Consultant Joshua Rosner of Graham-Fisher said the letter is significant because it marks the first time that the ICBA has joined with civil rights groups and housing organizations on a GSE-related matter.

At least two foreign-based investment banks are ready to enter the non-QM market...

The announcement follows recent administrative actions against three VA lenders that were penalized for cherry picking and refinancing unseasoned loans…

Sen. Elizabeth Warren: "Now Donald Trump wants her to run the CFPB. I will put a hold on her nomination – and fight it at every step – until she turns over all documents..."

It’s the first time since 2010 that the insurance firm has not forecast a positive outlook...

Reverse production increased 18.5 percent when measured against 1Q17.

Cowen: “We see the nomination of Kathy Kraninger as a way to keep OMB Director Mick Mulvaney in charge of the Consumer Financial Protection Bureau for years to come..."

Rep. Jeb Hensarling: "I’m confident that, under Kathy’s leadership, gone are the days of wasting more than $240 million of taxpayer money to renovate a building it doesn’t even own and paying staff to perform research that has nothing to do with the Bureau’s mission..."

Now that Housing and Urban Development Secretary Ben Carson has sworn in a new FHA commissioner, reverse mortgage lenders are hoping to see some changes in the Home Equity Conversion Mortgage program. The National Reverse Mortgage Lenders Association is planning to ask FHA Commissioner Brian Montgomery for changes in the HECM program, particularly at the back end, to make it more profitable for lenders. Peter Bell, the group’s chief executive officer, believes there are opportunities to reduce the cost of the HECM program to the FHA fund by having better servicing procedures. “We would like to see certain loss mitigation procedures in the new HECM rules to be made available to all reverse-mortgage loans,” he said. Some of those procedures apply only to loans originated on or after the new rules became effective, such as “cash for keys.” Cash for keys is a cash offer by a lender to a ...

All home loans with a VA guarantee, including Interest Rate Reduction Refinance Loans, require a lender’s certification, according to the Department of Veterans Affairs. In recent guidance, the agency clarified that the lender certification requirement applies to all VA-backed loans, and is not contingent upon the type of VA loan. Jeff London, director of the VA Loan Guaranty Service, said there have been inquiries from lenders and the VA regional loan centers regarding the validity of the lender certification on an IRRRL. The lender certification is required on IRRRLs, whether or not underwriting is required, London clarified. Under VA rules, lenders must certify that the VA loans they originate comply fully with the law and meet VA’s underwriting standards. The IRRRL is a streamlined program that requires very little verification yet allows veterans to refinance at a lower rate based on their ...