SunTrust to mortgage brokers: Drop Dead! Meanwhile, the inside scoop on the somber mood at the annual MBA show.

FY 2013 Actuarial Report to Congress on the State of the MMIF Delayed. Release of the FY 2013 actuarial audit of the FHA Mutual Mortgage Insurance Fund will be delayed because of the recent government shutdown, according to a government source. No other details were provided. The FHA recently notified Congress that it would seek a mandatory appropriation of approximately $1.7 billion to bolster its capital reserves for expected future losses. FHA officials said the draw does not suggest anything dire but is simply a matter of ...

During a Q&A session at the convention, MBS co-inventor Lew Ranieri said there is no “viable” alternative to Fannie Mae and Freddie Mac, noting that if the two disappear banks will not rush to put 30-year fixed rate loans on their books.

Bill Erbey, the company's founder and chairman, downplayed concerns that Ocwen is growing too quickly.

SunTrust is about to leave the wholesale/broker channel. Who's next?

Early Thursday, EverBank disclosed that it is selling $13.4 billion of Ginnie Mae servicing rights, while transferring $6.9 billion in subservicing to Walter Investment Management Corp.

In a sign that Senate leaders are continuing their work on comprehensive housing finance reform, representatives of the mortgage lending industry were given an opportunity this week to opine on the exact features such a package should have, and they took full advantage of it. Gary Thomas, president of the National Association of Realtors, speaking before the Senate Banking, Housing and Urban Affairs Committee, offered a baker’s dozen of specific proposals for elements of a future finance system, including an “efficient and adequately regulated secondary market,” which he said is essential to providing affordable mortgages to consumers. Also, the government-sponsored enterprise system “with private profits and taxpayer loss” must be replaced...

The audit of the FHA's MMI fund should be ready by Christmas, not Thanksgiving.

“Our concern is whether companies have the resources internally to ensure that such arrangements are working as they should,” said one Ginnie Mae official. “Is the issuer adequately protecting itself and Ginnie Mae?”

According to a copy of an early prospectus provided to IMF, lenders originating loans for the security include Nationstar Mortgage, Stearns Lending, Freedom Mortgage, Fifth Third Mortgage, Real Estate Mortgage Network and RMR Financial.