Receive an Email Alert each time a story is posted to

Digital, U/W, Recruiting Products; Workflow Automation Survey

Construction, Subservicer, Reverse Products; Technology Options…

LO, AE Jobs; Broker and Warehouse Products; Conventional Conforming…

Budgeting, Comp Products; Sales, Government Investigation Webinars

Training, Reno, Appraisal Products; Compliance Warning; FHFA…

MBS Day Ahead: Bonds Attempt to Hold Gains As Markets Close Early…

MBS RECAP: Bottom Falls Out For Both Stocks and Bonds

Mortgage Rates Drop Quickly as Market Panic Sets In

New Home Sales End Three-Month Winning Streak, Still Up from…

The Rental Inventory is Problematic Too; Rates Back to Lowest Levels in Over a Year

Anyone pay attention to the class action lawsuit? If found favorable…

Agency NINA? Is it April 1st or 12th of Never??

The biggest reason Ive seen in my firm for aversion to low…

Buyers who have been able to obtain small dollar mortgages…

Since buyers obtaining mortgages on lower priced homes have similar…

I feel the same way as Arthur and would love some feedback, we…

Ann, the 2 things you mention could have been included in the…

I think there are a couple things missing from the study. The…

Pipeline Press is an informational forum focused on the interpretation and discussion of industry specific news, intelligence, investor bulletins, lender releases, developments, events and even rumor.

Broker, Underwriting, MSR Products; Bank, Lender, and Credit Union News

A capital markets friend relayed this note recently received from an LO. When do you think stated pick-a-pay products will come back? I have some borrowers with LTVs less than 70% who could really use that. Can you find us a program to offer? Huh? Pick-a Pik-a-chu? As over a thousand capital markets folks head to New York this weekend to tax their livers and hear, yet again, another set of titillating GSE reform updates at the MBA Secondary conference that are heard at every conference, there is investor chatter as always, like PHH re-entering the mandatory business. At least one associated group is optimistic. U.S. homebuilders are becoming significantly more confident after a sharp downturn last year. The monthly confidence index of the National Association of Home Builders has risen 3 points in May to 66, the highest mark in seven months.

Mortgage brokers know that competing on rate alone is a losing proposition. You need to offer products, benefits, and advice that go beyond price. To fulfill your role as the financial expert they are looking for, you need to start with WHY they came to you in the first place. Discussing saving money AND what will they do with those savings. Regardless of what their goal is, YOURgage from Quicken Loans Mortgage Services (QLMS) can help clients reach it faster and easier. YOURgage lets you and your client chose any loan term from eight to 30 years. A clients daughter going to college in 12 years may call for cash flow then, or a client wanting a lower rate but retiring in nine years can have a nine-year mortgage! A YOURgage is one way that QLMS can help you provide value, in addition to the savings. Call your AE now to run through a few more scenarios where your clients can benefit from a YOURgage, or for new brokersconnect with QLMS hereto learn about products to help your clients.

Caliber Home Loans, Inc.is the 2 purchase lender among non-banks (IMF), and is excited to announce a national expansion of its renovation lending program. The renovation product gives Caliber customers the opportunity to include minor cosmetic updates all the way to major renovations into one loan at closing. Caliber customers avoid high rate 2ndmortgages and HELOCs and enjoy the convenience of one loan with the improvements included at the time of close. Renovation Purchase loans from Caliber can help pay for repairs, remodeling or renovation required to improve ones home. Renovation financing options from Caliber include FHA 2013(k), FHA 203(H), HomeStyle® Renovation and VA Renovation loans. A diverse and current portfolio of products is why Caliber is one of the fastest-growing mortgage companies in America!

How do you identify the right partner when evaluating mortgage outsourcing? Everest Group recently awarded Accenture Credit Services its top designation of Leader in its PEAK MatrixTM for Mortgage BPO ranking of 20 providers, based on Accentures market success and delivery capability. The report cited Accentures well-rounded consulting capabilities and a broad-based mortgage presence and Accentures success in capitalizing on several mortgage tools and technology solutions to serve its clients. As a trusted provider for retail, correspondent, and wholesale channels, Accentures deep domain expertise and robust processing capabilities helps clients accelerate business outcomes and grow in todays unpredictable market. Accentures global operations and 50-state SAFE Act licensing helps lenders increase their ability to focus on the customer experience, reduce costs to originate, and improve cycle time. For those of you attending the MBA Secondary Market Conference in New York, please come by the Liberty Room at the Marriott Marquis Monday or Tuesday, or click here to confirm a specific time for us to meet.

Questions on HUDs latest changes on DPA program requirements?Check out TMS latest DPAssistant Update to help find DPA programs that follow the latest requirements regarding program jurisdiction.Its so great to have a handy list of over 125 DPA programs across the country. Find the listhere.

Simplify your underwriting process with Loan Product Advisor®asset and income modeler (AIM). Through the expertise of third-party service providers,AIM automates the manual processes of assessing borrower assets and income.AIM reduces the burden of traditional documentation, speeds up the loan origination process and helps you close loans faster. Freddie Mac is working hard to bring you solutions that create efficiencies for your business and improve the borrower experience – giving you a competitive edge. These capabilities are available now. Gain greater efficiency in your underwriting processes withAIM- getThe Freddie EdgeSM.

Banks thats where all the money is, right? The CEO of LendingClub said the online lending company is evaluating applying for a banking charter while online brokerage firm Robinhood Markets Inc. has applied for a bank charter with the OCC. Going the other way, ConnectOne Bank ($5.5B, NJ) will acquire New Yorks online business lending marketplace BoeFly which reports over $6.7B in transactions through its online matching platform connecting borrowers with lenders. PNC Bank ($371B, PA) will sell about $9B in assets of its investment management business to Federated Investors for about $52mm. Summit Community Bank ($2.2B, WV) will sell its insurance unit to the Hilb Group LLC. Investment banking company Stifel Financial Corp. will acquire investment bank, Mooreland Partners, and given that Stifel owns Keefe, Bruyette & Woods, adding Mooreland doubles the size of its technology practice.

Open Mortgage, a multi-channel mortgage lender has acquiredPremier Home Mortgage, a lender that specializes in financing homes in rural and small-town America, in a deal thats expected to add $300 million in loan value to the company.

What depository M&A deals have been announced in recent weeks? Brazilian bank Banco Bradesco ($361B) will acquire BAC Florida Bank ($2.3B, FL) for about $500mm. In Wisconsin AbbyBank ($503mm) will acquire State Bank ($28mm), Time Federal Savings Bank ($586mm) will acquire River Cities Bank ($256mm, and two bank holding company Lake Shore III Corp ($318mm) will acquire First American Bank ($131mm) in stock (100%) for an undisclosed sum. In Kansas Intrust Bank ($5.2B) will acquire First Bank of Newton ($188mm). Down in Florida MIDFLORIDA CU ($3.5B) will acquire Community Bank and Trust of Florida ($733mm) in an all-cash deal. BancFirst ($7.7B, OK) headed south and will acquire Pegasus Bank ($624mm, TX) for $122mm in cash (100%). Up in Minnesota Merchants Bank ($1.7B) will acquire The First National Bank of Northfield ($206mm). In North Carolina First-Citizens Bank & Trust Co ($36B) will acquire Entegra Bank ($1.6B) for $219.8mm in cash. (Entegra will also cancel a strategic merger of equals it entered into in January with SmartFinancial.)

In Arkansas Chambers Bank ($844mm) will acquire River Town Bank ($134mm), and in nearby Alabama CB&S Bank, Inc. ($1.7B) will acquire PrimeSouth Bank ($247mm). Teachers CU ($3.2B, IN) will acquire New Buffalo Savings Bank ($120mm, MI) for $21.3mm in cash (100%) or 1.29x tangible book. In Mississippi Hancock Whitney Bank ($29B) will acquire MidSouth Bank ($1.7B) for $213mm in stock (100%) equal to 1.4x tangible book. In Nashvilles neck of the woods Centennial Bank ($463mm) will acquire Chester County Bank ($72mm), and in Jimmy Carters home state Colony Bank ($1.3B) will acquire the mortgage business of Planters First Bank ($334mm).

A while backZelmanserved as exclusive sell-side investment banker toHighlandin connection with its sale to Berkshire Hathaways Clayton Properties Group. This transaction aligned Highland with the nations largest and best-capitalized housing organization in Clayton, along with natural entry-level product compatibility, geographic fit complimentary to Claytons existing builder portfolio, exceptional cultural alignment, and a shared dedication to customer experience and service. Through this ninth acquisition since 2015, Clayton has positioned itself as one of Americas largest on-site homebuilding organizations.

Compass Analyticshas a lot of exciting updates to show you at MBA Secondary next week. Visit Booth 518, meet with a Sales Director or contact Compass to learn about how new Loan Level MSR capabilities can help you make better decisions about servicing pricing and values in your pipeline.Compass also has news about the latest servicing co-issue bidding capabilities, its recent white paper that discusses an important option for managing loan sales, and the comprehensive MI pricing coverage available throughCompassPPE.

MAXEX, LLC, a residential mortgage loan exchange, announced the closing of a Series B investment round that was led by AGNC Ventures, an affiliate of AGNC Investment Corp. and included the participation of Moore Asset Backed Fund, LP and other repeat institutional and private investors. AGNC is the largest internally-managed mortgage real estate investment trust and an active investor in residential mortgage assets.

Turning to rates up a little, down a little, and yesterday they were up a little with the 10-year ending yielding 2.41%. The release of better/stronger-than-expected April Housing Starts and Philadelphia Fed Survey didnt help. Initial claims levels remained consistent with a tight labor market, which should translate into another month of solid nonfarm payrolls. On the trade front, Chinas Ministry of Commerce spokesperson, Gao Feng, called on the United Statesto cancel tariffs on imports from Chinain order to avoid causing a recession-like impact on the world economy. In Europe, the European Commission fined Citigroup, JPMorgan Chase, RBS, Barclays, and MUFG a total of $1.20 billion for colluding in the spot foreign exchange market. Separately, British Prime Minister Theresa MaysBrexit deal is reportedly on track for another defeatin the House of Commons.

Todays economic calendar is all at 7AM PT when leading indicators and Michigan sentiment will be released. We also have several Fed speakers, including Vice Chair Clarida, New York Fed President Williams, and Philadelphias Harper. And theres Trumps speech to NARs Legislative Meetings & Trade Expo in Washington, D.C.We begin today with Agency MBS prices better by .125 versus Thursdays close and the 10-year yielding 2.36%.

Spring EQ Wholesale,the nations premier wholesale second mortgage lender, offering 95% CLTV combos (purchase or refinance) and 100% CLTV standalone fixed rate second mortgages, and who pays 1.5% in LPC on every loan, continues its GROWTH. Joining the team are the following Senior Account Executives: Colleen Coleman in IL, IN, IA, MI, and WI, andKristen Faidley in Minnesota and covering the entire country.Spring EQ Wholesale continues to hire Inside Account Executives in Philadelphia, and Outside Account Executives in the Northeast, and the Southeast regionsand interested applicants should applyhere. In addition, any brokers, banks and credit unions looking to partner should applyhere.

GSF Mortgage Corporation is excited to offer FNMAs new initiative,MH Advantage® Loans, a great alternative for aspiring homebuyers.MH Advantage® is a new homeownership option that offers innovative and affordable financing on specially designated manufactured homes that feature site-built characteristics. GSF Mortgage Corporation is one of the few lenders offering this product as a Single Close Construction to Permanent loan up to 95% LTV. Single Close Construction loan programs offered are, FHA-96.5% LTV, USDA-100% LTV, VA-100% LTV, and Conventional up to 95% LTV. All programs are single settlement without the need to requalify the borrower after the initial closing. GSF Mortgage Corporation offers more choices to our customers than most lenders, allowing borrowers to buy or build their dream home.If you are an Originator with construction experience, please contact our VP of Retail, Frank Papaleo, for information on this opportunity.

BSI Financial Servicesadded three new members to its management team: Jean-Marc Eichner and Adam Rider have joined the company as senior vice president of loan services and vice president of accounting, respectively, while Natalie Owens as has been promoted to director of business development.

Rob Chrisman began his career in mortgage banking – primarily capital markets – 27 years ago in 1985 with First California Mortgage, assisting in Secondary Marketing until 1988, when he joined Tuttle & Co., a leading mortgage pipeline risk management…more

MBS RECAP: Bottom Falls Out For Both Stocks and Bonds

Both stock prices and bond yields moved sharply lower today for a combination of reasons. Trade tensions are ongoing, with visible effects being increasingly…

Mortgage Rates Drop Quickly as Market Panic Sets In

Mortgage rates dropped quickly today as global financial markets underwent a volatile shift. When money is flowing out of stocks and into bonds (as it…

New Home Sales End Three-Month Winning Streak, Still…

After three straight months of gains, Aprils new home sales were expected to give back a little and they did. The U.S. Census Bureau said sales of newly…

In the day just passed, bonds rallied somewhat sharply as headlines suggested Theresa May was soon to be ousted as Britains prime minister. Is it…

Construction, Subservicer, Reverse Products; Technology…

As millions around the globe revel in World Turtle Day, others are more interested about what went on the hallway chatter at the MBAs Secondary…

UI Urges CFPB, Dont Limit Access to Loan Information

The Urban Institute (UI) is urging the Consumer Financial Protection Bureau (CFPB) to rethink its plans for Home Mortgage Disclosure Act (HMDA) reporting…

Calabria Says Let Fannie/Freddie Make More Profit

If you stuffed the old certificates in your sock drawer ten years ago, it may be time to dig them out. Mark Calabria, the new director of the Federal Housing…

MBS RECAP: Brexit Bond Benefits Are Apparently Eternal

Last we checked, it was going to be October before Brexit had its next hard deadline. So it was quite the back burner sort of market mover this week–especially…

Mortgage rates moved higher at a pace that was probably quicker than the average homebuyer would like yesterday . That was part of a 4 day move leading…

MBS Day Ahead: Bonds Waving Long Goodbye to Trend,…

In the day just past, bonds continued moving higher in yield, adding distance between themselves and the unexpectedly low levels seen during the trade…

LO, AE Jobs; Broker and Warehouse Products; Conventional…

Whats going on behind the scenes and in the rumor mill at the MBAs Secondary Conference? There is derision about HUDs Ben Carson not…

GDP Growth Called Transitory While Low…

While calling the recent report on real gross domestic product (GDP) the strongest first quarter in four years, Fannie Maes Economic and Strategic Research…

Is the Trade Dispute Dampening Home Purchase Activity…

Refinancing rose to the surface yet again, driving the gain in mortgage applications during the week ended May 17. The Mortgage Bankers Association (MBA…

MBS RECAP: Bonds Make Good on Threats of Weakness

Bonds have been threatening to end their pleasantly surprising stint of gains over the past few weeks on each of the past 4 business days. Yesterdays…

Mortgage rates had a fairly decent day yesterday as far as most lenders are concerned. A few lenders saw fit to bump rates up in the afternoon following…

Home Sales Stall; Sellers Need to be Realistic

This one might smart a bit. There were big hopes for home sales in April, with interest rates continuing at unexpectedly low levels, unemployment at a…

Fueled by Low Rates, Prepayment Rate Continues to Rise…

With interest rates remaining at 2019 lows and spring market home sales kicking in, the rate of prepayments continues to rise. Black Knight, in its first…

MBS Day Ahead: Without Help, Bonds Face Uphill Battle…

In the day just past, bonds weakened moderately amid the lightest volume in more than 3 weeks and a relative absence of market moving data/events. The…

Budgeting, Comp Products; Sales, Government Investigation…

Whats the banter, and in the unverified rumor mill, at the MBAs Secondary Conference? Fannie, Freddie, and FHA are all concerned about being…

MBS RECAP: Bonds Skittish After Stocks Find Bottom

Both stocks and bonds have been edging back into less panicked territory after trade war drama fizzled out last week. In other words, stock prices and…

Founded in 2004, Mortgage News Daily has established itself as a leader in housing news, analysis and data. Our innovative social media platform combines industry leading content and data with an active community of industry professionals, to accomplish our primary goal – keeping our readers informed.

HomeAboutContactSitemapDisclaimerPrivacy StatementAdvertisingRSS

All Content Copyright © 2003 – 2019 Brown House Media, Inc. All Rights Reserved.

Reproduction in whole or in part in any form without the express written permission of is prohibited.