Is non-QM lending the future of housing?

Is non-QM lending the future of housing?

Lenders begin offering non-agency products

FOMC considers ending taper in October

Members debate one final larger reduction

CNBC mortgage rates coverage really confuses readers

And the reaction isn't good
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The Ticker

Fannie, Freddie foreclosure inventory hits new peak in Florida

Foreclosures in judicial states dwarf non-judicial states
July 9, 2014
According to a new report from the Wall Street Journal, the amount of foreclosure inventory held by Fannie Mae and Freddie Mac in Florida has reached a new high, topping the previous peak which was reached at the height of the foreclosure crisis in 2010.
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Wingspan looks to grow in Florida

Hiring for numerous positions
July 9, 2014
Wingspan Portfolio Advisors is looking to significantly expand its offices in Melbourne, Florida, hiring for a variety of mortgage-related positions.
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Morgan Stanley surprised by reported Citi settlement size

Represents high proportion of bond issuance
July 9, 2014
According to Morgan Stanley analysts Betsy Graseck and Manan Gosalia, even a $7 billion settlement may be too dire, when compared to the recent JPMorgan settlement.
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Housing will crash again and here’s why

The imaginary perpetual motion machine of home equity
July 9, 2014
The speculative excesses that inflated the previous housing bubble continue to feed the magical thinking, and to feed the housing bubble that will crash again, argues Charles Hughes Smith at Of Two Minds.
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Here's how HARP misses the mark

5 years later and steady rate declines
July 9, 2014
While HARP is there to help the borrowers that were reliable during the financial crisis, there is one big problem in the program.
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Leaving a loan estimate audit trail

Best practices leverage technology for TILA-RESPA compliance
July 9, 2014

With all of the dynamics in the loan origination process, it is clear the best practice must leverage technology to empower the consumer. 


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Citi nears resolution on massive mortgage fraud probe

Follows string of high profile settlements
July 8, 2014
The Justice Department also has been in talks with Bank of America Corp. to resolve civil probes over its mortgage business. The Citigroup mortgage investigation is among a handful of cases relating to bank conduct ahead of the 2008 financial crisis still pending before the Justice Department.
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Fed reform legislation increases oversight

"Lifts this veil of secrecy"
July 8, 2014
Two congressmen introduced the Federal Reserve Accountability and Transparency Act in order to increase oversight of the Federal Reserve.
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Radian delinquencies drop below 50,000

Decline continues as Radian writes $3.53B in insurance
July 8, 2014
Radian Guaranty Inc. on Tuesday released data for primary mortgage insurance delinquencies for June 2014, showing a continued decline.
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Karl Case: The housing market is a “crapshoot”

Struggles to recover from Great Recession
July 7, 2014
The housing market isn’t doing so hot according to one famous housing expert, going far enough to call it a crapshoot.
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