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FHA Requires Documentation of Certain Downpayment Assistance Funds

May 15, 2013
George Brooks
The Federal Housing Administration has streamlined requirements for permissible sources of downpayment funds, which should be a boost to borrowers using government financing.
Read More

Subprime Lender Deephaven Searching for Warehouse Lines

May 15, 2013
Paul Muolo
Is the warehouse lending community closed to new subprime lenders, even if they have high downpayment requirements?
Read More

Shellpoint Provides More Details on First ‘Nonconforming’ MBS

May 15, 2013
Paul Muolo
A planned MBS from Shellpoint could provide more liquidity for loans made to self-employed borrowers.
Read More

Short Takes: Turn the GSEs Into a Cooperative? / Share Price of Fannie Common Getting Frothy / FHA Finally Gets Some Good News / LPS Launches New Product / Fannie Ready for Modifications

May 15, 2013
George Brooks, Paul Muolo, and Charles Wisniowski
Why is the share price of Fannie Mae's junior preferred stock rising so much? Also, send Freddie Mac "back to the future"?
Read More

GSE Mortgage Portfolios Continued to Shrink in First Quarter

May 14, 2013
John Bancroft
Fannie Mae and Freddie Mac are continuing to shrink their retained portfolios as mandated by their regulator.
Read More

Mortgage Deduction Maximized on the Coasts, Costs U.S. $72 Billion Annually

May 14, 2013
Thomas Ressler
The mortgage interest deduction is costing the U.S. Treasury roughly $72 billion a year.
Read More

FHFA Called on to Turn Jumbo Market Over to Non-Agency Sector

May 14, 2013
Brandon Ivey
One mortgage expert warns that lowering GSE loan limits one step at a time to $417,000 could leave parts of the residential market underserved.
Read More

SunTrust Hires Former CitiMortgage Executive to Run Retail Mortgages

May 14, 2013
Paul Muolo
Jeffrey Walker, the new head of residential retail for SunTrust, has worked for such lenders as CitiMortgage and Wells Fargo.
Read More

Freddie Streamlined Modification Program to Boost MI Sector

May 14, 2013
Paul Muolo
A new modification program from Freddie Mac also will pay mortgage servicers $1,400 per unit for each successful loan restructuring.
Read More

Short Takes: Sen. Franken Tries to Tell Wall Street How to Rate Deals / Impac Rewards Top Executives Nicely / A New Player in Warehouse Lending? / 360 Mortgage Continues to Expand in Wholesale / Two New Subcoms from MISMO

May 14, 2013
Brandon Ivey, Paul Muolo, and Thomas Ressler
If. Sen. Franken has his way, the MBS rating system will change. Meanwhile, top executives at Impac Mortgage clean up.
Read More
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