Ginnie Issuance Up But Jumbo Down, HMBS Plunges
While overall securitizations on behalf of the Government National Mortgage Association, made a monthly move up, jumbo issuance declined and reverse mortgage issuance sank.
FHA Production Holds, Could Accelerate
There was little change in monthly endorsements by the Federal Housing Administration, though business is poised for an increase. Delinquency improved, and commercial endorsements moved higher.
Huge Profit, Increased Lending at Ditech
Fresh out of bankruptcy, Ditech Holding Corp. reported a huge profit and a quarter-over-quarter increase in home lending. The servicing portfolio, however, was diminished.
IndyMac's Former Reverse Unit Sold
The reverse mortgage business which was once owned by IndyMac Bancorp Inc. has been sold. The sale also involved servicing on assets.
Monthly HECM Endorsements Remain Weak
Reverse mortgage originations that are insured by the federal government saw restrained activity as monthly volume was tethered near a four-year low.
HECM Changes Drive New Proprietary Programs
Changes to requirements for home-equity conversion mortgages have driven reverse mortgage lenders to develop new proprietary programs.
Ginnie Mae Issuance Increases
Monthly securitizations turned higher at the Government National Mortgage Association, with apartment loan activity ascending to the strongest level since last year. Reverse mortgage issuance exceeded $1 billion.
FHA Biz Up & Further Ascension Likely, HECMs Down
New loans insured monthly by the Federal Housing Administration rose, and further escalation is likely -- though reverse mortgage volume was down again. Delinquency fell to the lowest rate in eight months. Multifamily business was off.
Impac Servicing Grows, MSR Losses Swing to Gain
As Impac Mortgage Holdings Inc. has grown its servicing portfolio over the past year, it has turned losses on mortgage-servicing rights into gains. Originations declined, and layoffs are ongoing.
Nationstar Defies Drop in Home Lending at Peers
Declining origination income was more than offset by soaring servicing income at Nationstar Mortgage Holdings Inc. -- which bucked a downward quarter-over-quarter origination trend among its peers. Reverse mortgage assets expanded.