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CA County Finds Way to Adopt PACE

June 7, 2013
A new financing program for home energy retrofits that leverages home equity is gaining popularity among California homeowners despite efforts by the Federal Housing Finance Agency to discourage lenders from offering such products. Called the HERO program, the initiative was developed jointly by West Riverside Council of Governments and Renovate America, a San Diego-based company that works with local governments in designing low-cost financing programs for home and business owners that want to ...
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More Details on the Corker-Warner GSE Bill, Fannie/Freddie Shareholders Get A Break

June 6, 2013
John Bancroft
The draft includes numerous provisions designed to ensure access to the revamped secondary market for credit unions and community banks with less than $10 billion in assets.
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Ex-CFPB Deputy Director Raj Date Launches Firm to Fund Non-QM Mortgages

June 6, 2013
Brandon Ivey
Raj Date's new mortgage firm bills itself as a consumer finance company and is stacked with former high-level employees of the Consumer Financial Protection Bureau.
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Broker Trade Group Vows to Sue CFPB Over ATR Amendments

June 6, 2013
Paul Muolo
The National Association of Independent Housing Professionals believes there is an anti-broker bias at the CFPB, citing new QM adjustments.
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Short Takes: Here Come the Mortgage Layoffs? / Genworth Sheds Jobs / Bay Equity Liberalizes Underwriting / Wells Fargo Settles with HUD on REO / CFPB-FDIC Meeting Closed to Media

June 6, 2013
George Brooks, Brandon Ivey, Paul Muolo, and Thomas Ressler
Will the nation's megabanks begin shedding mortgage workers if loan applications don't rise soon?
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By Not Allowing for MI Cancellation, FHA Loans Could be Deemed ‘Higher Priced’

June 5, 2013
George Brooks
The FHA said it is working to define a “qualified mortgage” standard that meets the QM criteria under the Dodd-Frank Act, which takes higher priced mortgages into account.
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White House Petition to ‘Restore Fairness’ to GSE Shareholders Not Looking Good

June 5, 2013
Charles Wisniowski
As of Wednesday morning, a GSE shareholder petition accessible through the White House website had 874 of the 100,000 signatures required by July 1.
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Warehouse Commitments Strong in 1Q, But Concerns Surface About Next Year

June 5, 2013
Paul Muolo
Nonbanks continue to request warehouse lines of credit but because of declining origination volumes, the thirst is easing somewhat.
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Redwood Taps 67 Small Lenders for Latest Non-Agency Jumbo MBS

June 5, 2013
Brandon Ivey
The top contributors to the new Redwood Trust jumbo deal include George Mason Mortgage, Cole Taylor Mortgage, W.J. Bradley Mortgage Capital and PrimeLending.
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Short Takes: Rep. Issa Wants Answers on FHA MMI Audit / Mortgage Applications Tumble Again / Subprime MBS to Hit the Market / First Guaranty Mortgage Continues its Expansion / LPS Upgrades Network

June 5, 2013
George Brooks and Paul Muolo
Is a scandal brewing at FHA concerning how it handled the independent audit of the Mutual Mortgage Insurance fund or is it "politics"?
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