Mortgages

Impac Mortgage Holdings will sell up to $600 million of non-qualified mortgage loans to Starwood Property Trust over the next 12 months that will be securitized.

Ginnie Mae is looking to start a pilot program to securitize digital mortgages as early as 2019, but issuers would not be able to commingle loans using traditional paper files in those deals.

The groups applauded a proposal to establish minimum GSE capital requirements, but called for more immediate steps to release the companies from conservatorship.

Risk management and technology systems at the Federal Housing Administration lag decades behind Fannie Mae and Freddie Mac and desperately need to be revamped, according to a top official at HUD.

New securitizations backed by reverse mortgages are now at a low not seen in two years, signaling that higher volumes seen in recent months may be tapering off.

The agency proposed new minimum capital requirements for Fannie Mae and Freddie Mac that would only go into effect if the government ends its conservatorships.

All five – Plaza West Covina Mall (Calif.), Franklin Park Mall (Ohio), Parkway Plaza (Calif.), Capital Mall (Wash.), and Great Northern Mall (Ohio) – were built in the 1970s and have JCPenney or Sears as a major tenant.

Robert Broeksmit, a career mortgage industry executive, will succeed David Stevens as the president and CEO of the Mortgage Bankers Association.

Blame the decline in the oil and gas industry; many 2014 vintage deals have exposure to a number of multifamily and hotel properties in North Dakota and Texas, according to Fitch.

Since its inception, the qualified mortgage rule has been synonymous with loans purchased by Fannie Mae and Freddie Mac or guaranteed by government agencies. But a broader QM definition could change that by creating more competitive private-label options.

Anticipated changes to the qualified mortgage rule will give lenders more options and force them to rethink their views on risk.

There are almost 7 million coastal homes facing more than $1.6 trillion in potential storm-surge reconstruction expenses this year, representing a 6.6% cost increase from last year's hurricane season.

In the continued absence of legislation, Fannie Mae and Freddie Mac’s regulator announced work on a new capital framework.

Government-sponsored enterprises Fannie Mae and Freddie Mac are in a race to offer services and technology that help mortgage bankers raise cash from mortgage servicing rights.

JPMorgan Chase has largely sat on the sidelines of Federal Housing Administration lending due to compliance concerns. But recent regulatory relief efforts have Chase Home Mortgage CEO Mike Weinbach eyeing an opportunity to jump back in.

Although the Consumer Financial Protection Bureau is loosening certain mortgage rules, others such as restrictions on loan officer compensation and state-level regulation will likely persist, according to industry attorneys.

The post-recession boom in auto loans and credit cards for borrowers with marred credit histories has been winding down in recent months.

Unlike the sponsor's previous four deals, which were backed at least in part by jumbo loans, all of the collateral for FSMT 2018-3INV is eligible to be purchased by either Fannie Mae or Freddie Mac.

Acting CFPB Director Mick Mulvaney suggested that digital mortgages should be held to different standards than ones originated by credit unions and banks.