Industry advisors familiar with MIC told Inside Mortgage Finance that the nonbank VA refi specialist was almost sold to a bank this past summer, but the deal fell through.

FHA and VA are urging mortgagees and lenders to extend all possible assistance to borrowers who have been furloughed, laid off or suffered a decline in income because of the government shutdown.

The secondary market for mortgage servicing rights is red hot and shows no signs of slowing, even with the government partially closed.

Even due diligence firms such as Allonhill LLC of Denver have trimmed staff because their bank clients no longer need to conduct as many forensic reviews on legacy loan files. Allonhill was recently sold to Stewart Title, which hopes to grow the firm’s presence in the jumbo and nonconforming sectors.

Mortgage banking officials tracking the issue believe that if the agency is going to lower Fannie Mae/Freddie Mac loan limits for 2014 it will need to codify those changes by mid- to late October to give lenders time to update their technology systems.

Laurie Goodman, director of the Urban Institute’s housing finance policy center, predicted that the delay in issuance of jumbo MBS will be short.

There is no mention in the SunTrust filing how much HUD/FHA might receive. A spokesman for the bank declined to provide a number to Inside Mortgage Finance.

The most important take away from this week’s loan limit reduction news: Congress warning DeMarco that he’d better defer to them on loan limits. His reply: radio silence. Meanwhile, Wells tosses Freddie overboard, sort of.

An analysis of modified mortgage loans shows Ocwen Financial’s modifications were the best in the field as the servicer focused not only on volume but on quality as well. Performed by Moody’s Investors Service, the report attributed Ocwen’s excellent results to its ability to take that extra step to prevent the loan from going to foreclosure and help distressed homeowners keep their homes. Moody’s focused on mortgages that were seriously delinquent at the height of the mortgage crisis ...

Nearly three-fourths of mortgages in Bank of America’s foreclosure review pipeline are on hold due to various regulatory and process delays, according to a new analysis by Moody’s Investors Service. The delays have caused foreclosures at the bank to last sometimes up to a year longer, on average, than foreclosure timelines for Freddie Mac. As of the end of August, Moody’s said BofA had 115,000 loans scheduled for foreclosure review. “Over 72 percent of the population was non-workable inventory because of ...