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Volume 2014 - Number 8

April 11, 2014

News Briefs

CORRECTION: A March 14, 2014, story in Inside Nonconforming Markets with the headline “Credit Suisse Taps New Penn for Another Jumbo MBS” stated that according to Standard & Poor’s, due-diligence firms found that New Penn Financial allowed exceptions to its underwriting guidelines for some mortgages included in CSMC Trust 2014-SAF1. In fact, the underwriting exceptions were allowed by Credit Suisse on mortgages from lenders not identified by S&P ... [Includes three briefs]

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HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

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