Ginnie Mae is expanding a working partnership with the Federal Home Loan Bank of Chicago to help spread the word about its Mortgage Partnership Finance program.

In recent months, Ginnie has moved beyond the pilot stage for its eNotes program and doubled the number of its issuer participants to 22.

The MBA president castigated the government for its response to the banking crisis, particularly regulator efforts to expand their authority over nonbank sellers and servicers.

FHA Commissioner Julia Gordon said FHA plans to “very soon” add a proposal to its drafting table on options that mortgage servicers can use to help borrowers reduce their monthly payments to keep them in their homes.

At a congressional hearing this week, the FHFA director faced four hours of questioning, including queries on the recently rescinded proposed fee based on a borrower’s DTI ratio.

Banks are less aggressive these days when it comes to buying MSRs. But not all. JPMorgan recently acquired a $21 billion package of servicing rights from Rocket, the nation’s fifth-largest processor of loans.

The company estimated more than 90 million households will meet the income eligibility requirements for the program.

If you’re looking for a sign that mortgage banking has bottomed, take a glance at the debt prices of nonbank lender/servicers. Many are up, though not all. Now, if only interest rates would cooperate.

Chase’s top officials shed light this week on how First Republic Bank’s high-quality mortgage assets and affluent borrowers fit right into the megabank’s wheelhouse.

The reason the loans are considered nonprime: a lack of income and employment verification.