JPMorgan Chase, whose chairman and CEO Jamie Dimon has contemplated leaving the FHA program, originated $1.14 billion during the first half, a 55 percent decline from a year ago.
The FHFA IG job candidate must be able to withstand "moderate to arduous physical exertion involving walking and standing, use of firearms, and exposure to inclement weather."
The sale of Shelter is one of the largest mortgage M&A deals of the past few months and could mark the beginning of an active second half of industry consolidation.
“We’re looking for production and we have the appetite,” said Jeff Lemieux, who heads the third-party lending channel of Bayview. "We’d like to hire them as soon as possible.”
“The new guys are quickly gaining on the traditional players,” said Ginnie president Ted Tozer. “Some have grown from zero to $5 billion to $10 billion overnight. We’re concerned about their infrastructure and capital.”
The study’s findings challenge certain beliefs about FHA lending, namely that high insurance premiums, lender overlays and low credit scores are denying many qualified borrowers access to the program.