Mortgage originations by nonbanks have not only surged past those coming from regulated banks, but according to the Urban Institute (UI), they are helping to widen the credit box for agency and government loans . Where in 2013 banks originated 70 percent of new mortgages , this year nonbanks originated 60 percent . In an article in UI's Urban Wire blog, three analysts say that, while banks have been the traditional lender for most homebuyers, "the market turbulence of the past decade has spurred a significant restructuring of the mortgage finance industry, thrusting nonbanks-institutions that provide some banking services but are not regulated banks-into a dominant position as mortgage originators." UI's analysts, Karan Kaul, Bing Bai, and Linda Goodman, indicate in their article that the shift

September 6, 2017 Download our Mobile App: Download our Mobile App: Housing News Getting a Loan is Easier Thanks to Non-Bank Lenders Mortgage originations by nonbanks have not only surged past those coming from regulated banks, but according to the Urban Institute (UI), they are helping to widen the credit box for agency and government loans . Where in 2013 banks originated 70 per... (read more) Rob Chrisman North Korea and Rates; Lender Disaster Updates - What Can Borrowers Do? I receive my share of emails, and a portion of them ask me “in the weeds” questions about lenders, programs, and states (“Rob, hook me up with a wholesaler doing yurts in Missouri on 20 acres”). I always refer them to www.mort... (read more) Housing News Refinancing Volume Picks Up as Rates Push 2017 Lows A resurgence in refinancing drove the volume of mortgage applications higher during the week ended September 1. The Mortgage Bankers Association said its Market Composite Index, a measure of application volume, increased 3.3 percent on a seasonally a... (read more) MBS Commentary MBS Live Day Ahead: Assessing Bigger Picture, Shorter-Term Risks For Now Until the onset of brinksmanship with North Korea and the appearance of big, back-to-back Hurricanes, financial markets were more focused on long-term policy-related risk.  In terms of monetary policy, traders are keen to feel out the partic... (read more) MBS Commentary MBS Live Recap: Perfect Storm Results in Bond Market Snowball Rally Bonds rallied significantly today on a confluence of news.  Disparate events and headlines hit markets at just the right time and in just the right combination to catch bond traders on their heels.  We began discussing the imbalance of ... (read more) MBS Commentary MBS Live Recap: Bonds Bounce as Debt Ceiling Issue Gains Traction Bond markets began the day holding impressively sideways.  Why impressive?  Because there was a small laundry list of potential reasons for weakness.  This included:  Democratic congressional leaders announcing they w... (read more) Mortgage Rates 30 Yr. Fixed Rate 7.05% +0.03% Rate Change Points Mortgage News Daily 30 Yr. Fixed 7.05% +0.03 0.00 15 Yr. Fixed 6.43% +0.06 0.00 30 Yr. FHA 6.39% +0.09 0.00 30 Yr. Jumbo 7.24% +0.04 0.00 7/6 SOFR ARM 7.11% +0.12 0.00 30 Yr. VA 6.39% +0.07 0.00 Updates Daily - Last Update: 11/15 15 Yr. Fixed Rate 6.43% +0.06% Rate Change Points Freddie Mac 30 Yr. Fixed 6.78% -0.01 0.00 15 Yr. Fixed 5.99% -0.01 0.00 Updates Weekly - Last Update: 11/14 Rate Change Points Mortgage Bankers Assoc. 30 Yr. Fixed 6.73% +0.21 0.69 15 Yr. Fixed 6.27% +0.29 0.77 30 Yr. Jumbo 6.77% +0.04 0.49 Updates Weekly - Last Update: 10/30 MBS / Treasuries UMBS 30YR 5.5 98.83 -0.09 Price / Yield Change MBS UMBS 5.5 98.83 -0.09 UMBS 6.0 100.50 -0.06 GNMA 5.5 99.42 -0.14 GNMA 6.0 100.68 -0.03 Pricing as of: 11/16 3:30AM EST 10 Year US Treasury 4.4404 +0.0016 Price / Yield Change US Treasury 2 YR Treasury 4.301 -0.049 5 YR Treasury 4.307 -0.019 7 YR Treasury 4.374 0.000 10 YR Treasury 4.440 +0.002 30 YR Treasury 4.617 +0.034 Pricing as of: 11/16 3:30AM EST Latest Video Yields dip lower as investors weigh looming debt ceiling fight What investors should take away from Fischer stepping down from Fed Lower mortgage rates push more borrowers to refinance, as Harvey mucks up t... Around the Web Freddie Mac Freddie Mac Confirms Disaster Relief Policies as Hurricane Irma Approaches Puerto Rico, U.S. Virgin Islands and U.S. Mainland NAHB Eye on Housing Time to Build a Single-Family Home in 2016 NAR - Realtor.com More People Paying Mortgages on Time CNBC Fed says economy expanded at modest rate, sees concerns about auto industry Reuters U.S. services sector growth accelerates; trade deficit edges up Market Watch Trump ability to control Fed sped up by Fischer resignation Reuters House approves $8 billion in initial Hurricane Harvey relief Market Watch Teacher to Bernanke and Draghi, Fischer remembered as giant' in field Reuters U.S. services sector growth accelerates; trade deficit edges up CNBC Dollar falls after Fischer's resignation as traders fear losing a 'bedrock' member of Fed Market Watch Stock market holds steady after Stanley Fischer announces resignation from Fed consumerfinancemonitor.com CFPB publishes a financial toolkit for victims of Hurricane Harvey Calculated Risk Blog Employment: Preliminary annual benchmark revision shows upward adjustment of 95,000 jobs

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