A spokesman for Impac said the purchase price will be disclosed “when the final docs are filed.”

Lowering premiums now would only put the FHA MMIF further behind, the House Financial Services Committee chairman argued.

Mortgage lenders are delirious about lower FHA premiums, right? Well, not everyone.

HUD Secretary Castro said the MMIF is on a “positive trajectory,” though he admits the premium reduction could delay its recovery...

The share price of certain mortgage stocks took it on the chin in 2014, caught in all the negative publicity surrounding Ocwen Financial and nonbank mortgage companies. According to an analysis by Inside Mortgage Finance of a select group of nonbank lender/servicers, Ocwen’s stock suffered the largest decline in 2014 as measured by current price to its 52-week high. Based on prices this week, Ocwen’s common is trading at a 76 percent discount to its high for the past 12 months. Ranking second in this ignoble category is...[Includes one data chart]

Mortgage underwriting standards have loosened in recent years, led by the jumbo market and reduced overlays on agency mortgages, according to the Mortgage Bankers Association. However, underwriting standards aren’t nearly as lenient as they were in the early 2000s, prompting some to call for further loosening. The MBA’s Mortgage Credit Availability Index has trended up since the beginning of 2012. “Most of the action in terms of loosening has been on the jumbo side,” said Michael Fratantoni, MBA chief economist, at a talk hosted this week by the Urban Institute’s Housing Finance Policy Center. Separately, he noted...

SunTrust Banks started off the new year reliving the pain of the last six years since the financial crisis by revealing it plans to take yet another financial hit – this time, a $145 million legal expense in its fourth quarter results tied to legacy mortgage issues. In a Form 8-K filing with the Securities and Exchange Commission early this week, David Wisniewski, deputy general counsel, said the bank was taking the charge “to increase legal reserves and complete the final resolution of one matter. Accordingly, based on current information, the company expects its estimate of reasonably possible losses related to legal matters, in excess of reserves, to decrease by approximately this amount.” Wisniewski did not specify...

Mortgage lenders and real estate agents called for further clarifications of an inter-agency proposed regulation that would mandate escrowing of all premiums and fees for flood insurance for most residential mortgages and mobile homes, with some exceptions, after Jan. 1, 2016. While supportive of the regulation, industry groups urged the Office of the Comptroller of the Currency, Federal Deposit Insurance Corp., Federal Reserve Board, National Credit Union Administration and the Farm Credit Administration to proceed cautiously and ensure flood insurance remains affordable and available to consumers. The proposed rule covers...

Molly Boesel, a senior economist at CoreLogic, said mortgages originated in the past four years are among the most pristine loans made in the past two decades.

“Auctions would determine the market prices of those guarantees and allocate them to the lenders who most valued them,” the CBO said.