Since the repurchase and indemnification phenomenon is unlikely to disappear anytime soon, many correspondent lenders, credit unions and other recipients of a repurchase/indemnification demand want to know how best to respond in order to mitigate potential damages. During a recent webinar sponsored by American Mortgage Law Group, AMLG Senior Managing Member James Brody said there are many different factors to consider. “One of the things that really helps in getting any resolution is...

Further empirical confirmation of a recovering mortgage market continued to accumulate at the CFPB during the third quarter, as related consumer complaints dropped 19.8 percent ...

A total of $12.41 billion of non-agency MBS were issued during the third quarter of 2016, according to a new Inside MBS & ABS analysis, but the market continued to rely heavily on a mix of recycled collateral and niche transactions. Overall issuance was up 78.3 percent from the second quarter, including big gains in prime MBS production and re-securitization deals. That still left year-to-date issuance off 43.9 percent from the first nine months of 2015. The huge jump in prime MBS production is...[Includes three data tables]

Fannie Mae and Freddie Mac sold $3.78 billion of credit-risk transfer bonds during the third quarter, a 7.8 percent increase from the previous period, according to a new Inside MBS & ABS analysis of CRT disclosures made by the two government-sponsored enterprises. That brought year-to-date issue in Fannie’s Connecticut Avenue Securities program and Freddie’s Structured Agency Credit Risk program to $10.73 billion, up 13.3 percent from the first nine months of last year. Fannie had...[Includes one data table]

ICYMI: The brouhaha over the Wells Fargo phony account creation debacle took another turn this week, with CEO John Stump opting for early retirement...

Reversing at least temporarily a long-running trend in the mortgage market, the four biggest banks in the U.S. expanded their presence in the GSE single-family market in the third quarter of 2016...

The traditional interpretation of Section 8 of the Real Estate Settlement Procedures Act that the mortgage industry has relied on for decades was vindicated this week when ...

Two FHA lenders in Utah have agreed to pay the federal government a total of $9.25 million to resolve allegations they violated the False Claims Act in connection with badly underwritten FHA-insured loans that later resulted in losses to the FHA insurance fund. Primary Residential Mortgage Inc. (PRMI) and SecurityNational Mortgage Co. became the latest statistics in the government’s effort to prosecute lenders whose practices result in losses to the FHA insurance fund. The two lenders have agreed separately to $5.0 million and $4.25 million settlements, respectively, without admitting to any fault or liability for the failed loans. In separate complaints, the Department of Justice accused...

Recent data on the state of the FHA’s Mutual Mortgage Insurance Fund and program financials suggest that the annual audit will show solid improvement in the government’s 2016 fiscal year, which ended Sept. 30. But there are some huge variables that could have a major impact on the final results that won’t be known until the annual audit is released late next month. The MMIF ended...

Fannie Mae has significantly ramped up its nonperforming loan sales in 2016, while Freddie Mac is running slightly behind the pace it set in 2015. Fannie offered $4.69 billion of NPLs through the first nine months of this year, compared to $2.78 billion for all of 2015. The government-sponsored enterprise announced five more pools totaling $1.39 billion up for sale this week, moving the year-to-date total to $6.08 billion. The latest sale is...