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Texas Capital Bank Lawsuit Against Ginnie Can Proceed

April 12, 2024
Monica Hogan
Texas judge allows “tortious interference with property rights” claim to proceed against Ginnie Mae, but dismisses arbitrary and capricious claim and promissory estoppel charges.
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Jumbo Credit Standards Loosen Amid Home Price Growth

April 12, 2024
James Dohnert
Credit standards for jumbo mortgages loosened in March. The changes came as home prices continue to increase.
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USDA Revamps Single-Family Handbook

April 12, 2024
Monica Hogan
The revisions to USDA’s technical handbook will take effect next month.
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HUD Acting Secretary Says Housing in a Pivotal Moment

April 12, 2024
Monica Hogan
Adrianne Todman, the new acting secretary of the Department of Housing and Urban Development, called for more action to solve the affordable housing crisis.
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Around the Industry

April 12, 2024
Monica Hogan
CHLA endorses House Resolution 612 to protect veterans benefits; VA finalizes rule updating loss-mitigation terminology; VA adopts a no cash, no check policy; Ginnie adds low- to moderate-income data disclosures related to its home equity conversion mortgage MBS program; HUD to hold vacant home sale related to its HECM program.
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Ginnie Mae Warns Issuers on Higher Prepayment in MBS

April 11, 2024
Monica Hogan
Ginnie cautioned issuers that it monitors their portfolios to ensure they are meeting acceptable risk parameters, including those related to prepayment activity.
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How Money-Losing Better Keeps Selling Loans to Fannie

April 11, 2024
Paul Muolo
Better keeps losing a ton of money but continues selling millions of dollars in loans to Fannie Mae. The secret is in cash left in the cupboard.
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Fed Discusses Slowing Balance Sheet Reduction

April 11, 2024
Dennis Hollier
Newly-released minutes from the Fed’s meeting in March indicate that the Fed is ready to slow the pace of Treasury runoff while maintaining the already slow pace of MBS runoff.
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Court Allows TCB Suit Against Ginnie to Proceed

April 11, 2024
Monica Hogan
A district court judge threw out parts of a lawsuit against Ginnie Mae for canceling Texas Capital Bank’s first-priority lien on a loan portfolio of Reverse Mortgage Funding but allowed a key challenge to go ahead.
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A Sigh of Relief for Lender in Lawsuit Involving Underwriting

April 11, 2024
Brandon Ivey
A foreclosure action against a borrower for alleged mortgage fraud landed a Florida-based lender in court for punitive damages.
Read More
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