The U.S. Attorney’s Office for the District of Connecticut, on behalf of the RMBS Working Group, is seeking an order to compel Clayton to cooperate with a subpoena issued in early July.

FHA will continue to insure mortgages if the government closes but cautions that its commitment authority eventually will run dry. Potential homeowners "will be impacted," it warns.

The much anticipated announcement on lower GSE loan limits could be pushed back to mid-October.

The government accused the San Diego-based Plaza Home of charging black and Hispanic borrowers higher fees than white borrowers on mortgages sourced through the wholesale channel.

Critics of program contend that the strings attached by Fannie Mae require too much oversight of REO investors, driving away potential top bidders.

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

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

Although "legacy" GSE buyback requests are declining, Freddie Mac is paying close attention to more recent production.

Top officials in the Federal Reserve System were making the rounds of the financial and economic intelligentsia this week, shedding some light on the central bank’s decision to prolong its support of the financial and housing markets through its admittedly “unconventional means” of massive asset purchases, accommodative monetary policy and explicit forward guidance. “Several questions have emerged following the meeting” of the Federal Open Market Committee, said FOMC member William Dudley, president and chief executive officer of the Federal Reserve Bank of New York, during a speech this week in New York City. “Most noteworthy was – given that market expectations were skewed towards anticipating the beginning of a taper at this meeting – why the committee did not begin to reduce the pace of asset purchases.” Although he was not presuming to speak for the committee, Dudley did provide...