Stevens credited the Federal Housing Finance Agency with making “significant progress” in fixing the flaws of Fannie and Freddie...

At this pace, you can expect that by yearend New Rez will be the nation’s second largest servicer, at least in terms of ownership rights…

On the news, Ocwen’s share price was up a stunning 37 percent on the day to $3.15.

The Republicans made a big splash earlier this week promoting the Hensarling bill, motivating the Democrats to employ a parliamentary ploy that has not been used in the committee in 20 years.

S&P Global Ratings proposed changes this week to its criteria for rating non-agency MBS. The changes would provide higher ratings to certain tranches of non-agency MBS backed by new prime mortgages while prompting lower ratings for new issuance backed by seasoned mortgages. The rating service is considering a number of adjustments to foreclosure assumptions, loss severity projections and changes relating to the evaluation of qualitative factors. “The proposed revisions to our methodologies and assumptions are...

Ocwen Financial’s travails continued to worsen this week after rating agencies announced adverse ratings actions amid the servicer’s mounting regulatory and legal problems. On April 24, Moody’s Investors Service placed Ocwen’s servicer assessment on review for a possible downgrade. On April 25, Fitch Ratings revised its previous rosy affirmation of the company’s primary servicer rating and stable outlook to negative. Both firms said the ratings actions were due to the increased regulatory scrutiny on Ocwen’s servicing operations, which could lead to hefty penalties that could pose a threat to the company’s financial stability. On April 20, a consortium of state mortgage regulators filed...

Of the five states with the largest share of non-current mortgages, Mississippi ranked first with 9.70 percent…

A fair question: If there’s no federal guaranty on conventional MBS will the housing and mortgage markets tank?

Sources told IMFnews that the CFPB was seeking a settlement in the range of $50 million from the servicer...

Mortgage default rates for FHA and VA loans followed seasonal trends and shifted significantly lower in the first quarter of 2017, according to a new analysis and servicer ranking by Inside FHA/VA Lending. While both portfolios showed strong growth in the dollar volume of loans outstanding in Ginnie Mae mortgage-backed securities, there were also huge declines in the number of loans past due. Some $1.036 trillion of FHA forward mortgages were in Ginnie pools at the end of March, up 1.1 percent from the previous quarter. But delinquency rates for the less-severe categories of late payment were down sharply. The number of FHA loans 30-60 days past due, for example, declined by 28.4 percent, lowering the delinquency rate by 1.51 percentage points, leaving it just about where it was a year ago. The same thing happened in the VA sector. Total VA supply grew 3.2 percent to ... [Charts]