The jumbo features that Moody's worries about include super senior support bonds, exchangeable securities, principal-only bonds, and pool interest-only bonds.

Staff and members of the Mortgage Bankers Association met with the CFPB in recent weeks to discuss how to determine the “interest rate without any discount” that is used to calculate the starting point at which bona fide discount points can be used to reduce the rate and are eligible for exclusion from the qualified mortgage’s points-and-fees cap. Specifically, MBA asked if the interest rate to be used is the rate unique to each consumer or is simply a rate from a standard rate sheet. The trade group also wanted to know what the...

The CFPB’s ability-to-repay qualified mortgage rule is steaming full speed ahead with January implementation, and that has anxious lenders appealing to sympathetic ears on Capitol Hill for relief, one way or another. During a hearing earlier this month before the House Financial Services Committee, Rep. Shelley Moore Capito, R-WV, raised with CFPB Director Richard Cordray concerns she’s been hearing from some of her mortgage lender constituents about the bureau’s pending mortgage rules, including the ATR/QM. During a roundtable she held...

PHH saw its share price spike late last week after rumors spread that it may sell a large block of mortgage servicing rights.

Citi handed pink slips to 1,000 mortgage workers on Monday. It appears that some loan officers were let go.

Nationstar's new filing with the Securities and Exchange Commission offers little in the way of information on the terms of the new $1 billion facility.

Banking regulators believe delinquency rates on HELOCs soon may rise sharply upward as a significant number of second liens reach the end of their draw period.

HUD declined to discuss the contents of the proposed standards or indicate a timetable for a final QM rule.

Genworth U.S. Mortgage Insurance has stepped up its competition with the FHA in the home purchase market by announcing reduced rates and the elimination of certain overlays to make it easier for customers to deliver loans through the government-sponsored enterprises’ automatic underwriting systems. Effective on Sept. 16, the credit policy changes closely align Genworth’s requirements with those for loans approved by Fannie Mae’s Desktop Underwriter or Freddie Mac’s Loan Prospector. Specifically, Genworth will expand guidelines for its Simply Underwrite program to enable lenders to offer affordable low-downpayment financing to ...

The Department of Housing and Urban Development has issued a final rule aligning its streamlined reporting requirements for small lenders with those of federal banking regulators. HUD’s regulations currently require all supervised lenders and mortgagees, regardless of their asset size, to submit annual audited financial statements as a condition of FHA lender approval and recertification. Federal banking regulators, on the other hand, do not require their “small supervised lenders” to submit audited financial statements, but allow them to submit unaudited financial regulatory reports. Unaudited financial reports include a ...