The FHA is calling for broader statutory authority for the Mortgagee Review Board in determining the type and amount of penalties the board can assess to strengthen lender enforcement and eliminate the need for False Claims Act cases.

The Trump administration is reportedly eyeing Mark Calabria, who now serves as chief economist for Vice President Mike Pence, as the next director of the Federal Housing Finance Agency, a five-year post that holds tremendous power over the government-sponsored enterprises.

The proposed capital requirements for Fannie Mae and Freddie Mac aim for risk-based standards that will allow the government-sponsored enterprises – and future competitors – to earn an acceptable return while remaining strong enough to withstand severe economic downturns.

The primary mortgage market’s growing reliance on purchase-money lending helped swing a little more business to correspondent lenders in the third quarter of 2018, according to an Inside Mortgage Finance ranking and analysis. [Includes four data charts.]

Servicers working with distressed borrowers now have fewer loan modification options due to higher mortgage interest rates.

Carrington Mortgage this week announced the launch of its correspondent lending division.

Impac CEO George Mangiaracina: “I don’t believe we’ve seen capitulation yet with respect to other originators.”

In its comment letter to the FHFA, Fannie Mae suggests the rule should use original credit scores and LTV ratios, rather than mark-to-market values…

The appraisal exemption proposal needs final approval from the CFPB...

Wells Fargo remained the top producer of correspondent-originated loans with $26.64 billion in third-quarter volume and a 20.2 percent share of the market…