The U.S. Supreme Court last week validated the disparate-impact legal theory as it relates to housing discrimination in the case of Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. And while the immediate effect of the ruling has more to do with the Department of Housing and Urban Development’s enforcement of the Fair Housing Act’s restrictions on disparate impact, there are definitely implications for the CFPB’s enforcement of the Equal Credit Opportunity Act’s prohibitions against disparate impact. The crux of this case was whether disparate-impact claims are cognizable under the Fair Housing Act of 1968, where a plaintiff alleges discrimination based on the disparate impact that a defendant’s “facially neutral” practice has upon members of ...

VA jumbo originations outpaced FHA jumbo production, which totaled $2.8 billion in the first quarter, up 17.0 percent from the prior quarter.

Why do loan turn times – application to closing – vary so much?

In total, the Baker Street hedge fund now controls 8.4 million shares of Walter Investment Management, the parent company of Green Tree Servicing.

According to figures compiled by Inside Mortgage Finance, the privately held Prospect ranks 34th among all residential lenders.

Since then, Quicken has conducted a thorough review and has “proactively taken steps to ensure all [VA] mailings reflect our brand and quality standards,” Emerson said.

Bank holdings of non-agency MBS declined by 16.1 percent compared with the first quarter of 2014...

Ginnie Mae securitized $6.6 billion of VA jumbo loans in the first three months of 2015, up 15.9 percent from the prior quarter, according to an Inside FHA/VA Lending analysis of Ginnie Mae data.Jumbo loans – single-family mortgages with loan amounts exceeding $417,000 – comprised 18.7 percent of total VA originations in the first quarter. VA jumbo originations outpaced FHA jumbo production, which totaled $2.8 billion in the first quarter, up 17.0 percent from the prior quarter, according to the Inside Mortgage Finance database. VA jumbos in Ginnie mortgage-backed securities issued in the first quarter included modified VA loans as well as those originated in Alaska, Guam, Hawaii and the U.S. Virgin Islands. Wells Fargo ranked first among securitizers of VA jumbos in the first quarter, with $1.3 billion in production. Second-ranked Freedom Mortgage conveyed $652.7 million in ... [ 1 chart ]

(*)Hatteras Financial agreed this week to acquire Pingora Asset Management and Pingora Loan Servicing. Hatteras said the acquisition will help the real estate investment trust acquire mortgage servicing rights, including MSRs on the REIT’s jumbo adjustable-rate mortgage flow business ...

Former Goldman Sachs officials sure like the nonprime mortgage space. (It's all about yield.)