Secondary markets

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.

Citigroup's first quarter mortgage-related revenue increased compared with the fourth quarter — although down slightly from the same period last year — as its lending operations continued to contract.

Freddie Mac exchanged existing bonds from its portfolio for mirror certificates for the first time, completing a key test that is central to the creation of a uniform mortgage-backed security.

The Federal Housing Finance Agency, by allowing Fannie Mae and Freddie Mac to split the CEO and president positions, let the companies dodge a congressionally mandated cap on executive salaries, the regulator's inspector general said.

Independent mortgage bankers lost the largest amount for originating a loan in the fourth quarter since this data has been tracked, as costs rose and volume dropped, according to the Mortgage Bankers Association.

Lenders must do more to address the safety of borrowers' personal information as digital mortgage strategies spread and regulatory scrutiny increases.

Starting March 26, Senate Banking Committee Chairman Mike Crapo will hold two days of hearings on his plan for returning Fannie Mae and Freddie Mac to private ownership.

Ohio has become the latest state to start including mortgage servicing rights holders in its increased regulation of nonbank servicers.

Manufactured and modular home lender Tammac Holdings is using $60 million in debt and equity financing from its new majority owner to fund construction loans.

Mortgage lenders' gain on the sale of loans to the secondary market has finally increased after several quarters of declines, according to Richey May.

The Securities Industry and Financial Markets Association approved changes to its good delivery guidelines that ease the path to the government-sponsored enterprises issuing uniform mortgage-backed securities starting on June 3.

Ginnie Mae could limit how much servicing income mortgage lenders can sell off through a transaction if they don't establish a minimum 25-basis-point spread at the portfolio level by next year.

American Mortgage Consultants has acquired title search outsourcer String Real Estate Information Services as part of ongoing efforts to support all the services secondary-market clients need to conduct trades.

The government-sponsored enterprises are going through a transition period. From proposals for rebuilding their capital cushions to tackling shortages in affordable housing, Fannie Mae and Freddie Mac face a number of key challenges with wide-ranging consequences this year.

Ginnie Mae should not overreact in supervising smaller, more diversified mortgage bankers, but rather scale its approach in line with the concentration of risk that different-sized servicers pose.

Wells Fargo and JPMorgan Chase had reduced mortgage-related earnings in the fourth quarter as home loan activity continues to fall short of expectations.

Michael Bright is resigning as acting president of Ginnie Mae to run the Structured Finance Industry Group, a trade association that's been without a CEO since Richard Johns resigned in July amid a reported split with the group's board.

The government shutdown could affect mortgage origination credit quality as lenders miss some red flags normally found using data that is not currently available, according to Moody's.

Acting Ginnie Mae President Michael Bright will leave his post on Jan. 16 and will no longer seek confirmation to be the permanent head of the mortgage secondary market agency.

The mortgage industry faces myriad questions and challenges in 2019. Here's a look at 12 executives who will be behind the waves being made this year.