Self-employed borrowers whose incomes were determined with bank statements account for 35.0 percent of the collateral.

The Ginnie Mae/Veterans Affairs task force is meeting regularly to find a solution to the VA churning problem that is triggering rapid prepayments to the detriment of MBS investors – and a test currently used by the FHA might provide the answer.

So-called peer-to-peer loans “resemble predatory loans in terms of the segment of the consumer market they serve and their impact on consumers’ finances,” according to a study published last week by the Federal Reserve Bank of Cleveland. The warning comes as issuance of ABS and MBS from marketplace lenders continues to grow, with growing acceptance from rating services and investors.

Credit Suisse and MBIA Insurance Corp. continued their wrangling in New York state appellate court in a $235 million MBS securities lawsuit brought by the bond guarantor in 2009.

Fannie Mae is considering a pilot program to help consumers more easily get construction loans. While the program is just in the early stages of consideration, the government-sponsored enterprise sees the program as a way to increase affordable housing options for homebuyers.

Freddie said it plans to close its first investment in January 2018.

Conventional mortgages that meet Fannie Mae and Freddie Mac purchase guidelines remained the biggest source of new home lending during the third quarter, although other product types saw sol-id increases in origination volume as well.

If substantial tax reform is enacted, it would likely lead to rising expectations about growth and inflation, leading to a selloff in rates…

Roughly $269 billion of conventional-conforming loans were originated from July through September, according to Inside Mortgage Finance...

The proposition revises the strict fee limits that Texas places on home-equity lines…