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Certain FHA Loans Could Fall Into ‘Higher-Priced’ Bucket

May 22, 2013
George Brooks
Thanks to coming changes in FHA’s mortgage insurance premium cancellation policy, investors in the secondary market met avoid these loans.
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Short Takes: Fannie and Freddie Sitting on Huge Portfolio Gains? / Mortgage Applications Get Hammered / Who Really Owns the Common Securitization Platform? / LPS Sees a New Low for Late Payments / 360 Mortgage to the Rescue

May 22, 2013
Paul Muolo
Are Fannie Mae and Freddie mac sitting on huge untapped profits?
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More GSE Business in Multi-Issuer Pools as Smaller Firms Cope with Depleted Correspondent Channel

May 21, 2013
John Bancroft
Many smaller mortgage lenders are looking for alternatives to selling loans to large national aggregators like Wells Fargo.
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Republicans Seek to Revise QM Requirements, Maybe a Repeal?

May 21, 2013
Brandon Ivey
Might the controversial "qualified mortgage" rule be repealed? Maybe, if House Republicans have their way.
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HSBC, Wells Fargo Test the NPL Market With Huge Auctions

May 21, 2013
Paul Muolo
Wells Fargo and HSBC are stepping up sales of nonperforming mortgages, while keeping a lid on the details.
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New Ginnie Mae Buyout Policy Eliminates Consecutive Lates

May 21, 2013
George Brooks
MBS issuers, under a new proposal, will have greater leeway in buying delinquent mortgages out of Ginnie Mae pools.
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Citi Names Private Bank Chief to Head Mortgages, More Jumbos?

May 21, 2013
Paul Muolo
Will CitiMortgage be an even greater player in jumbo lending with its new CEO?
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Short Takes: New York Slow on Loan Officer Approvals / GSEs Win Transfer Tax Case / Will the CFPB Unionize? / City National Enters Warehouse Space / Fay Servicing to Ramp up Hiring

May 21, 2013
Paul Muolo, Thomas Ressler, and Charles Wisniowski
New York State may be among the worst in the nation when it comes to approving loan officer applications.
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Appendix Q Compliance Key to Maintaining QM Legal Protections

May 20, 2013
Among the critical areas that mortgage lenders must pay close attention to in the CFPB’s ability-to-repay, qualified mortgage rule is what’s known as Appendix Q, which contains detailed underwriting guidance on how creditors must calculate the debt-to-income ratio in order to make a general QM loan subject to the 43 percent DTI limit. As adopted, Appendix Q generally requires items to be considered and verified for the two prior years, and requires well-documented projections for the following three years. However, on April 22...
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Sen. Reid Won’t Give Up on Confirmation Hearing for Cordray

May 20, 2013
Thomas Ressler
Sen. Harry Reid is vowing that CFPB director Richard Cordray will get another vote in the Senate.
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