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Fairholme Case Update: Judge Orders Government to Review and Hand Over Non-Privileged Documents

March 8, 2017
Carisa Chappell
Since Fairholme filed its “takings” case the government, Uncle Sam has turned over 48,000 documents totaling more than 500,000 pages.
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A Booming Market for USDA Mortgages

March 8, 2017
George Brooks
The Guaranteed Rural Housing Loan initiative is the largest of the USDA’s single-family housing programs.
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Short Takes: What Higher Rates Might Mean / And the Refi King of Mortgage Banking is… / There’s Still a Disturbance in the (Mortgage) Force, Only Less So / Vertical Looking to Buy / Better Mortgage’s First Year

March 8, 2017
Paul Muolo
Fannie and Freddie are still worth less than social media darling Snap, but the gap is narrowing...
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Agencies Nipped More Jumbo Share in 2016

March 8, 2017
John Bancroft
The agency share of total jumbo production reached its highest level in 2009 and 2010, immediately after “emergency” high-cost loan limits were put in place…
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Good News for Jumbo MBS Issuers: Investor Demand Doubles (Roughly)

March 7, 2017
Brandon Ivey
JPMorgan said 50 investors bought into the bank’s latest jumbo MBS. Typically, 20 to 30 buyers line up…
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In the Trump Administration, DOJ Doesn’t Have the CFPB’s Back in the PHH Case; Uncle Sam Leans Toward PHH

March 7, 2017
Thomas Ressler
Attorney Barbara Mishkin notes: “…the amicus brief to be filed by the U.S. can be expected to support PHH’s position that the CFPB’s single-director-removable-only-for-cause structure is unconstitutional.”
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Rating Services Getting (Slightly) More Comfortable with TRID Compliance Issues on Jumbo MBS

March 7, 2017
Brandon Ivey
Four mortgages from First Republic Bank were subject to limited reviews that didn’t include checks for compliance with TRID.
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How Much Longer Can Hedge Funds Hold on to their GSE Stock Wagers?

March 7, 2017
Paul Muolo
Fairholme extolled the GSE’s massive fourth quarter profits of almost $10 billion, and called them “indispensable” to the mortgage insurance industry…
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Short Takes: It Appears Carson Likes the MI Industry / New HUD Chief Carson Asks Employees to Take ‘The Niceness’ Pledge / You Can’t Overload the Human Brain? / Prestwick Selling GSE Servicing Rights / Freddie’s New Whole Loan Deal

March 7, 2017
Brandon Ivey and Paul Muolo
"You can't overload the human brain," said newly minted HUD secretary Ben Carson. And there was more...
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Ginnie Mae Issuance Takes a Tumble in February

March 6, 2017
George Brooks
Just three depositories ranked among the top 15 issuers for February…
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