Wall Street analysts said it is unlikely banks will take losses on repurchased delinquent FHA mortgage loans, easing fears that FHA may not fully reimburse those losses due to servicing errors. Commenting on a report challenging banks’ policy of accruing interest on delinquent FHA loans, analysts at Keefe, Bruyette & Woods said ...

Borrowers approved by the FHA to acquire real estate owned (REO) properties under the FHA’s “$100 Down” sales incentive will benefit from new guidance issued recently by the agency. Pre-approved borrowers under an FHA REO program requiring a minimal $100 cash investment may finance ...

Good news for mortgage brokers: the FHA has eliminated the statutory 1 percent origination cap on 203(k) rehabilitation mortgages. This means that loan originators may set and collect “fair, reasonable and customary fees and charges” above 1 percent for originating “fixer upper” mortgage ...

Ginnie Mae servicing continued to show strong growth as it posted a 4.0 percent jump in the first quarter of 2011 from the previous quarter and an overall 19.3 percent increase from the same period last year. The top 50 Ginnie servicers reported $1.11 trillion of single-family mortgage debt outstanding at the end of the... [Includes one data chart]

Several of the top mortgage servicers in the industry reported ongoing shrinkage in their portfolios during the first quarter of 2011, according to a new Inside Mortgage Finance ranking. As a group, the top five servicers reported a 1.1 percent drop in their combined servicing operations from... [Includes one data chart]

Mortgage origination activity dropped sharply in early 2011 and momentum is pointing toward further declines as the housing market limps into a new buying season. Mortgage lenders generated an estimated $325.0 billion in single-family originations during the first three months of the year, a decline of... [Includes two data charts]

One of the emerging compliance priorities for mortgage lenders will be to synchronize as much as possible their adoption of separate rules for “qualified mortgages” and “qualified residential mortgages” developed by federal regulators following the Dodd-Frank Wall Street Reform and Consumer Protection Act. Adding to the challenge is...

The American Guild of Appraisers met with Rep. Barney Frank, D-MA, on April 14 to ask for his help in resolving the guild’s concerns with the Federal Reserve Board’s interim final rule on appraiser independence and reasonable and customary fees, which was implemented on the first of the month...

The Department of Housing and Urban Development clearly spelled out that lenders must be discrete in their use of the FHA “Approved Lending Institution” insignia and defined other specific regulations relating to logo use in a letter to lenders this week. Improper use of HUD or FHA logos can result...

California is the biggest beneficiary of the federal government’s massive footprint in the single-family mortgage market, accounting for 19.9 percent of all loans securitized by Fannie Mae, Freddie Mac and Ginnie Mae during the first quarter of 2011. A new analysis based on the Inside Mortgage Finance MBS Database reveals...[Includes one data chart]