This so-called agency “patch” was set up to last for seven years, or until 2021...

CSS, a joint venture of Fannie Mae and Freddie Mac, is hiring at its main site in Bethesda, MD, as well as its office in Pasadena, CA.

Of course, just because five industry vets have issued a white paper, that doesn’t mean it can readily yield into legislation.

In a follow-up development to earlier reports of the demise of W.J. Bradley Mortgage as a result of the CFPB’s integrated disclosure rule, affiliated newsletter IMFnews reported last week that at least $20 million worth of jumbo loans originally funded by the lender have hit the TRID “scratch-and-dent” market, citing an investor who plays in the space. The loans were offered by Texas Capital Bank, which several sources have identified as a key warehouse lender to WJB, a now defunct privately held non-depository. Early reports on the company’s voluntary closure suggest that TRID errors on non-agency mortgages played a key role in the firm’s demise. Sources contend that a few months back WJB tried to sell at least $30 million ...

Fannie Launches Marketing Center. Fannie Mae’s new Marketing Center, introduced this week, is a free online tool providing lenders and other housing professionals access to a variety of customizable marketing materials including HomeReady mortgage, HARP, and more. Freddie’s Second ACIS CTR of 2016: Freddie Mac announced its latest ACIS credit risk transaction, which is its second for 2016. This new transaction provides credit loss protection up to a combined maximum limit of approximately $336 million of losses on single-family loans. White House GSE Advisor Steps Down. White House senior policy advisor on housing and GSE issues Michael Stegman is expected to step down from his post sometime this week, according to industry sources.

The MI industry’s future also hinges on Fannie and Freddie, which by statute must have MI coverage on the high loan-to-value ratio mortgages they buy.

Except for 2012, the biggest year in program activity, most of the loans originated under HARP had rates above today’s levels.

This same official also predicted that if TRID errors ever become an issue on Fannie Mae/Freddie Mac loans, the entire mortgage market would come to a halt...

Although the GSEs have not started conducting routine quality control file reviews for technical compliance with the TRID rule, they are checking to make sure the new forms are being used.

Much of the collateral is based in the Western U.S.