FHA lenders have gradually stretched to originate loans for borrowers with more modest credit scores in recent quarters, although these borrowers typically are better positioned to keep up with their payments, according to an Inside FHA Lending analysis of data released by the agency. The average credit score for single-family loans endorsed in the second quarter of 2013 was 693 – the lowest such average in nearly four years. This is partly the result of a shift toward more purchase-money mortgages, which generally have ... [1 chart]

In a letter to DOJ, Sen. Warren said the federal government could have gotten more for FHA under the False Claims Act’s treble damages provision.

Late this week, some reports surfaced suggesting that an “alternative” proposal could surface, requiring a 30 percent downpayment for QRM status.

Nonbanks the likes Ocwen Financial, Nationstar and Walter Investment will continue to be buyers of mortgage servicing rights.

Sales-to-list price ratios on non-distressed properties increased for the seventh consecutive month in July to 98 percent, according to new research from the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.

A spokesman for Wells Fargo told Inside Mortgage Finance that “most of the displacements were on the fulfillment/processing side” of the business and did not include loan officers.

When LoanDepot and imortgage.com merge don't expect any layoffs to occur. Meanwhile, speculators are shorting PHH's stock.

It was the biggest volume of new lending above the conforming loan limit since the second quarter of 2007 – before “emergency” conforming loan limits were authorized by Congress.

Significant opposition to lowering the GSE loan limits will come from Realtors, home builders and members of Congress on both sides of the aisle.

The $11.6 billion deal resolved Fannie's long-standing claims that BofA sold the GSE defective mortgages and mishandled various loans it serviced for Fannie between 2000 and 2008.