Efforts to redefine the FHA’s mission under the pretense of eliminating taxpayer risk would be counterproductive to the goal of housing finance reform, warned FHA Commissioner Carol Galante. In recent remarks to a housing reform forum in Washington, DC, Galante said that while housing reform is necessary, restricting the FHA’s ability to perform its dual mission in response to perceived risk is not the way to go. This type of over-correction would damage access to affordable credit, she cautioned. Apparently referring to pending House Republican reform proposals for the government-sponsored enterprises and the FHA, Galante said...

According to figures compiled by Inside Mortgage Finance, the GSEs took in $16 billion from buybacks during the first six months of 2013. At the same time, lenders succeeded in getting $7 billion in repurchase requests withdrawn.

“The president believes that Rep. Watt is the very best person to lead the agency at this important time for the housing market and our economy, and that having a confirmed FHFA director in place will help promote certainty for the housing industry,” said a White House spokesman.

Once again, the MSR market is heating up. Sources say a REIT may purchase receivables being offered by Flagstar Bancop.

Mortgage credit is not easing. Meanwhile: Why did the heads of the CFPB and FHFA cut and run at the MBA show?

Legislative reform of Fannie Mae, Freddie Mac and the FHA will take years, according to panelists at the Mortgage Bankers Association's annual convention.

In the wake of the JPM settlement, more megabanks may seek out of court settlements with the Federal Housing Finance Agency.

Investors shying away from new jumbo MBS have expressed strong interest in the risk-sharing transactions offered by Fannie Mae and Freddie Mac. Demand for the transactions has been so high recently that some analysts are recommending that investors could see better returns from vintage non-agency MBS. Fannie Mae said about 75 investors initially bought into the $675 million in non-guaranteed bonds it offered, and Freddie Mac said about 50 investors initially bought into the $500 million in non-guaranteed bonds it offered. “The deal has been very well received...

Expect an “across the board” reduction in Fannie Mae’s and Freddie Mac’s conforming loan limits sometime next spring, said Edward DeMarco, acting director of the Federal Housing Finance Agency, during a speech late this week. DeMarco telegraphed his loan limit decision for 2014 – which he will announce in late November – during remarks at a daylong conference sponsored by Zillow and the Bipartisan Policy Center. While the new limits will be announced in late November, the traditional timing of the announcement, the agency will give sellers six months to implement them. “Any reduction would be...

The securitization of income-property mortgages in 2013 remains on track to be the best year since the financial market meltdown, but new issuance dropped sharply during the third quarter. A total of $33.16 billion of commercial MBS – including agency MBS backed by multifamily mortgages – were issued during the third quarter of 2013, a new Inside MBS & ABS analysis reveals. That was down 24.5 percent from the second quarter, but it brought year-to-date issuance to $123.89 billion, just shy of the total securitized in all of 2012. Commercial mortgage securitization through the first nine months of 2013 was...[Includes one data chart]