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congressional hearing this week, the FHFA director faced four hours of questioning, including queries on the recently rescinded proposed fee based on a borrower’s DTI ratio.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

FHFA is seeking input on the GSEs’ capital framework, which has major ramifications for pricing policies. According to the FHFA, Fannie and Freddie aren’t generating sufficient returns from their single-family business.

The reading for the total delinquency rate at the end of March was the lowest in the 20-year history of Inside Mortgage Finance’s large servicer delinquency index. Delinquencies are projected to increase as unemployment rises. (Includes data chart.)

A House subcommittee’s hearing this week focused on loan-level price adjustments set for the GSEs. While Republicans raised concerns with recent LLPA changes, Democrats defended the changes.