Fannie Mae and Freddie Mac may take action to recover deficiencies from a defaulting mortgage borrower if permitted by federal or state law.

If the U.S. defaults on its debt payments, will mortgage rates go sky high? Meanwhile, will JPM rescure FHA?

Servicers largely approve of an accounting change for foreclosures proposed by the Financial Accounting Standards Board. However, industry participants differ on particular disclosures that would accompany the proposed change. In July, FASB proposed clarifying when a foreclosure occurs, for accounting purposes. The accounting board said reporting practices for troubled-debt restructurings and residential foreclosures are currently varied due to the lack of an accounting definition for ...

If you're looking for another factor in the red hot MSR market, consider this: housing receivables keep shrinking.

Not only is Citigroup selling $61 billion in legacy MSRs, but the megabank is trying to clear out its legacy buyback exposure.

It’s no secret that Nationstar has been an active bidder on MSRs the past two years, taking down some huge packages of product, including receivables from Bank of America.

Fannie Mae and Freddie Mac will determine new risk ratios for the mortgage insurance industry, not the Federal Housing Finance Agency.

FHA needs money, right? Some of that cash may come to the government insurer in a roundabout way from JPMorgan Chase.

Rising prices for mortgage servicing rights in the second quarter of 2013 helped lure sellers to a market that continues to see a decline in available product and improving fundamentals. The Federal Reserve this week reported that the long, steady decline in home mortgage debt outstanding – a streak that has now run six and a half years – continued through the midway point in 2013. As of the end of June, home mortgage debt outstanding was down to $9.833 trillion, a 0.4 percent drop from March and a hefty 12.9 percent decline from the all-time high ($11.287 trillion) set back in March 2008. A new Inside Mortgage Finance analysis reveals...[Includes two data charts]

Here's an odd turn of events: Freddie Mac might bail out Uncle Sam. Meanwhile, the mortgage insurance industry continues to mend.