The new ability-to-repay (ATR) rule and the “qualified mortgage” definition will result in more predictable, less costly servicing for prime QMs and increased complexity for subprime and non-QMs, according to an analysis by Deloitte Touche. The ATR rule defines an ability-to-repay standard for mortgages, including eight borrower characteristics to be considered in the lending decision. It also creates a QM definition that clarifies compliance with the ATR standard for loans with certain features and ...

The recent court ruling which called into question the legitimacy of certain recess appointments – including that of CFPB director Richard Cordray – also means the agency may not have any regulatory oversight over nonbanks.

Residential production increased modestly during the fourth quarter of 2012, according to a new Inside Mortgage Finance ranking and analysis.

Fannie Mae appears to be getter faster in approving seller/servicer approvals.

FHA chief warns against false advertising.

Quicken is now a top-five ranked residential retail lender, but some of its loan volume comes from correspondent purchases.

Although Fannie Mae has set purchase limits on how much production newly approved seller/servicers can sell to the GSE, Freddie Mac has shied away from such caps.

Nationstar Mortgage is telling potential investors in the company that it plans to be a significant player in settlement services, REO management, processing and other areas.

Mortgage production volume increased modestly during the fourth quarter of 2012, thanks largely to continuing gains by a number of mid-sized lenders, according to a new Inside Mortgage Finance ranking and analysis. An estimated $495.0 billion in new single-family mortgages were originated during the final three months of 2012, up 2.1 percent from the previous quarter. Including a slightly revised estimate for the third quarter, total mortgage originations hit $1.835 trillion during 2012 – a solid 24.8 percent gain over the previous year. That made 2012 the second-strongest year since the housing market began to come unglued back in 2007. It’s no surprise that agency programs continued...[Includes two data charts]

Residential lenders that are relatively new to the seller/servicer ranks of Fannie Mae continue to gripe about the purchase limits the GSE has placed on them, causing the agency to spell out its reasoning in an online commentary. According to a recent message posted to Fannie’s website by Executive Vice President and Chief Risk Officer John Nichols, the caps the GSE placed on new customers – nonbanks primarily – were caused by what the company calls a “significant shift in the composition of our customer base and the emergence of many new originating institutions with whom we have done little or no business.” He adds: “This rapid change in the marketplace prompted...