As part of the program, the GSE will enhance loan-level disclosures for the RPLs to provide more transparency.

A spokesman for BofA declined to provide any color on the mark, but provided a link to past financial filings where the bank talks about its hedging activities which are based on “model and other cash flow” assumptions.

Pricing on the deal was good, but investor fears rule the day.

The delinquency rate declined by 8.4 percent in March compared with February and was down 12.4 percent on an annual basis.

The Mortgage Bankers hailed the bill for supporting a number of MBA priorities and for rejecting an administration proposal to fund FHA technology upgrades through a fee on lenders.

The nonbank share of the market for servicing mortgages in Gnnie Mae MBS increased from 35.05 percent at the end of the first quarter of 2015 to 46.73 percent at the end of the first quarter of 2016.

While most borrowers felt positive about the new forms, 63 percent said their experience with TRID prevented them from closing on their new homes within the desired timeframe.

The Department of Housing and Urban Development has issued a notice to establish a computer-matching program between FHA and the VA that would enable the two agencies to prescreen mortgage applicants. The notice was published in the April 15 Federal Register. The computer-matching program would allow HUD to incorporate VA debtor files into the department’s Credit Alert Verification Reporting System (CAVRS). Consequently, both the FHA and VA would be able to prescreen loan applicants and identify who is delinquent or in default on a federally guaranteed mortgage loan. The use of CAVRS would allow HUD to monitor its FHA programs better and prevent the extension of credit to individuals who are delinquent or in default on their obligations to HUD and other federal agencies. Meanwhile, VA expects to achieve savings through risk reduction and ...

The Department of Housing and Urban Development has revised guidance to lenders for calculating monthly student-loan payments for debt-to-income ratio purposes. The change is aimed at helping more borrowers with student-loan obligations to qualify for an FHA-insured mortgage. Currently, the FHA requires lenders to calculate a monthly payment for deferred student loans based on 2.0 percent of the outstanding balance, and include it in the borrower’s DTI for qualifying purposes. The disadvantage of the current method of calculation is that it makes it harder for the borrower to qualify for an FHA loan, according to Marc Savitt, president of The Mortgage Center, an exclusively FHA/VA lender in Martinsburg, WV. Under the revised guidance, regardless of the borrower’s payment status, the lender must use: (a) the greater of 1.0 percent (a 50 percent reduction from the current 2.0 percent) of the ...

More large lenders may pull back from FHA lending in the wake of this month’s massive settlements between two major FHA lenders and the Department of Justice to resolve alleged violations of FHA lending guidelines and the Federal Claims Act, warned a Baker Donelson attorney in a recent analysis. As DOJ increases its use of the FCA, “large lenders will continue to step away from FHA originations,” said Craig Nazarro, of counsel at Baker Donelson in Atlanta and author of the analysis. Nazarro also warned nonbank FHA originators of the risk they are taking on by continuing to originate FHA loans and growing their government-backed loan portfolio as the larger banks exit or limit their participation in the FHA market. “Many large lenders have faced or are currently facing these [enforcement] actions, and from the [DOJ’s] recent statements, it does not appear that they are slowing down ...