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By Not Allowing for MI Cancellation, FHA Loans Could be Deemed ‘Higher Priced’

June 5, 2013
George Brooks
The FHA said it is working to define a “qualified mortgage” standard that meets the QM criteria under the Dodd-Frank Act, which takes higher priced mortgages into account.
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White House Petition to ‘Restore Fairness’ to GSE Shareholders Not Looking Good

June 5, 2013
Charles Wisniowski
As of Wednesday morning, a GSE shareholder petition accessible through the White House website had 874 of the 100,000 signatures required by July 1.
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Redwood Taps 67 Small Lenders for Latest Non-Agency Jumbo MBS

June 5, 2013
Brandon Ivey
The top contributors to the new Redwood Trust jumbo deal include George Mason Mortgage, Cole Taylor Mortgage, W.J. Bradley Mortgage Capital and PrimeLending.
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MountainView Offering Just Over $2 Billion in MSRs

June 5, 2013
Paul Muolo
The MSR sales machine is cranking up at MountainView.
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Short Takes: Rep. Issa Wants Answers on FHA MMI Audit / Mortgage Applications Tumble Again / Subprime MBS to Hit the Market / First Guaranty Mortgage Continues its Expansion / LPS Upgrades Network

June 5, 2013
George Brooks and Paul Muolo
Is a scandal brewing at FHA concerning how it handled the independent audit of the Mutual Mortgage Insurance fund or is it "politics"?
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Federal Reserve Examining CFPB’s Use of Enforcement Attorneys in Audits

June 4, 2013
Thomas Ressler
The Inspector General of the Federal Reserve has initiated an evaluation of the CFPB’s integration of enforcement attorneys into its examinations of banks and nonbanks.
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Conix Coming to Market with MBS Backed by Nonperforming Mortgages

June 4, 2013
Paul Muolo
Conix Inc. is in the market with an MBS backed by nonperforming mortgages. Could other deals be far behind?
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Cole Taylor Buys $600 Million of MSRs From Liberty, Will Build Platform

June 4, 2013
Brandon Ivey and Paul Muolo
Cole Taylor Mortgage is getting serious about the servicing business. It purchased a portfolio from Liberty Savings and plans to start its own in-house platform.
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Corker-Warner GSE Bill Seeks to Establish ‘Credit Risk-Sharing’ for Mortgages

June 4, 2013
Paul Muolo
There is at least one curiosity in the GSE draft bill: any individual who ever served as a director of the Federal Housing Finance Agency is prohibited from serving as a board member on the new Federal Mortgage Insurance Corp.
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Short Takes: Will Ellington Go on a Purchase Tear Under Abreu? / Jumbos Remain Hot / Stonegate Unveils New Jumbo Loan / Bank ABS Holdings Fall Slightly / Broker Employment Shows Signs of Life

June 4, 2013
John Bancroft and Paul Muolo
Ellington Management under new mortgage chief Steve Abreu may go on a purchase tear, rolling up companies.
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