Profits on originations by independent mortgage banks and mortgage subsidiaries of chartered banks declined in the fourth quarter of 2012 compared with the previous quarter, according to the Mortgage Bankers Association.
Fannie Mae and Freddie Mac suffered lower losses on their nonprime mortgage holdings in 2012 compared with previous years as mortgage performance has stabilized and investor demand for vintage non-agency mortgage-backed securities has increased.
Twenty state regulators adopted uniform tests for mortgage loan originators on Monday, easing compliance for MLOs doing business in multiple states. State testing has been required since 2009 due to the Secure and Fair Enforcement for Mortgage Licensing Act.
The outstanding carrying value advances for the 12 Federal Home Loan Banks increased during 2012 as the demand for advances showed signs of regional stabilization and certain FHLBank members increased their use of advances, according to the recent annual report by the FHLBank Office of Finance.
According to an analysis by Fitch Ratings, the overall charges for a simple jumbo non-agency MBS across all note-holders would increase to between 6.3 percent and 8.2 percent under the new proposal.
Moody’s said the JPMorgan Mortgage Trust 2013-1 has a weak representations and warranties framework, a restrictive rep and warrant enforcement mechanism and a lack of risk retention by Chase.
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.