Returning appraisal regulations back to the individual states would be counterproductive, according to James Park, executive director of the Appraisal Subcommittee of the Federal Financial Institutions Examination Council. Park and other experts spoke about the need for standardization and modernization at a hearing in the House Financial Services Committee this week. “Replacing the federal system with a state-based system would confuse, not streamline,” he said, noting that the “cornucopia” of statutes and guidelines are confusing and burdensome for everyone. Bill Garber, director of government and external relations at the Appraisal Institute, agreed...

Most of the life in third-quarter mortgage originations came from the tail end of the refinance boom.

Rep. Jeb Hensarling, R-TX, and chairman of the House Financial Services Committee, touted the benefits of the republican’s PATH Act to create a sustainable housing finance system.

An affiliate of Bayview Asset Management is preparing to issue a unique non-agency mortgage-backed security, according to a presale report by DBRS. The firm plans to package close to 5,000 “daily simple interest” mortgages originated about 10 years ago into a $241.2 million issuance.

Fannie Mae and Freddie Mac have sold more than 59,629 nonperforming loans with a total unpaid principal balance of $11.9 billion, through August 2016, according to a new Federal Housing Finance Agency report.

Tim Howard, former Fannie Mae CFO, called Fannie Mae’s and Freddie Mac’s credit risk transfer program “exercises in deception.”

According to Fannie’s website, the moratorium on bulk MSR transfers does not affect concurrent transfers.

In addition, each programming change would need to be tested…

The September figures represented a 5.7 percent increase from the midway point in the year and an 8.8 percent climb from a year ago.

Purchase mortgages accounted for 67.3 percent of the $4.07 billion in prime non-agency MBS issued during the quarter...