In anticipation of a slight decline in multifamily mortgage originations, the Federal Housing Finance Agency last week lowered the multifamily lending caps for Fannie Mae and Freddie Mac in 2018. GSE multifamily business will be capped at $35.0 billion, down from the $36.5 billion level it’s been the past two years. FHFA analyzes the multifamily loan origination market size each quarter to decide if it will adjust the GSEs’ purchase limits. In the event the market picks up in 2018, the agency could raise the cap. And if the market slows even more than expected, it could lower the caps further.

Fannie Mae CEO Tim Mayopoulos said the housing crisis has made people cautious about buying a home and that confidence in the market needs to be restored. Speaking at the Detroit Economic Club last week, Mayopoulos emphasized the need for affordable housing, calling the issue “urgent.” More than one million starter homes have been lost since the crisis, according to Mayopoulos. He pointed out that from 2012 and 2015, the most affordable one-third of homes rose 38 percent in price, and the inventory dropped by 39 percent. In addition to the decline in the number of affordable homes, he said people aren’t as comfortable in making a home purchase as they were before the crisis.

At press time, Walter’s share price was up 38 percent on the day to $0.52. However, its five-year high is $45.92.

Mick Mulvaney has been in charge of the CFPB all week and we’ve yet to hear one prediction that subprime mortgage lending will revive with a vengeance…

Mulvaney’s ascension has raised expectations the bureau will alter its legal positions in high-profile cases such as those involving Ocwen Financial and PHH…

Acting Ginnie Mae president Michael Bright said the task force is examining critical issues, important data and lender behaviors related to refinancing loans…

Industry lobbyists believe one key legislator in favor of the Ginnie concept is House Financial Services Committee chairman Jeb Hensarling, R-TX…

Earlier this week, GR promoted two senior vice presidents – James Elliot and Chris Knapp – giving them additional responsibility over sales and recruiting…

For lenders, the killer was rising expenses: $8,060 in 3Q17 compared to $7,774 in the second quarter…

Jumbo mortgage production was up 9.6 percent in the third quarter, a slightly faster growth rate than the 8.8 percent increase in first-lien originations during that period, according to a new ranking and analysis by Inside Mortgage Finance.