Nonbank

A recommendation to give Ginnie Mae expanded authorities is drawing focus in the reactions to a Financial Stability Oversight Council report on nonbank risks.

Stakeholders are watching carefully as the 2023 crisis and a capital proposal increase banker wariness of mortgage assets, speakers at Invisso's MBS Forum said.

The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.

The memorandum creates channels for sharing information about nonbanks between the Federal Housing Finance Agency and the Conference of State Bank Supervisors.

Multiple mortgage companies are returning to the unsecured debt market for the first time since 2021, according to a new Fitch report. Here's why.

The agency reconfirmed the new nonbank capital rule won't become effective until late next year after inadvertently publishing an update with an earlier date.

The California Reinvestment Coalition, the group behind the assessment, is calling for increased nonbank oversight.

The Toms River-based lender was supposedly having liquidity issues, according to unconfirmed reports.

Non-depositories now dominate home lending, but many of these firms were untested until they had to grapple with the current rising rate environment. How they fare could significantly impact the rest of the mortgage market and, more specifically, the Government National Mortgage Association.

The most extreme example of FOMC interest rate market manipulation in 2020 to 2021 has now created a huge potential risk for lenders and investors, writes the chairman of Whalen Global Advisors.

Nonbanks would have to inform the CFPB of any state or local court decisions against them involving consumer financial products, under a new proposed rule. That information would be pooled with data about federal violations and be made available to the public.

Non-depository institutions originated an even greater share of all home loans compared to the year before, according to the Federal Financial Examination Council’s latest analysis of Home Mortgage Disclosure Act data.

But overall improvement in September employment numbers are likely to encourage the Federal Reserve to begin tapering their asset purchases.

The company’s $204 million in net income was down from unusual highs seen recently but still historically strong thanks to the balance between its loan channels and servicing operation, representatives said.

The gain reinforces other estimates that suggest more work-intensive purchase originations have spurred companies to increase staffing. Hiring addressing changing needs in servicing may come next.

The proposal should be withdrawn or reworked around the needs of small players they impose a disproportionate burden on, the Community Home Lenders Association said.

Borrowers reacted positively to the increased interaction and engagement resulting forbearances and payoff requests, J.D. Power found.

While federal regulators attempt to overhaul the Community Reinvestment Act for banks, Congress has shown little interest in applying it to other lenders. But recent moves in Illinois and New York have given some stakeholders hope that state lawmakers will pick up the slack.

The plateau in non-depository estimates for new jobs in the field reported Friday follows anecdotal accounts of reorganization by banks and nonbanks in the past week.

Contrary to the myth perpetrated by many in Washington, IMBs do not pose any real taxpayer financial risk or systemic risk, writes the CEO of Union Home Mortgage and member of the Community Home Lenders Association.