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Inside Mortgage Finance

July 25, 2019

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2Q19 Mortgage Originations Hit Highest Level in Years

Lenders of all shapes and sizes reported eye-popping increases in production volume from the first to the second quarter of 2019. At the midway point, this year was running 11.5% ahead of the pace in the first half of 2018. Read More

An Ugly 2Q19 for MSR Markdowns

Lower interest rates resulted in strong originations in the second quarter, causing lenders to smile. But for firms with large MSR portfolios, asset writedowns were the norm. Read More

More Depositories Entering the Non-QM Market

Waterstone Bank plans to test the waters of the non-QM market, a niche that most depositories have avoided. Is this part of a growing trend or just an isolated detour into the unknown? Read More

Time to Consider the Public Utility Model for the GSEs?

Freddie Mac’s former CEO Don Layton makes a case for the GSEs as public utilities. Read More

MI Bill Won’t Stop FHA From Losing Market Share

The House approved legislation discounting FHA single-family mortgage premium payments for certain first-time homebuyers. However, the move will not stop FHA’s market share from skidding further. Read More

FHA Suspends DPA Guidance Indefinitely

FHA has indefinitely suspended its guidance on downpayment assistance provided by government entities. The decision comes just a week after a federal judge granted an injunction on the implementation. Read More

BofA Stuck with Fair Servicing Suit — For Now

A federal judge approved a fair servicing lawsuit against Bank of America and Safeguard Properties based on disparate-impact theory. But the fate of the suit is still uncertain because of inconsistent case law. Read More

Mortgage Grapevine: Mystery MSR Buyers are Lakeview and M&T

Earlier this year, Wells Fargo offloaded roughly $20.7 billion in Ginnie servicing rights. The buyers? A bank and a nonbank. Meanwhile, the Equifax data hack will cost upwards of $700 million in settlement costs. Read More

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