Department of Housing and Urban Development Secretary Ben Carson is getting good reviews from mortgage industry participants regarding his congressional testimony late last week on program reforms, particularly his strategy for dealing with FHA exposure under the False Claims Act. Industry observers noted an improvement in Carson’s knowledge and understanding of HUD programs since taking office in March. His nomination by President Trump was controversial because ...

The mortgage interest deduction, or MID, used to rank with apple pie and motherhood for real estate agents, mortgage lenders and homebuilders. But against the backdrop of an intense effort by Republicans to overhaul the tax code, some groups are showing more flexibility on the issue. Complicating matters is that neither the Trump administration nor key players on Capitol Hill have been explicit or consistent in what they want. The Mortgage Bankers Association wrote to the ...

The securities industry is backing Ginnie Mae’s stepped-up efforts to curb loan churning and rapid refinancing of VA loans and expressed its concern over how such improper lending practices might affect borrowers and MBS investors. In a letter this week to Michael Bright, Ginnie’s chief operating officer and acting president, the Securities Industry and Financial Markets Association lauded the agency’s investigation of aggressive refinancing of VA loans. The practice has ...

It’s been a busy year in whole loan trading for MIAC Capital Markets. The advisory firm has sold $1.2 billion of product year to date, almost double what it did all of last year. And the way things stand today, 2018 could be even better. According to Steve Harris, managing director for MIAC, the reason for the pickup in activity is simple: growth in non-agency lending, coupled with stronger demand from depositories for loans that can help them meet Community Reinvestment Act requirements ...

Mortgages delivered to the GSEs with an unpaid principal balance of $29.30 billion are included in the transaction.

The MI also terminated Jeff Tennyson as president of the unit. No replacement will be named, a spokeswoman told IMFnews.

Compared to the same period a year ago, residential loan production declined by 19.6 percent...

Might this suggest that g-fees charges could spike next year when zero hour comes?

Ginnie Mae issuers securitized $85.4 billion of purchase loans in the third quarter, falling just short of the record $85.4 billion set in the third quarter of last year.

Investors are still waiting for Ocwen’s biggest outstanding dispute – the one with the CFPB – to be settled, one way or the other.