The U.S. Attorney’s Office for the District of Connecticut, on behalf of the RMBS Working Group, is seeking an order to compel Clayton to cooperate with a subpoena issued in early July.

Except for Title I property improvement loans, HUD proposes to adopt the statutory points and fees structure for all FHA-insured single-family mortgages as implemented under the FPB's QM/Ability-to-Repay final rule.

FHA will continue to insure mortgages if the government closes but cautions that its commitment authority eventually will run dry. Potential homeowners "will be impacted," it warns.

The much anticipated announcement on lower GSE loan limits could be pushed back to mid-October.

Collateral was much less of an issue in the purchase market, accounting for just 14 percent of conventional denials.

The government accused the San Diego-based Plaza Home of charging black and Hispanic borrowers higher fees than white borrowers on mortgages sourced through the wholesale channel.

Critics of program contend that the strings attached by Fannie Mae require too much oversight of REO investors, driving away potential top bidders.

The mortgage and housing sectors expect the Federal Housing Finance Agency to unveil lower GSE loan limits this fall – it’s just a matter of when. A handful of developments are affecting the timing of that decision, including intense lobbying by the National Association of Realtors and National Association of Home Builders, and a growing concern that mortgage bankers are already swamped with implementation deadlines tied to a slew of new rules from the Consumer Financial Protection Bureau.

FHA admits it will need a bailout, well sort of.

Servicers largely approve of an accounting change for foreclosures proposed by the Financial Accounting Standards Board. However, industry participants differ on particular disclosures that would accompany the proposed change. In July, FASB proposed clarifying when a foreclosure occurs, for accounting purposes. The accounting board said reporting practices for troubled-debt restructurings and residential foreclosures are currently varied due to the lack of an accounting definition for ...