie and Freddie? Cut investor loans, then move on to cash-out refis…


December 7, 2018 - IMFnews

Agency MBS Issuance Not-So-Bad in November 3Q18, Off by Just 1.0 Percent

Agency production last month was buoyed by an increase in securitization of refinance loans…


December 7, 2018 - IMFnews

Indiana Bank Pays off Debt to Home Point and Agrees to Buy its Warehouse Unit, NattyMac

Founded by industry vet Willie Newman, Home Point is owned by investment funds managed by Stone Point Capital...


December 6, 2018 - IMFnews

Short Takes: Stock Market Ugly / Bring on the Cash-out Refis? / GSE Stocks Can’t Catch a Break / Carrington Readies First Non-QM MBS / New Penn Unveils New Name: NewRez

Carrington Mortgage is working on its first non-QM securitization...


December 6, 2018 - IMFnews

CFPB Accuses Nevada Nonbank of Misleading Vets on IRRRLs in San Antonio

The government charges, the “apples to apples” comparisons on refis shown to prospective customers by Village Capital’s LOs were flawed and had “inaccurate” results.


December 6, 2018 - IMFnews

Its Share Pricing Sinking, Ocwen Issues Update, Says it Will Enter TPO Market, Acquire Servicing Rights

Ocwen, which paid $360 million in cash for PHH, also disclosed: “The purchase price we negotiated contemplated PHH could continue to incur losses.”


December 6, 2018 - IMFnews

Purchase-Loan Market Began Softening in 3Q but Experts Anticipate a Rebound

Purchase loans accounted for over 80.0 percent of third-quarter production at Wells Fargo, PennyMac Financial, Caliber Home Loans, U.S. Bank and Amerihome…


December 6, 2018 - IMFnews

Kathy Kraninger is About to Head the CFPB, but Who is She?

Observers note that CFPB nominee Kraninger has no track record in financial services…


December 5, 2018 - IMFnews

Short Takes: What’s in a Name? Answer: $300 Million / Come On, Mick! We Thought You Were Pro-Business! / $300 Million? At Least Software Firms Will Make Out / Home Flips Headed for a Fall? / Who’s Doing Your Underwriting? / Law Firm Overcharges Fannie and Pays for It

Mulvaney has a reputation of being pro-business. Is it possible he might turn the name-change ship around to save American companies $300 million?


December 5, 2018 - IMFnews

HFSC Hearing on GSE Bill Postponed. Time is Running out for Chairman Hensarling…

Some industry lobbyists believe the Senate Banking Committee hearing on GSE pilot programs will not be held this year at all.


December 5, 2018 - IMFnews

The Mortgage M&A Tsunami May be Late This Time Around

In past downturns, large lenders and servicers were either sold outright or they joined forces with like-sized companies…


December 4, 2018 - IMFnews

Short Takes: Nomura and Ditech? / Ocwen Sets a New Low / Fannie, Freddie and NPL Sales / Citadel’s Growth in Nonprime Servicing / A New Hire for Mortgage Network

Fannie Mae and Freddie Mac continue to sell NPLs but for how long?


December 4, 2018 - IMFnews

Senate Dem Report Accuses Mulvaney of Cherry Picking the Law to Promote an ‘Ideological Agenda’

The report says that while running the agency, Mulvaney has “cherry-picked the law to promote his ideological agenda.”


December 4, 2018 - IMFnews

With No Chance of Passage, Hensarling’s GSE Reform Bill Gets an Airing on Thursday

When the measure was first introduced, one housing lobbyist quipped: “This is like someone laying on their death after drinking and sinning and finally realizing they need to get baptized. This is not being introduced for good political reasons.”


December 4, 2018 - IMFnews

Warehouse Commitments Shrink as Nonbanks Struggle with Originations

Commitment levels are decent, but nonbanks just aren’t using the lines they’ve been granted.


December 4, 2018 - IMFnews

OCC Issues Warning About Nonbanks and Looser Underwriting

OCC examiners noted greater use of asset dissipation underwriting, a practice used to qualify borrowers using a “hypothetical income stream from their asset liquidation rather than debt-to-income ratios.”


December 3, 2018 - IMFnews

Freddie Brings Conventional Financing to New Generation of Manufactured Homes

Although the manufactured home industry is lobbying for chattel lending, Fannie Mae and Freddie Mac still require real property for collateral.


December 3, 2018 - IMFnews

Prime Non-agency MBS May Plateau, Nonprime and Expanded Prime Expected to Grow

KBRA said nonprime issuance in 2019 should benefit from an increase in origination volume and other efficiencies…


December 3, 2018 - IMFnews

VA Prepares to Move Against Abusive Cash-Out Refis, but Details are Light

The VA notice says there are “urgent and compelling circumstances” that warrant issuing an interim final rule that will go into effect quickly.


November 30, 2018 - IMFnews

What We’re Hearing: CNBC ‘Mad Money’ Host Cramer Slams Nonbanks / Questionable Research? / Dan Gilbert of Quicken Fires Back / The Counter-Hedge of Mortgage Servicing Rights / It’s LO Recruiting Season, Pull Out the Check Book / Prestwick MSR Auction / Ellie Mae’s New CFO

Did CNBC's Jim Cramer do any research on the mortgage industry before he opened his mouth?


November 30, 2018 - IMFnews

Seasonality and Higher Rates Spell Layoffs for Many

Mortgage recruiter Rick Glass: "Expenses are simply out of alignment. Many shops are telling me they have no more room."


November 30, 2018 - IMFnews

Senate Moves Ahead with Kraninger’s CFPB Nomination

President Trump nominated Kraninger in June…


November 30, 2018 - IMFnews

Retail Channel Posted Highest FICO Scores in 3Q18

However, average debt-to-income ratios were all over the map…


November 29, 2018 - IMFnews

Short Takes: News Soon from Trump on the FHFA Job? / A Place-Holder / A Bright Spot, If You Can Find One / The Better Question Might Be: Who Isn’t Going Digital? / Upcoming: CFPB Advisory Board Meeting

Joseph Otting would not be the permanent director but would be a place-holder until...


November 29, 2018 - IMFnews

MBA: Origination Profits Down 48.3 Percent from a Year Ago

Lenders and their warehouse providers have been openly worrying about thinning profit margins for several quarters now with liquidity a primary concern.


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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.

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