The top reasons for FHA condo denials include financial instability, pending litigation, insufficient insurance coverage and outdated or missing documentation.
Eminent domain may be a local matter, but in the context of seizing mortgages, its use would have national consequences, the four senators write in their letter to Treasury Secretary Jack Lew.
Just how big is Wells Fargo's Ginnie Mae market share? At Sept. 30, the bank controlled 31.53 percent of the market. Its closest competitor was JPMorgan Chase with a mere 11.75 percent.
The Alt A origination estimate is based on the volume of first-lien conventional mortgages with interest rates ranging from 150 basis points over the prime mortgage rate to 300 bps over.
The GSEs are beginning to take in a significant amount of money from R&W settlements, but both stand to reap an even larger windfall from a pending civil lawsuit filed by the FHFA against 17 issuers of private label MBS.
Meanwhile, the regulator Monday morning unveiled new master policy requirements for the MI industry, which will make it harder for insurance firms to get out paying claims on defaulted mortgages.