“Early indications are very positive for the growing of our Alt-QM pipeline. We believe this will be further strengthened by the recent commitment by several large retail originators, to roll out these products through year end and during the first quarter of 2015,” said Joseph Tomkinson, chairman and CEO of Impac Mortgage Holdings.
Originations decreased 48% from the first quarter of 2013, down to $353.1 million. Impac attributes most of that to the sale of their brick and mortar branches at the end of last year, which accounts for $180 million of the decline.
It was an eventful day for the housing finance market on Tuesday, with Rep. Mel Watt officially confirmed as the next leader of the FHFA. Not long after his confirmation became a likely conclusion, the HW 30 finished down.
Bill Ashmore doesn’t want to date himself. But he does. And he really, really does when he recalls a time in the mortgage business when work happened before the advent of the computer. Back then, when Ashmore started, scanning the room of a mortgage office likely meant a visual presentation that in 2013 appears like a scene from Argo.
Hat tip to Blown Mortgage's Morgan Brown, who forwarded me a copy of a press advisory yesterday from Freddie Mac regarding the GSE's move to inject additional liquidity into the troubled Alt-A lending market.
In the statement, senior vice president Paul Mullings said Freddie will seek to provide some relief to seized-up Alt-A markets by purchasing more Alt-A loans on a forward basis:
In what was the most competitive awards program to date, HousingWire is proud to recognize the professional accomplishments of 30 women -- spanning every sector of the U.S. housing economy. Read the stories of our 2014 honorees, and be inspired..
If fair housing bluster were an Olympic event, the podium would be crowded with politicians and corporate mouthpieces. The injustice that once provoked marches and protests now evokes photo-ops and press releases. But have things truly changed? Read More
The sweeping CFPB TILA-RESPA integrated disclosures roll-out will affect almost every residential mortgage loan application that is submitted to a creditor on or after this date. Here, industry expert Jerry Halbrook dives into a breakdown of the wide-ranging impact of the new rule. Read More