The Federal Home Loan Banks may be required to jointly establish at least one entity to aggregate conventional mortgages and use a new government program to issue guaranteed MBS under draft legislation from Sen. Bob Corker, R-TN.

House Financial Services Committee Chairman Jeb Hensarling said The Mortgage Choice Act is needed because the CFPB wrote a flawed and problematic definition that grossly miscalculates points and fees...

At yearend, 28.8 percent of FHA mortgages in Puerto Rico were in some stage of delinquency, including 15.8 percent that were 90 days or more past due. These ultra-high late-payment readings – courtesy of hurricanes Maria and Irma – have caught the attention of both Ginnie Mae and the FHA. …

PennyMac originated $17.04 billion of home mortgages in the fourth quarter, largely through the correspondent channel

The names of Fannie Mae executives potentially involved in conflicts of interest were redacted from the report.

January volume was the lowest monthly total since May 2017…

The new game in town is figuring out who will succeed Mel Watt as director of the Federal Housing Finance Agency...

The GOP housing-finance reform bill being developed in the Senate would keep the current standards for loan limits that apply to the government-sponsored enterprises, according to a draft of the bill released last week. Boosters of the non-agency mortgage market have long called for lower GSE loan limits, but Congress hasn’t shown an appetite to reduce them. The bill was drafted by Sen. Bob Corker, R-TN, and many Democrats have withheld support to this point, including ...

A bill introduced in the Senate last week with some bipartisan support would allow real estate investment trusts to regain access to funding from Federal Home Loan Banks. The bill would overturn a 2016 rule from the Federal Housing Finance Agency that restricted captive insurance companies from being FHLBank members. Before the FHFA rule took effect, a number of REITs established captive insurers to gain access to FHLBank advances, which come with better terms than ...

PennyMac Financial will resume originating jumbo mortgages in the correspondent channel this year, the lender announced this week. And jumbos will be offered in the broker channel operations recently launched by PennyMac. The House approved a bill this week that would shrink the potential market for non-qualified mortgages. H.R. 1153, the Mortgage Choice Act, was approved on a 280-131 vote with some bipartisan support. The legislation would ... [Includes two briefs]