According to new analysis from the Housing Finance Policy Center team at the Urban Institute, there has been “surprisingly little impact” on the mortgage origination numbers since QM went into effect in January.
New Penn Financial entered into the burgeoning non-Qualified Mortgage territory and introduced the Home Buyer Power product. The product appeals to high-end customers who may be paying expensive metro-area rents.
Impac Mortgage Holdings reported second-quarter net earnings of $82 thousand or $0.01 per diluted common share after reporting a net loss last quarter, and it was one key element that helped drive lending volume forward.
Mini-correspondent lending divisions started to take off after the Consumer Financial Protection Bureau’s qualified mortgage rules went into effect on Jan. 10, creating a possible loophole for lenders and catching the CFPB’s regulatory eye.
Now that it's been six months since the CFPB's Qualified Mortgage requirements went into effect, lenders are starting to look into the unchartered territory of non-QM lending, finding that there is, in fact, demand.
Date's consumer finance advisory platform and investment vehicle Fenway Summer is reportedly looking to buy Ethos Lending in order to get into the mortgage market. And he is already generating buzz through the sins-of-our-fathers assertion.
Melvin Luther Watt quietly slid into his office as the first appointed director of the Federal Housing Finance Agency. It was the end of last year, in mid-December. Christmas was coming and the markets were in the middle of the harshest winter in years. As he took over the office of Acting Director Ed DeMarco — himself the unassuming lightning rod for the nation’s housing policy — Watt gave no indication of what he intended to do with his new position; arguably the most powerful job in mortgage finance..
Crowdfunding has swept through large verticals of consumer finance, including student loans and credit card debt. And so, naturally, in a market of rising property values, the real estate market is the latest frontier for crowd-based financing. Read More
Like oxygen, warehouse lending is one of the mortgage industry’s essential life-supporting elements. And fortunately, the warehouse segment is in much better health today than it was six years ago, as we are back up to around 70 warehouse lenders at my last count. Read More