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Volume 2018 - Number 43

November 15, 2018

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Private MIs Gobble Up More Market Share in Third Quarter Despite Growth in FHA Sector

Private mortgage insurers expanded their combined footprint in the primary MI market during the third quarter mostly because of a sharp downturn in VA home loan guaranty activity. [Includes two data charts.]

Impac’s Future Looks Cloudy as Firm Turns to MSR Sales to Bolster Results. Betting the House on Non-QM Lending?

Although Impac Mortgage Holdings lost $142.8 million over the past two quarters, company management continues to be bullish on its future, laying the groundwork for a further expansion into the non-qualified loan market.

House Power Shift May Have Little Impact on GSE Reform and Dampen Regulatory Relief Prospects

Midterm election results will likely push any housing-finance reform legislation further away, slow deregulatory efforts by Trump appointees, and dash any chances of another regulatory relief bill, according to analyses of the results.

As Mortgage M&A Heats Up, Panorama Partners Ready to Pounce; Will Ocwen be a Buyer Again?

With originations slowing and scores of lenders pondering exit strategies, Panorama Partners is poised to make a big splash as a buyer of companies in the quarters ahead, according to Eric Egenhoefer, who’s teaming up with the private equity firm.

Large Judgement Against Waterstone Mortgage in Limbo After Ruling by Appeals Court on Arbitration Issue

Waterstone Mortgage has won temporary relief on the $10.6 million in damages it had been directed to pay to 175 loan originators as part of a class-action lawsuit involving employee compensation.

Mortgage Delinquencies Spike in 3rd Quarter on Seasonal Issues; Foreclosures Limited

The delinquency rate on mortgages increased significantly in the third quarter of 2018 compared with the previous period, according to Inside Mortgage Finance’s Large Servicer Delinquency Index. Industry analysts suggest that the rise was largely related to seasonal factors. [Includes one data chart.]

FHA’s FY 2018 Audit Shows MMIF in Great Shape, HECM Continues to Bleed Forward Portfolio

Results of an annual audit of the FHA’s Mutual Mortgage Insurance Fund turned out better than expected, showing improvements in the fund’s economic net worth and its closely watched capital reserve ratio. [Includes one data chart.]

Mortgage Market at a Glance, November 16, 2018

Weekly mortgage rates and application survey data.

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.

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