Before joining the bureau in 2012, Alexis was a complex litigation and white collar partner at the Mayer Brown law firm in Washington, DC…

The seller of the MSR package focuses on the California market...

Morningstar said the company’s underwriting process, quality control and compliance functions were factors in the rankings…

A large nonbank is about to enter the second-lien market...

Home equity lending fell even more at BofA: down 12.7 percent from the prior period...

Gain-on-sale profits came to 124 basis points, flat from the prior period, and the weakest reading of the past five quarters...

Rep. Heck said he will ask the GAO to study and recommend options for improving the reverse-mortgage program, including shifting HECMs out of the MMIF...

Meanwhile, one detail about the capital buffer falling to zero remains unclear: On Jan. 1 will every single penny of the $600 million (at each) be carted away?

Ginnie Mae issuers rode a wave of purchase-mortgage lending to deliver $120.46 billion of forward mortgages during the third quarter of 2017, the highest three-month volume for the year, according to a new analysis and ranking by Inside FHA/VA Lending. Third-quarter volume was up 9.6 percent from the April-June cycle. The data excluded FHA reverse mortgages and loan amounts are truncated in Ginnie’s mortgage-backed securities disclosures. Without those limitations, total Ginnie MBS issuance rose 9.5 percent to $123.37 billion in the third quarter. Purchase mortgages were the engine behind the growth. Ginnie issuers securitized $85.35 billion of purchase loans in the third quarter, falling just short of the record $85.41 billion set in the third quarter of last year. Although most Ginnie purchase loans (58.7 percent) were FHA loans, the biggest increase was in such loans guaranteed by the ... [Charts]

Department of Housing and Urban Development Secretary Ben Carson indicated he is open to the idea of moving the Home Equity Conversion Mortgage program out of the FHA Mutual Mortgage Insurance Fund to stem future losses. Testifying before the House Financial Services Committee this week, Carson said the changes the department has made recently, as well as those currently under consideration, will eliminate most of the program’s problems although residual issues may still linger. Carson acknowledged that the HECM program’s default rate has been a drain on the MMI Fund even though it is much smaller than the FHA’s forward loan portfolio. The recently revised HECM rules issued on Sept. 19 have “stopped the bleeding” in terms of new reverse mortgages, he added. However, separating the HECM portfolio from the FHA insurance fund and making it a stand-alone program is ...