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Inside Mortgage Trends

September 28, 2018

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MSR Values Up Again in 2Q18, But Bank Footprint Continued to Shrink

Commercial banks and savings institutions valued their mortgage-servicing rights at historically high levels at the end of the second quarter, even as industry leaders continued to pull back from the sector. A new Inside Mortgage Trends analysis of call-report data reveals that the industry serviced $3.563 trillion of single-family mortgages for other investors, usually loans held in mortgage-backed securities trusts. The industry total servicing for others was down ... [Includes one data chart] Read More

Nonbanks Gained Market Share in 2Q18

State-licensed mortgage lenders originated $239.70 billion of home mortgages in the second quarter of this year, according to nonbank mortgage call report figures compiled by the Nationwide Multistate Licensing System. The sector posted an 18.9 percent increase in origination volume from the first three months of the year, slightly more than the 17.1 percent rise in total first-lien originations over that period. As a result, the nonbank share of new production ... [Includes two data charts] Read More

The Money Source Takes Aim on Subservicing

The Money Source hopes to double its volume of subservicing contracts to almost $8.0 billion by yearend, capitalizing on what it feels is an underserved market: Smaller clients that don’t receive hands-on service from the giants of the industry, namely Cenlar and Dovenmuehle. At least that’s the view from TMS President Ali Vafai, who says there’s a huge “void” of subservicers that can effectively handle high-touch product, especially Ginnie Mae receivables. “The problem is that some Ginnie subservicers ... Read More

New Automated Underwriting Tools Announced

Two new mortgage underwriting solutions designed to help lenders streamline their current mortgage workflows and reduce cost, as well as enable them to assist non-prime borrowers to obtain home loans, have hit the market. CoreLogic’s AutomatIQ Borrower streamlines underwriting by digitizing, standardizing and automating borrower analysis and verification. The tool bridges the gap between point-of-sale and underwriting to create a smoothly running mortgage origination process ... Read More

Machine Learning, Blockchain Promise Efficiency

Lenders looking for efficiencies should adopt artificial intelligence, machine learning and blockchain, according to various technology vendors. They claim that the technology can be implemented without exceptionally high costs but caution that early adopters face some risks. AI is generally defined as a collection of machine-learning algorithms assembled for certain tasks. Blockchain is distributed ledger technology. The tech was an area of focus at the ABS East conference ... Read More

Bank Mortgage Repurchases Tumble in 2Q18

Commercial banks and savings institutions repurchased only $422.7 million of single-family mortgages during the second quarter of 2018, according to an analysis of call-report data by Inside Mortgage Trends. It was the lowest three-month repurchase total for the industry since regulators began collecting this data back in 2008. Repurchases, including other indemnification for investor losses, were down 42.3 percent from the first quarter. The call-report figures ... [Includes one data chart] Read More

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