Former FHFA Acting Director Edward DeMarco wanted to shrink the multifamily programs of Fannie and Freddie, but that initiative has been placed on the back burner.

Another positive for the production market is a new willingness on the part of certain warehouse banks to finance the production of non-QM loans.

Is the investment banking arm of JPMorgan Chase sniffing around the non-QM space? It sounds crazy, we know...

Total mortgage complaints have been trending downward since they peaked at 15,239 in the first quarter of 2013.

DBRS said one of the strengths of the new jumbo deal is its traditional lifetime representations and warranties.

With certain exceptions, credit unions invest almost exclusively in agency product, avoiding jumbo securities.

It’s Official: QRM = QM. Last week, the Office of the Comptroller of the Currency, the Federal Reserve Board, the Federal Deposit Insurance Corp., the Securities and Exchange Commission, the Federal Housing Finance Agency, and the Department of Housing and Urban Development adopted a final version of their risk-retention rule for securitized mortgages. Under the new rule, the definition of a “qualified residential mortgage” (QRM) will be no broader than the definition of the “qualified mortgage” (QM) as promulgated by the CFPB in its ability-to-repay rule. Mortgage lending industry representatives were generally pleased with the move. Independent analysts said they expected the near-term impact of the QRM to be quite limited. However, others noted that the development does place a ...

The CFPB needs to provide additional clarity on how a “rolling delinquency” triggers the 120-day delinquency period required before a mortgage servicer can begin foreclosure under the bureau’s mortgage servicing rule, the American Bankers Association said. A rolling delinquency occurs when a delinquent borrower resumes making some payments but never becomes current on the loan. In a letter to the CFPB last week, the ABA noted that in responding to inquiries as to how banks should apply the 120-day rule in rolling delinquency situations, the CFPB has informally recommended that servicers look to common interpretations of “delinquency,” which may be found in best practices, industry standards, state law and contract law. “Because borrowers have a private right of action to ...

In the Castle & Cook case more than 9,400 consumers received checks from the settlement with the CFPB. But one homeowner decided not to stop there...