Secondary

Both Chase and Wells Fargo had a 15% reduction quarter-to-quarter in mortgage originations, more than the industry forecast for a 6% drop-off, Keefe, Bruyette & Woods noted.

Financial institutions that are members could gain access to expedited funding through a Fed partnership and advances secured by a broader range of collateral.

The president of an affiliate mortgage securitization guarantor is taking on the responsibilities associated with the Federal Housing Administration role.

Bills in Congress, capital rules, GSE reform and credit modernization hold a mix of benefits and risks for Independent Community Banker of America members, Senior Vice President Ron Haynie says.

Jumbo loans demand more scrutiny and documentation, but automation is streamlining the process — and lenders who master the product stand to gain in a moderately bullish market.

It doesn't have to be all or nothing, but all paths are complex, capital markets and policy experts in the Treasury Market Practices Group say.

Conforming loan limits are determined using a home price index. A congressman is proposing a switch to an income-based metric, creating more jumbo mortgages.

A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.

In other news, Better Mortgage completed warehouse renewals and Wolters Kluwer provided a new form of access to its digital vault platform for secured parties.

The latest government-sponsored enterprise changes include a more flexible sampling and a longer maximum term for some manufactured housing loans, respectively.