The Mortgage Bankers Association wants lower guaranty fees from Fannie Mae and Freddie Mac but is willing to barter for them.

Based on a referral from the Federal Deposit Insurance Corp., the CFPB has compelled a Texas homebuilder to surrender more than $100,000 he received in alleged kickbacks for referring mortgage origination business to entities the bureau asserts are sham mortgage companies. According to the CFPB, the homebuilder, Paul Taylor, received illegal referral fees through partnerships with Benchmark Bank and Willow Bend Mortgage Company. Taylor and Benchmark created and jointly owned Stratford Mortgage Services LC, which claimed to...

Aspects of the CFPB’s ability-to-repay rule and ‘qualified mortgage’ standards may make credit access difficult for homebuyers with low credit scores, including many low-income and first-time homebuyers, Federal Reserve Board Governor Elizabeth Duke said recently. “First, the QM requirement that borrower payments on all debts and some recurring obligations must be 43 percent or less of borrower income may disproportionately affect less-advantaged borrowers,” Duke said. “Board staff tabulations based on the Survey of Consumer Finances...

Most of the CFPB’s requirements stemming from its blizzard of mortgage rulemakings in January take effect sometime next year. But there are a few notable exceptions, including the Truth in Lending Act ban on mandatory arbitration provisions in certain mortgage loans, which kicks in June 1, 2013. “Lenders now using mortgage loan documentation containing such provisions should take steps to ensure that they (and references to them) are removed from documentation to be used for loans that will be subject to the ban,” said Alan...

The National Association of Federal Credit Unions is apprehensive about the unintended consequences of the Federal Housing Finance Agency’s decision to limit Fannie Mae and Freddie Mac future mortgage purchases to ‘qualified mortgages’ as defined by the final rule issued earlier this year by the CFPB. Earlier this month, the FHFA directed the two government-sponsored enterprises to limit their future mortgage acquisitions to loans that meet the requirements for a qualified mortgage, including those that meet the special or...

Real estate investment trusts are beginning to scale back their investments in MBS. Meanwhile, some are hunting for MSRs.

Since the housing bust, the Federal Reserve has purchased roughly $1.1 trillion of MBS backed by Fannie Mae, Freddie Mac and Ginnie Mae.

HUD wants the authority to fix the government's ailing reverse mortgage program.

Hedge funds are paying as much as 20 cents on the dollar for preferred stock in Fannie Mae and Freddie Mac. Meanwhile, the GSE buyback war is not over yet.

Deephaven Mortgage, a new subprime lender headed by a former Goldman Sachs official, is seeking warehouse lines of credit, according to one banker. The banker, requesting anonymity, said his institution was approached by the North Carolina-based Deephaven in the past few weeks but decided to pass on the credit. The warehouse lender said he believes that, for now, the traditional warehouse community will not extend credit to subprime lenders, even if they have high downpayment requirements and [Incluides two briefs]