Lenders generated a hefty $2.375 trillion of first-lien home loans last year, the strongest the market’s been since 2006. Volume was up 8% from the third to the fourth quarter, but not all lenders took advantage of the refi wave. (Includes two data charts.)
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While the Consumer Financial Protection Bureau’s plan to extend the qualified-mortgage patch was not unexpected, its proposal to eliminate the debt-to-income threshold has sparked a debate.
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The Financial Stability Oversight Council would have to complete a number of steps before it can subject nonbank lenders and servicers to increased over-sight and prudential standards.
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The recent IPO of nonprime lender Velocity Financial should pave the way for other like-minded deals. Right? But not so fast. The stock market can be an unforgiving place.
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Investment banking firms hoping to land the Fannie/Freddie “re-IPO” con-tract need to convince FHFA’s GSE advisor first. Problem is: We don’t know who the advisor is, at least not yet. We may soon.
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Stable interest rates and seasonal trends will lead to a decline in mortgage originations in the first quarter of 2020. Lenders are taking steps to adjust to a reduction in refi business.
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While industry groups argue the integrated mortgage disclosure rule is overly burdensome for lenders, consumer advocates caution the CFPB from taking any drastic steps.
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Since the launch of the single security, investors have increasingly turned to the use of specified pools rather than the TBA market, said Bob Ryan, a former FHFA official and one of the architects of the UMBS.
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