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Short Takes: Will FHA Make a Change on the Loan Limit Cap? / New Applications Worst in Six Years / Private-Money Starts to Rock n Roll / Delinquencies on the Rise? It Depends on Who You Ask / Beer and Mortgage Banking

December 23, 2013
Paul Muolo
One former regulator told us that HUD is relying too heavily on foreclosure sales, which can drive down median values.
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FHA Extends Appeal Process on Lowering the High Cost Loan Limit

December 23, 2013
Paul Muolo
According to calculations from Inside Mortgage Finance, some counties will see the limit fall to $271,050. “At the very least FHA should allow for a phase-in period,” said one industry lobbyist.
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Banks Cautiously Raise MSR Values in Third Quarter

December 23, 2013
John Bancroft
As an industry, banks assigned a fair-market value of $48.4 billion to their mortgage servicing rights, according to figures compiled by Inside Mortgage Trends.
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Watt: FHFA Will Delay LLPA and G-Fee Hikes

December 23, 2013
Charles Wisniowski
Mel Watt said he will formally announce the delay in higher LLPAs and g-fees after he is sworn in on Jan. 6, the same day he will resign his House seat.
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Residential Finance Corp. in Asset Sale Deal with PMAC? Earn Out of 15 BPs?

December 23, 2013
Paul Muolo
A few months back top executives at RFC denied to Inside Mortgage Finance that a sale was in the works.
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Jumbo MBS Issuance Expected to Resume in Early 2014

December 23, 2013
Brandon Ivey
Issuance of jumbo MBS was strong in 2013 until interest rates started to rise in May due to concerns that the Federal Reserve was set to taper its stimulus efforts.
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Short Takes: Who Will Hire Ed DeMarco? / Watt Will Roll Back Multifamily Changes Too / OCC Sees Improving Delinquencies / Essent Enters the Russell 2000 / Impac Selling Retail Branches and Cutting Staff

December 23, 2013
Paul Muolo and Charles Wisniowski
Will departing FHFA chief Ed DeMarco go work for a hedge fund? Stranger things have happened.
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Maybe the Mortgage Employment Picture Isn’t So Ugly After All

December 23, 2013
Paul Muolo
A handful of firms say they are still aggressively recruiting residential loan officers who have a solid background in purchase-money lending – that is, sales professionals with deep ties to Realtors and home builders.
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Are Smaller Lenders Really Ready for QM?

December 23, 2013
Thomas Ressler
Also note that the ATR rule provides additional flexibility to small lenders in that the safe harbor has been expanded to 3.5 percent over the average prime offer rate.
Read More

CFPB and DOJ Want $35 Million From PNC to Settle Discriminatory Mortgage Charges

December 23, 2013
Although the settlement has been filed and agreed to by PNC, it still requires court approval.
Read More
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