Nonbank

The Federal Housing Administration program insured three-quarters of the mortgages obtained by millennial homebuyers as most had trouble saving up for a 20% down payment, a LendEDU study found.

June employment by nondepository mortgage bankers and brokers was little changed from the previous month, but later numbers could prove stronger given some influential lenders' interest in staffing up.

Removing Federal Housing Administration-insured mortgages with natural-disaster forbearance from the agency's delinquency tracking database would give investors a less-distorted view of loan performance, according to the Community Home Lenders Association.

Ginnie Mae is requesting feedback on a new proposed stress test for mortgage-backed securities issuers that would take into account the government agency's increased nonbank counterparty risk.

After months of backsliding followed by a modest increase in April, nondepository mortgage companies added 3,200 workers in May, as the overall job market gained steam.

Mortgage lenders might be feeling a little less stressed over False Claims Act actions being brought against them following recent headlines but there is still some work to be done before they can chill out.

LoanDepot will accelerate hiring initiatives in the third and fourth quarter as it plans to add 1,400 new jobs by the end of 2019. The company credits its technology efforts for the growth opportunities.

Quicken Loans claimed victory in its dispute with the Department of Housing and Urban Development over the False Claims Act, only paying the agency for losses incurred and interest.

Ginnie Mae is examining whether the shift in business to nonbank issuers has implications beyond the risks it has historically looked at, and identifying advantages that should be nurtured as well.

After a sustained downward trajectory, nondepository mortgage companies added 1,200 workers in April, a modest boost for lenders during prime season for the housing market.

Independent mortgage banks became profitable again at the start of the year after realizing losses of $200 for each loan they originated in the fourth quarter of 2018, according to the Mortgage Bankers Association.

Velocity Mortgage Capital's new loan for income-producing residential and small-balance commercial properties was designed to afford investors more payment certainty than traditional bank financing.

The shift to nonbank lenders will put the breaks on non-qualified mortgage and home equity line of credit origination growth.

The Government Accountability Office called on Ginnie Mae to undertake four reforms to its operations, citing concerns regarding the ongoing shift in size and capitalization of mortgage-backed securities issuers.

Nonbank mortgage companies have traditionally been monoline or focused businesses, but in the current market they must create multiple revenue lines and strike a healthy balance between them to survive.

Lending against single-family home construction is an area where depositories have traditionally faced little competition. That's starting to change.

Nondepository mortgage companies cut another 1,500 workers in March as the housing market's peak season got underway, suggesting that even with business potentially picking up, lenders remain cautious about hiring.

New licensing rules for mortgage professionals servicing loans secured by New Jersey properties will go into effect this summer, adding to a trend toward tighter state regulation of standalone servicers.

Historically, rising interest rates have enabled banks to earn more, but this time around in the banking industry, like much else, things are a little different.

Surging loan production expenses and low revenue killed profits in 2018 for loans originated by independent mortgage bankers and subsidiaries of chartered banks, according to the Mortgage Bankers Association.