The Department of Housing and Urban Development has outlined steps FHA lenders must take following the successful deployment of a new system for requesting changes and notifications as well as completing their annual recertification.The changes became effective on May 27, 2014, as the new system, Lender Electronic Assessment Portal (LEAP), went live. All of FHA’s approximately 2,500 approved lenders will now use LEAP for their annual recertification and business updates and changes. Senior HUD officials, who requested anonymity, said the transition from the Lender Assessment Subsystem (LASS) and the Institution Master File (IMF) to LEAP is almost complete, except for a few kinks HUD staff is working out. “The change in the IMF is noteworthy because it was the repository for information about all FHA lenders and it had been operating on outdated technology for a long time,” said one agency executive. “All essential information about all FHA lenders is now consolidated in a ...

HUD Nominee Picks Up Support from Grassroot Activists, Home Builders. San Antonio Mayor Julian Castro, President Obama’s pick to replace Secretary Shaun Donovan at the Department of Housing and Urban Development, has won support from the National Community Reinvestment Coalition and the Center for Responsible Lending and the National Association of Home Builders. “Mayor Castro’s experience and strong commitment to neighborhood revitalization and community development will be critical to the recovery of communities still reeling from the housing crisis,” said NCRC President and CEO John Taylor. “We welcome his leadership and look forward to working in partnership with him to increase access to affordable housing and create vibrant, healthy communities.” CRL President Mike Calhoun noted Castro’s long record of ...

Notably absent from Watt’s first major policy speech as FHFA director last month was any mention of the housing trust funds.

With interest rates dropping in recent weeks, some mortgage observers say there’s a chance that the refi market could rebound.

And it doesn't appear that Millennials are willing to give you much to save for a mortgage downpayment either.

Industry observers believe that FHFA Director Mel Watt – who has been on the job since early January – wants to open up the “credit box” for low- and moderate-income borrowers.

The good news for the mortgage industry is that the bulk of Dodd-Frank-required mortgage rules have already been issued.

Is Fannie Mae’s stock a screaming buy as Pershing Square hedge fund chief Bill Ackman recently suggested?

Unlike a lot of other housing-market data, the MBS figures are not seasonally adjusted, though they are seasonally affected.

"The ECB has a real problem on its hands," said Barry Habib, who runs MBS Highway, an analytics firm that offers lenders advice on when to lock rates.