Speaking at a trade show gathering, the ABA's Chris Lewis urged bankers to educate upper management as well as front-line loan officers about the finer nuances of the Consumer Financial Protection Bureau’s ATR rule.

FHA officials had sought the legislation so they can act quickly to address problems involving the troubled HECM program.

Bank of America recorded $10.45 billion of mortgage repurchases and indemnifications during the first quarter of 2013, according to a new Inside Mortgage Trends analysis of recently released call report data.

Five different nonbank lenders were asked by Inside Mortgage Finance to name the slowest states in terms of approval times. All cited New York as being among the worst.

Rep. Carolyn Maloney, D-NY, countered that a purely non-agency mortgage market would be “a disaster to our economy.”

The Inspector General of HUD plans to expand audits of FHA servicers later this year.

The M&A rumor mill continues to spit out names. An offering book is circulating on CashCall and at least one other shop, IMF has learned.

The latest Bexil American Mortgage officer to leave is Jay Fuller, who held the title of national sales manager.

One banker said her institution might opt to do only non-Qualified Mortgage lending, just for simplicity’s sake.

Roughly $148 billion of single-family agency MBS were issued last month, down almost 3 percent from April’s level. May was the slowest month for agency MBS issuance so far in 2013.