HUD and FHA offices will be closed on Friday. Foreclosure activity was up and down in May. And the "nerdy" reference behind Fenway Summer.

Mortgage lenders are increasingly anxious that they may be blindsided by fair lending claims based on the disparate impact theory as they try to keep their business within the safe harbor for qualified mortgages under the new ability-to-repay rule. “My concern is about who’s going to do a QM and who’s going to do [non-QM] ability-to-repay, and how can we somehow get a disparate impact out of this?” said Charles Lewis, vice president of compliance services at the Missouri Bankers Association. Speaking at the American Bankers Association’s regulatory compliance conference in Chicago early this week, Lewis urged...

CFPB officials claim that lenders will originate non-qualified mortgages, though industry participants have been skeptical due to the liability involved with such loans. Raj Date, the former deputy director of the CFPB, detailed how his new firm will originate non-QMs.

The Federal Housing Finance Agency is holding a two-day, closed-door working group Thursday and Friday with force-placed insurance stakeholders following the FHFA’s recent actions to shutter an insurance proposal by Fannie Mae and its policy proposal to develop a set of force-placed aligned standards.

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.

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

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.

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.