Short Takes: FHA in a Hiring Mode / CAIVRS, Old as Dirt? / Likening the GSEs to ‘The Blob’ And His Son / Level One Ponies up to the Mortgage Bar / MSR Auction from The Prestwick Group July 12, 2018 Paul Muolo One slide in the GSE presentation is entitled, “The Blob and the Return of the Blob,” a reference to the horror movie classics of the late 1950s…Read More
FHA Commissioner Montgomery Worried by High DTIs, Obsolete Technology, and a Ton of Vacancies July 12, 2018 FHA Commissioner Brian Montgomery this week laid out the chief items on his worry list, including high debt-to-income ratios, obsolete technology, and dozens of vacancies caused by a brain-drain at the government’s mortgage insurer.Read More
New FHA Commissioner Montgomery: Risk-Sharing with PMIs not a Priority July 11, 2018 Paul Muolo FHA Commissioner Brian Montgomery on risk-sharing with private MI firms: Not an immediate concern…Read More
Short Takes: Show FHA the Money / Blame COBOL / Home Point Lops Off Some Branches / StoneHill Expands / A Key Hire for Equity Prime Mortgage July 11, 2018 Paul Muolo Home Point Financial, Ann Arbor, MI, said it will “transition” some of its East Coast retail branches to Northpointe Bank...Read More
Agencies Leaning More on the ‘QM Patch’ July 9, 2018 John Bancroft The share of high-DTI loans has continued to go up this year…Read More
Phoenix Capital Selling Fannie/Ginnie Servicing Package July 9, 2018 Paul Muolo A few weeks back, Phoenix Capital was in the market with a flow MSR offering that carried a maximum size of $540 million…Read More
Short Takes: Those Ginnie Warnings on VA IRRRLs Apparently Worked / The Trump GSE Plan, Going Nowhere? / NJ Lender Launches Call Center in SC / Churchill in a Hiring Mode / Walker & Dunlop Hires Capital Markets Executive July 9, 2018 Carisa Chappell and Paul Muolo Although loan production is down this year, that isn’t stopping some lenders from moving forward with expansion plans.Read More
Trump Plan Calls for Moving USDA Housing Programs to HUD July 5, 2018 George Brooks Rep. Kenneth Lucas, R-KY, worried that rural communities face challenges that are far different than those faced by typical FHA or VA homebuyers…Read More
Short Takes: Megabank Bidding on VA IRRRLs / HUD Didn’t Fix the Mess / Blame the Dodd-Frank Reform Act / Applies to REMICs Only / JPM Remains the FHLB Advance King July 5, 2018 Carisa Chappell and Paul Muolo Needless to say, the VA IRRRL issue is complicated...Read More
Rising Rates Take a Bite out of FHA Lending July 2, 2018 George Brooks Fairway Independent Mortgage ranked first among all FHA purchase lenders with $880.8 million in 1Q18...Read More
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