Going forward, the FHFA will seek public comments when the GSEs are looking to launch new activities or products. There are also some broad exceptions to the public notice standard.

In October, new standards for qualified mortgages took effect. It turns out that a provision in the final rule also applies to non-QMs, which could limit originations of loans where lenders look at only a small number of a borrower’s bank statements.

City National Bank said it disagreed with the allegations, but settled anyway...

Appraisal reduction amounts, which measure a new appraisal’s shortfall compared to the loan’s unpaid balance, are generally considered an indicator of expected losses.

Increasingly, nonbanks are using their “owned” MSRs as collateral for repo lines. And why not? Servicing values continue to be strong, and prepayments are almost non-existent.

If the Second Circuit reverses a district court ruling and holds that a syndicated term loan is a security, the implications would be immense for banks, CLOs and other parties.

It’s been an ugly couple of months for crypto financier Silvergate Bank, an FDIC-insured institution. One casualty: its non-QM warehouse finance business.

The Federal Housing Finance Agency, the Department of Housing and Urban Development and the Consumer Financial Protection Bureau have a number of mortgage-related rulemakings in the works, according to their policy agendas.

With the high court declining Fannie Mae/Freddie Mac shareholders’ petition for a writ of certiorari, it’s hard to see what legal avenues are still open to these aggrieved investors.

Although race and ethnicity play a role in the cost of a mortgage, geography, education and loan type may be more important.