Warehouse lines of credit extended by commercial banks to non-depository lenders fell a modest 11.8 percent in the fourth quarter on a sequential basis, but executives who work in the sector are reporting usage ratios as low as 20 percent. Based on exclusive survey figures compiled by Inside Mortgage Finance, warehouse providers had an estimated $30.0 billion in commitments at Dec. 31 compared to $34.0 billion at the end of the third quarter. But a commitment is...[Includes one data chart]

The Department of Justice is investigating PNC Financial Services Group and Bank of America in connection with their FHA-related mortgage lending practices, the two financial institutions disclosed in filings with the Securities and Exchange Commission. PNC said it has received subpoenas from the U.S. Attorney’s Office for the Southern District of New York seeking information relating to National City Bank’s lending practices in connection with FHA-insured loans as well as the origination of non-FHA loans and their sale and securitization. Another subpoena was issued...

The VA loan limit for the Honolulu area has been increased to $721,050 from $625,000, thanks to Sen. Brian Schatz, D-HI.

Jumbo production surged 20.9 percent from 2012 levels to an estimated $272 billion – the strongest output for the sector since 2007.

“While we’re trying to lend fairly in an unfair world, the regulatory and enforcement apparatus have created this environment that we’re in and they will be looking to enforce based upon those rules,” said industry consultant Maurice Jourdain-Earl.

JPM has made it clear: the megabank refuses to chase market share in a world of declining originations.

Non-agency mortgage lending staged a minor revolt in 2013, reversing two years of increasing domination of the market by Fannie Mae, Freddie Mac and Ginnie Mae. The only growth spots in the mortgage market last year were in jumbo originations and home-equity lending, according to a new ranking and analysis by Inside Mortgage Finance. Jumbo production surged 20.9 percent from 2012 levels to an estimated $272 billion – the strongest output for the sector since 2007. Home-equity lending was...[Includes two data charts]

The InterLinc executive said there’s a great deal of interest from potential acquisition targets, but he cautions that, “Not everyone wants to make the move.”

Overall, HUD’s entire 2015 budget seeks a 2.6 percent increase over FY 2014 levels to $46.66 billion.

Mortgage bankers are concerned how the proposed FHA fee will be applied and whether it may cause lenders to become even more cautious and less incented to use the full FHA credit box.