David Stevens, MBA president and chief executive officer, said the FHA’s newer books of business have great credit quality, which makes the spike in 30-day delinquencies more surprising.
Writing for the majority, the Appeals Court notes: “We hold that the stockholders’ statutory claims are barred by the Recovery Act’s strict limitation on judicial review …"
Originations of non-agency jumbo mortgages declined in two consecutive quarters to end 2016, according to a new ranking and analysis by Inside Nonconforming Markets. And while jumbo production was up last year compared with 2016, market share for the sector declined during that time. In recent years, jumbo originations and market share have been on a strong upward trend, though the momentum stalled in the second half of 2016. An estimated ... [Includes one data chart]
In a conference call with reporters Friday morning, Fannie CEO Tim Mayopoulos noted: “While we expect to remain profitable on an annual basis for the foreseeable future, due to our declining and limited capital reserves and the potential for significant volatility in our financial results, we could experience a net worth deficit in a future quarter.”
“If Cordray were engaged in malfeasance, inefficiency or neglect of duty, don’t you think the Obama administration would have done something about that?” asked one legal scholar.
Rating services appear to be taking differing approaches to rating nonprime MBS backed by new originations. The first nonprime MBS from an affiliate of Invictus Capital Partners received preliminary AAA ratings from Kroll Bond Rating Agency, Morningstar Credit Ratings and S&P Global Ratings. Those three firms did not rate...
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