The U.S. Court of Appeals for the Federal Circuit affirmed a lower court decision denying a breach of contract claim against the Department of Housing and Urban Development.

FHA released a draft mortgagee letter this week proposing new nonjudicial foreclosure processes for mortgage liens held by the secretary of the Department of Housing and Urban Development.

The company previously launched an automated underwriting tool for government-sponsored enterprise mortgages, and is now considering one for VA loans.

The changes include higher loan limits for the 203(k) loans as well as higher fees for FHA-approved consultants.

FHA releases draft guidance on employment requirements for direct endorsement underwriters; OIG outlines top HUD management challenges; MISMO plans reverse mortgage data standards; and HUD announces latest appointments to Housing Counseling Federal Advisory Board.

A panel of mortgage industry veterans concluded that the best scenario MBS investors can hope for in the upcoming election is that neither side wins a clean sweep of the presidency and Congress.

The rating service proposed more closely aligning its criteria for rating U.S. residential MBS with how it assesses residential MBS in other countries. The likely result: no downgrades and many upgrades.

Issuance of vehicle ABS is nearing another record and spreads remain tight, indicating that there’s plenty of investor demand for the asset. There are some concerns about performance, particularly for subprime auto ABS.

Residential MBS transactions will likely experience a spike in delinquencies, but performance will return to pre-storm levels within a year, according to Moody’s.

An expansion of publicly held agency MBS means that primary dealers’ MBS holdings have also grown, filling a void left by the Fed.