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Record Non-QM Originations at Angel Oak
Growth in non-QM home lending has driven quarterly mortgage production at Angel Oak Companies to an all-time high. The origination of loans that didn't meet Qualified Mortgage requirements came to $0.664 billion during the three months that...

Large Non-Performing GSE Portfolio Sells
A significant portfolio of non-performing government-sponsored enterprise single-family loans that hit the market last month has found a buyer. In September, the Federal National Mortgage Association offered a portfolio of 10,780 non-performing...

Mortgage Rates Soar, Could Sink in Next Report
An expected surge in mortgage rates came to fruition this week. The latest forecast has fixed rates tumbling in next week's report. A new index for adjustable-rate mortgages moved lower. A stunning 19-basis-point surge from the preceding week left...

California Pummeled by Mortgage Layoffs
A Mortgage Daily analysis of individual states' employment data has uncovered thousands of previously unreported mortgage-related layoffs this year. California employees suffered the most, while banks took a beating. Stearns Lending LLC advised the...

Flagstar Hires Former PrimeLending President
The former president of PrimeLending has been hired by Flagstar Bank to work in its retail production division. His career spans several major home lenders. PrimeLending announced in October 2017 that it had replaced its president of five years,...

Man Murdered While Appraising Property
DETROIT -- A Harrison Township man is facing murder and other charges after prosecutors say he shot two men attempting to secure his former business that had been foreclosed on. David Erwin Unger, 55, shot and killed 56-year-old Mark Siecinski of...
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Post-Crisis Low for CMBS Delinquency
Delinquency on securitized commercial real estate loans has fallen to its lowest level during the decade that has passed since the financial crisis. Delinquency of at least 30 days on loans owned by commercial-mortgage backed securities trusts...

Freddie’s Delinquency Best in 7 Mths, Biz Up Again
Delinquency at the Federal Home Loan Mortgage Corp. has fallen each month this year and now sits at a seven-month low. Secondary lending activity, meanwhile, moved higher for the third consecutive month. The $2.1234 trillion total mortgage...

Biggest MI Firm Not All-In on Mfg Housing Program
The nation's largest mortgage insurance company will not automatically align its own guidelines with guidelines for a new manufactured housing program from Fannie Mae. Genworth Mortgage Insurance disclosed Monday that its guidelines have been...

Interim Chief Named at Ocwen
The chief investment officer of Ocwen Financial Corp. will temporarily take the reins from the company's departing chief executive officer as Ocwen 2.0 is assembled. In April, the West Palm Beach, Florida-based company disclosed that its president...

Surge in South Drives Up U.S. New Home Sales
The sale of new single-family properties turned North last month, and it was the South that was responsible for most of the gain. A shift in pricing patterns was detected. New home sales during May numbered a preliminary 65,000, according to data...

Supreme Court Declines to Hear FHFA MBS Case
The last holdout in a swarm of lawsuits filed in 2011 against underwriters and issuers of mortgage-backed securities has been resolved by the country's high court. In September 2011, the Federal Housing Finance Agency filed several lawsuits on...

Genworth M.I. Changes Mfg Housing Guidelines
Genworth Mortgage Insurance is aligning its own guidelines with new government-sponsored enterprise requirements for manufactured housing transactions. Earlier this month, Fannie Mae unveiled MH Advantage, an initiative that provides more flexible...

Outlook Improves for Home Purchase Financing
The forecast for the origination of loans to finance single-family home purchases has been raised for both this year and next year. From April 1 through June 30 of this year, overall home lending volume -- including purchases and refinances -- is...

Supreme Court Could Hear CFPB Constitutionality Case
A decision by a federal judge in New York could bring the constitutionality of the Consumer Financial Protection Bureau before the nation's highest court. U.S. District Judge Loretta A. Preska in Manhattan ruled Thursday that the structure of the...

Wells Fargo Cuts 400 Mortgage Jobs
A nationwide round of layoffs by Wells Fargo Home Mortgage will impact 400 employees -- with a majority in two states. Falling loan originations are behind the job cuts. The Des Moines, Iowa-based subsidiary of Wells Fargo & Co. has advised 400...

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