Congress and the FHA should avoid undertaking policy changes that would further weaken the agency’s ability to cover insurance losses and potentially lead to another taxpayer bailout, according to a recent analysis by The Heritage Foundation. THF analyst John Ligon and Norbert Michel, a research fellow, said FHA policy reforms should ensure that the agency maintains a limited role in the housing finance system. FHA should make way for private capital to enter the market and serve the housing needs of American households, they added. FHA can accomplish such policy goals by lowering its loan limits and adequately pricing insurance for borrower risk, the analysts said. In addition, Congress should ensure that FHA borrowers are required to maintain mortgage insurance over the full life of the loan as required currently by the Department of Housing and Urban Development, said ...

Industry observers contend Ocwen, another money-losing company, would love to find a merger partner, but must first resolve its regulatory problems…

Qualified borrowers need not worry about repaying the closing-cost amount, Flagstar said...

When the Dow Jones corrects, rates will plunge. Right?

Excluding PennyMac, the eight remaining nonbanks had a combined $41.21 million net loss on mortgage banking activity…

However, a tool currently used by FHA appears to be an obvious solution to the churning problem…

So, where’s Mick?

As press time, details were sketchy, but lobbyists who claim to have knowledge of the draft caution there are several “different pieces” to the measure...

Industry consultant Paul Hindman: “There seems to be a growing number of participants in this year’s game of musical chairs."

Codel joined the megabank in 1993. He’s a graduate of Harvard University with a degree in engineering science…