Inside Mortgage Finance: What the Mortgage Market Reads, since 1984. Industry Data, News & Analysis. Also on LinkedIn: https://teapawt.org/t.co/qGrSzwHUwb
Bethesda, Md.
Joined July 2011
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Pennymac Financial Services is in the process of selling mortgage servicing rights with a total unpaid principal balance of $29.0 billion. The nonbank expects $490 million in proceeds from the sale of mortgages, which have low interest rates. insidemortgagefinance.com/ar…
A policy change lets developers of single-family homes, duplexes and triplexes that are purpose-built for renting to apply for financing under FHA’s programs for new construction for the acquisition or refinancing of a recently built multifamily property. insidemortgagefinance.com/ar…
In September, locks for non-QMs increased by 8% on a monthly basis as total lock volume declined 2%, according to Optimal Blue. Conforming loans lost share while non-QM volume grew and ARM use reached its highest level seen in Optimal Blue’s report. insidemortgagefinance.com/ar…
Fannie Mae added a significant amount of agency mortgage-backed securities to its portfolio during September. The government-sponsored enterprise held $109.72 billion of agency MBS at the end of the month, up 9.9% on a monthly basis. insidemortgagefinance.com/ar…
In the residential MBS sector, @FitchRatings said AI could improve mortgage underwriting, property valuations, servicing and quality-control processes. Still, Fitch said risks could arise from model errors, AI-enabled fraud or employment disruption. insidemortgagefinance.com/ar…
Pennymac generated $29 million of net income in the third quarter, a 31.8% increase from the second quarter. The nonbank took a pre-tax loss of $7 million on production in the third quarter after a $38 million profit in the second quarter. insidemortgagefinance.com/ar…
Banks have already seen some growth in loan volume in anticipation of the new Basel III capital requirements and will likely continue increasing volume moving forward, @FitchRatings notes. insidemortgagefinance.com/ar…
Rocket Companies more than tripled its income on a sequential basis in the third quarter of 2026, booking a $709 million profit. The improved profitability was largely due to servicing. insidemortgagefinance.com/ar…
Many data center ABS are securitizations of an operating business rather than the various types of loans/receivables that back typical ABS, thus warranting differing treatment in terms of risk retention, notes @lathamwatkins’ Rolaine Bancroft. insidemortgagefinance.com/ar…
Onity filed a declaratory judgment action in a NY court seeking clarification of a state mortgage servicing rule governing expedited-payment fees. The complaint centers on a rule in NYDFS’ 2019 business conduct rules for mortgage loan servicers. insidemortgagefinance.com/ar…
A total of $100.33 billion of non-mortgage ABS came to market during 3Q26. While that put YTD issuance up 11.2% from the first nine months of last year, it represented a 12.1% decline from 2Q26, according to a new analysis by Inside MBS & ABS. insidemortgagefinance.com/ar…
Adamas Trust took a $162.1 million loss in the third quarter of 2026. The real estate investment trust focuses on buying agency mortgage-backed securities and non-agency business purpose loans. The REIT posted a $53.1 million profit in the second quarter. insidemortgagefinance.com/ar…
Earnings declined at D.R. Horton in the third quarter of 2026 but the nation’s largest homebuilder remained profitable. D.R. Horton turned a $759.3 million profit in the third quarter, down 17.4% from the second quarter. insidemortgagefinance.com/ar…
First Horizon reported a net loss of $79.0 million in the third quarter, led by a $473.0 million pretax non-interest income loss on the pending sale of $4.5 billion in lower-yielding mortgages. insidemortgagefinance.com/ar…
The new competition in the credit score space will drive an “ongoing sharpening of the saw” in companies’ algorithms and lead to improved models, says Matt Jones, FHA commissioner-nominee and deputy assistant secretary for single-family housing at HUD. insidemortgagefinance.com/ar…
Amid speculation that FHFA will adjust credit scoring requirements for mortgages delivered to the GSEs, Fannie Mae’s acting CEO Peter Akwaboah noted during Fannie’s earnings call Wednesday (in reference to use of VS4), that the tri-merge remains in effect. insidemortgagefinance.com/ar…
Get the full picture of MSR holdings, including a complete listing of agency servicers ranked by volume — from Rocket Mortgage ($1.2 trillion) to Dearborn Federal Savings Bank ($792) — in IMF’s Mortgage Servicing Rights data report. insidemortgagefinance.com/pr…
Speaking to Inside Mortgage Finance, former FHA Commissioner Frank Cassidy said insurance premiums were discussed during his time in office but felt “comfortable” with the current levels given the longer-term outlook. insidemortgagefinance.com/ar…
Freddie Mac saw a 13.7% increase in net revenue in the third quarter of 2026, to $6.81 billion. However, Freddie booked an $800 million provision for credit losses versus an $880 million benefit in the second quarter. insidemortgagefinance.com/ar…
Credit scores using trended data cannot accurately predict Classic FICO scores on a loan-level basis due to the added rank-ordering power provided by the trended data used to inform alternative credit scores, @FitchRatings believes. insidemortgagefinance.com/ar…