FHA & Ginnie Mae
FHA Third-Party Originator Sponsors Warned by HUD
February 22, 2012
A sponsoring Federal Housing Authority-approved mortgagee could face administrative action for failure by a sponsored third-party originator, such as a mortgage broker, to comply with FHA lending requirements, the Department of Housing and Urban Development has warned...
Nonconforming
Free Story from Inside Nonconforming Markets on Investor Interest in Vintage Non-Agency MBS
February 21, 2012
Investors have seen strong returns on vintage non-agency MBS in recent months. This story from last week’s issue of Inside Nonconforming Markets – available for free for a limited time –provides details on recent non-agency MBS sales, pricing, buyers and sellers ...
Regulations
New CFPB Budget Emphasizes Enforcement and Supervision
February 17, 2012
The Consumer Financial Protection Bureau’s first official budget – courtesy of its funding from the Federal Reserve as per Dodd-Frank – segregates expenditures into three buckets, the largest of which has to do with supervision, enforcement, fair lending and equal...
GSEs
Senate, House Bills Would Authorize GSEs to Rent REOs
February 16, 2012
A bill filed in the Senate last week would authorize Fannie Mae and Freddie Mac, as well as Federal Deposit Insurance Corporation-member banks, to enter into long-term leases to permit families to stay in their homes while also easing the pressure of unsold foreclosure...
Nonconforming
HUD to Raise Premiums to Bolster FHA Capital Reserves
February 15, 2012
The Department of Housing and Urban Development this week announced budgetary proposals to increase annual insurance premiums for all forward mortgages to help stabilize the FHA insurance fund and avoid a potential taxpayer rescue. Under the FY 2013 budget plan submitted to...
Mortgage Lending & Servicing
What Kind of Mods are on the Multistate Menu?
February 14, 2012
The largest penalties resulting from the recently announced $25 billion multistate robosigning settlement will be dedicated towards a “menu” of other forms of loan modifications, including, most prominently, principal reduction. Although the settlement terms have still yet to...
Nonconforming
The Top Subprime Servicers in 2011 and the Outlook for 2012
February 14, 2012
This week’s issue of Inside Nonconforming Markets will include a ranking of the top subprime servicers as of the end of 2011. Non-bank servicers led by Ocwen Financial have been increasing their subprime holdings while major banks have decreased their exposure to the high-touch...
FHA & Ginnie Mae
Looking at HUD’s Proposed Budget for 2013
February 13, 2012
President Obama sent his proposed 2013 federal budget to Congress this morning, a budget that touts its ability to “make tough choices” by highlighting fiscal sacrifices. Despite the emphasis on tightened purse-strings, the budget provides the Department of Housing and Urban...
Mortgage Lending & Servicing
The Settlement Hasn’t Settled Many Questions
February 10, 2012
Yesterday’s announcement that a deal was met between 49 states, federal officials and the five largest banks regarding the issue of robosigning answered few of the questions we posed yesterday regarding the settlement. While the “who” has been largely answered, ending the...
Regulations
Congressional Republicans Challenge CFPB, Cordray
February 10, 2012
This week, the House Financial Services Subcommittee on Financial Institutions and Consumer Credit held a hearing to consider various legislative proposals to promote accountability and transparency at the Consumer Financial Protection Bureau. H.R. 1355, the Bureau of...
Mortgage Lending & Servicing
A Hint that We'd Be Waiting for These Settlement Terms
February 10, 2012
“It's absurd that the mortgage settlement hasn't been made public, but it's also silly to say that, for that reason, it ‘doesn't exist,’” tweeted Wall Street Journal reporter Nick Timiraos earlier today. Shortly before that, American Banker posted an article that questioned...
GSEs
House GOP Bill Would Put Fannie, Freddie ‘On Budget’ and Other Things Affecting the GSEs
February 9, 2012
For this week’s issue of Inside The GSEs, we will delve into the newly passed Republican bill in the House that would require that the federal budget reflect the net impact of programs administered by Fannie Mae and Freddie Mac. H.R. 3581, the Budget Account and Accounting Transparency...
Mortgage Lending & Servicing
What to Look Out For at Mortgage Settlement Announcement
February 9, 2012
How much? Numbers have run the gambit from the low of $19 billion )(without the participation of California) to a high of $40 billion. The standard number has been $25 billion, with news reports citing $26 billion this morning, but the main question here is how banks will pay...
FHA & Ginnie Mae
House Subcommittee Passes FHA Solvency Draft Bill
February 8, 2012
The House Financial Services Subcommittee on Insurance, Housing and Community Opportunity this week approved draft legislation that would ensure FHA solvency, including an indemnification requirement for early period delinquency. The discussion draft, “FHA Emergency Fiscal...
Nonconforming
Principal Reduction Not the only HAMP Component with Little Activity from the GSEs
February 7, 2012
Mortgages owned by Fannie Mae and Freddie Mac account for 51.8 percent of the 842,146 active trial and permanent modifications completed via the Home Affordable Modification Program. However, the government-sponsored enterprises’ share of HAMP’s short sale activity is much...
Upcoming Webinars
Mortgage Beat
- FHA Third-Party Originator Sponsors Warned by HUD
- Free Story from Inside Nonconforming Markets on Investor Interest in Vintage Non-Agency MBS
- New CFPB Budget Emphasizes Enforcement and Supervision
- Senate, House Bills Would Authorize GSEs to Rent REOs
- HUD to Raise Premiums to Bolster FHA Capital Reserves
Industry Reports
Poll
Most Popular Stories
- Mortgage Brokers Carry Significant Portion Of Increased Origination Volume in Late 2011
- What Kind of Mods are on the Multistate Menu?
- HUD to Raise Premiums to Bolster FHA Capital Reserves
- Private MI Regains Some Market Share in 2011, Radian Tops Industry Ranking for First Time
- Looking at HUD’s Proposed Budget for 2013
