The Department of Housing and Urban Development is seeking additional authority from Congress to transfer FHA mortgage servicing in order to facilitate loss mitigation. The change would allow the FHA to require specific actions when a servicer is underperforming or has a low score on HUD’s Tiered Ranking System, including the transfer of servicing to an FHA-designated special servicer or requiring a servicer to enter into a sub-servicing agreement. With expanded powers, the FHA also may require a servicer to engage a third-party to assist in loss mitigation services. Such authority would enable the FHA to better avoid losses due to poor servicing and, thus, protect the MMI Fund, HUD said. Testifying before a Senate appropriations subcommittee, FHA Commissioner Carol Galante noted...

The secondary market for residential servicing rights remains robust.

JPM is losing certain staffers to Freedom Mortgage. Meanwhile, is Art Ringwald contemplating a return to mortgage banking?

Some non-agency participants have called for an immediate return to conforming loan limits of $417,000, which were in place in 2008 before Congress established “emergency” loan limits for high-cost areas.

The recent rate spike is causing concerns in the jumbo market, particularly for issuers.

“Confusion and uncertainty around representations and warranties standards continue to cause lenders to add their own overlays to the existing GSE credit standards,” said MBA vice chairman Bill Cosgrove.

Are huge origination profits a thing of the past? Meanwhile, time is running out on the White House GSE petition.

Freddie filed repurchase requests on some $361.6 million of 2012 originations during the first quarter of this year, according to figures compiled by Inside Mortgage Trends.

Want to issue MBS in the mortgage market of the future? Better bring your wallet.

Piper Jaffray owns 8.72 percent of Bexil Corp., the parent of Bexil American Mortgage. Meanwhile, ICBA likes the Corker-Warner bill, but...