Purchase-money lending increased by a hefty 37 percent, climbing to an estimated $163 billion in the second quarter, according to figures compiled by Inside Mortgage Finance.

Some trade groups, including the California Mortgage Bankers Association and National Association of Realtors are not happy with the idea of lower loan limits.

Federal regulators dealt the private mortgage insurance industry a setback last week when they opted to ignore the presence of private MI coverage in defining “qualified residential mortgages” under a new proposed rule governing securitization. The new rule will require issuers of mortgage securities that are not backed by QRMs to retain a 5 percent share of the risk. As a practical matter, it won’t apply to Fannie Mae and Freddie Mac business as long as the government-sponsored enterprises are in conservatorship, although this exemption would not necessarily be extended to any post-GSE entity that Congress may create. If the agencies stick...

The Federal Housing Finance Agency is expected to announce lower loan limits for Fannie Mae and Freddie Mac sometime this fall, a move that warms the hearts of non-agency jumbo originators everywhere, but is causing consternation among certain factions of the market, in particular, Realtors and the California Mortgage Bankers Association. “Any reduction in the loan limit will have a huge impact on the California market,” said Susan Milazzo, executive director of the CMBA. “We’re a high-cost state.” The trade group executive told...

Look for the Senate leadership from both sides of the aisle to ramp up efforts to craft new legislation on comprehensive mortgage finance reform when Congress returns from its summer recess next week, although industry observers predict lawmakers will make only marginal progress this fall. Last month, at the behest of Senate Banking, Housing and Urban Affairs Committee Chairman Tim Johnson, D-SD, and Ranking Member Mike Crapo, R-ID, senior committee staff met with various industry “stakeholders” – including trade associations, consumers groups and academics – to hear their thoughts on housing finance reform and the fate of Fannie Mae and Freddie Mac, according to meeting participants. The meeting takeaway among the stakeholders who spoke with Inside Mortgage Finance is...

Radian Guaranty has struck a deal with Freddie Mac on a pool of delinquent and reperforming mortgages, capping the private mortgage insurer’s exposure at $840 million and reducing the total number of delinquent loans by 12.6 percent. Announced on Aug. 29, the agreement covers a group of 25,760 first-lien loans insured by Radian and held by the government-sponsored enterprise that were delinquent as of Dec. 31, 2011. The agreement provides for the future treatment of these loans, including claim payments, loss mitigation and termination of insurance coverage. At the same time, Radian’s claim exposure on 9,756 delinquent loans and 4,586 loans that were...

Fannie Mae and Freddie Mac mortgage-backed securities accounted for 74 percent of combined FHLB MBS portfolios in the second quarter, up 2 percent from 1Q13.

The Chicago ordinance, which took effect in November 2011, requires mortgage lenders to register vacant properties with the city and pay a $500 registration fee.

As reported by IMFnews late last week, Stewart Title is buying Allonhill, a due diligence firm based in Denver. Meanwhile, look for billions of dollars in NPL sales soon.

Radian has already paid $632 million to cover loss claims on the Freddie Mac loans through two different payments. It also had set aside $205 million in a collateral account to cover loss mitigation activity.