Mortgage Originators

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

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.”


November 5, 2018 - IMFnews

Short Takes: The Election Day Crystal Ball and the GSEs / One More Try at a GSE Bill? / Hensarling Wants to Bury the GSE Model / John Britti’s Extra Pay / A New Texas Branch for Waterstone

On Friday, long-time GSE critic Rep. Jeb Hensarling, R-TX, took one more rock to Fannie and Freddie...


November 5, 2018 - IMFnews

Mutual of Omaha’s MB Inks Deal to Buy Assets of BBMC

No details were provided regarding the assets that Synergy will take on…


November 5, 2018 - IMFnews

Ahead of 3Q18 Results, Impac’s Share Price Falls to a 52-Week Low

Impac’s share price fell to a new 52-week low Monday: $5.10.


November 5, 2018 - IMFnews

New Residential in Talks with Multiple Lenders to Buy Non-QM Loans

Nierenberg, a former Bear Stearns executive, stressed that New Residential is going to be relatively conservative with its underwriting standards for non-QMs.


November 5, 2018 - IMFnews

As the Clouds Roll In, Some Lenders Turn to Non-QM, Including FGMC

PIMCO, which controls FGMC, is no stranger to the non-QM market…


November 5, 2018 - IMFnews

Mortgage Brokers Gain Share in FHA Lending, but Lose Ground on VA

United Shore Financial Services ran the top FHA wholesale-broker program, generating $1.53 billion during the third quarter.


November 2, 2018 - Inside FHA/VA Lending

Around the Industry

Reporting on VA Loans Impacted by Natural Disaster. The Department of Veterans Affairs is cautioning servicers against reporting as delinquent VA loans that are impacted by a natural disaster. The electronic default notification (EDN) should only be reported prior to the 61st day of delinquency if the borrower intends to abandon the property or pursue an alternative to foreclosure, according to VA. Cite “property problems” as the reason for default, the agency added. On the 61st day of delinquency, servicers should use “casualty loss” as the reason for default when reporting the EDN. This will help VA identify loan defaults caused by a natural disaster. Texas USDA Guaranteed Housing Program See Increased Volume. The USDA guaranteed single-family guaranteed housing programs in the Lone Star State are experiencing significant volume increases, and consequently, ...


November 2, 2018 - Inside FHA/VA Lending

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

Certain potential changes could materially affect origination volume and determine the government-sponsored enterprises’ direction going forward, according to analysts. One of those changes could have a significant impact on the FHA market. Wells Fargo Securities analysts recently looked at three potential developments in the Fannie Mae/Freddie Mac sphere and evaluated their effects on the broader mortgage market. Two of those potential changes – loan limits and guarantee fees – are controlled directly by the Federal Housing Finance Agency, while the third relates to the temporary GSE qualified-mortgage exemption, or “QM patch,” which could affect the FHA market. All three factors loom over the mortgage landscape as the FHFA expects a new director in January 2019, who is likely to be more right leaning and could shift the focus back to shrinking the ...


November 2, 2018 - Inside FHA/VA Lending

Brokers Gain Share in FHA Lending, But Fall Back in VA Production

Wholesale-broker production of FHA loans was up 8.1 percent from the second to the third quarter of 2018, making it the fastest-growing channel in the program, according to a new Inside FHA/VA Lending analysis of Ginnie Mae mortgage-backed securities data. However, the volume of brokered VA loans securitized during the third quarter fell 4.0 percent from the previous period, the only channel to show a loss over that period. Correspondent production remained king in the FHA segment, with volume rising 7.4 percent from the second quarter. Correspondents generated 48.9 percent of FHA loans delivered into Ginnie MBS pools over the first nine months of the year. PennyMac Financial and Amerihome Mortgage duked it out as the top correspondent platforms in the third-quarter FHA market. Retail was runner-up with a 35.6 percent share of FHA year-to-date business, with wholesale-broker accounting for just ... [Charts]


November 2, 2018 - Inside Nonconforming Markets

Citadel Launches Program for Up to 35 Units

Citadel Servicing formally introduced a mortgage program last week for properties with between five and 35 units. The properties can have any commercial use as long as at least one unit has a spot for a bed. “Basically, if it has a bed or living residence attached to it, we can fund it,” said Daniel Perl, Citadel’s CEO. The Outside Dodd-Frank Plus program is offered through Citadel’s wholesale channel. Loan amounts up to $3.0 million are available for loan-to-value ratios up to 70.0 percent ...


November 2, 2018 - Inside Nonconforming Markets

Fix-and-Flip Remains a Profitable Niche

The fix-and-flip financing market saw a big upswing following the housing market collapse, when there was a bounty of properties for sale at bargain prices. Since then, the market has normalized. But experts speaking on a panel at the Residential Mortgage Finance Symposium sponsored by the Structured Finance Industry Group this week in New York say fix-and-flip financing still holds a lot of promise for lenders willing to learn its fine points. Dash Robinson, president of Redwood Trust ...


November 2, 2018 - IMFnews

What We’re Hearing: The Strange Case of Fannie Mae and Freddie Mac / Pro-Pilot Programs / Warren Buffett and the GSEs / Mortgage Recruiter by Day, Opera Singer by Night / Lima One Makes its Move / Magnetar?

A huge non-QM expansion for Athas Capital?


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