Is it really a good idea to be pushing people who may be on the margin into a mortgage commitment? Especially given the state of the GSEs and how fragile the economy is? Fannie says not just yes, but heck yes.
Ditech Mortgage Corp is expanding its lending options again. The company is now the latest lender to to jump on board with the 97% LTV programs announced by Fannie Mae and Freddie Mac earlier this month.
360 Mortgage announced it is supporting the Federal Housing Finance Agency's latest initiative to expand the credit box. The move makes 360 Mortgage one of the first pioneers to accept the GSEs' newest products to reach more first-time homeowners.
It's here. Fannie Mae and Freddie Mac officially unveiled each of their 97% loan-to-value offerings for mortgages they securitize. And while both are working to expand the credit box for first-time homebuyers, there are key differences between what each one requires.
In a speech at the Mortgage Bankers Association Convention & Expo on Monday, Federal Housing Finance Agency Director Mel Watt announced a number of policy steps aimed at increasing mortgage credit availability.
Every market bodes a different credit risk, and a new product from Collateral Analytics shows just how different each area can be. Coming in on top, San Francisco ranks as number one for the highest credit risk spread.
"The majority of outstanding Fitch-rated investment grade classes maintained stable rating outlooks, while second-quarter downgrades declined over first quarter," said Fitch Ratings Managing Director Mary MacNeill.
In the aftermath of the financial crisis, low interest rates and strict capital requirements combined to make servicing a losing proposition for many banks. The sharp glare of regulators didn’t help either, as banks and nonbanks navigated the already thankless waters of servicing with a new target on their backs. But all that changed abruptly in the fourth quarter of 2016 with the one-two punch of a Trump win and a rate hike by the Federal Reserve.
Singling out the law that created the CFPB generated a backlash from Congressional Democrats, but it remains to be seen what Democrats can do to stop the Trump juggernaut. See what Mike Jones of Navigant advises servicers to do in this uncertain environment.
Portfolio managers and investors also have a vested interest in the expansion of the non-QM market. They have an appetite for non-QM assets as they represent an attractive yield opportunity. That’s why we’re seeing more “hold” strategies at work with current non-QM production.