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Loan Limits Revised in Corker-Warner GSE Reform Bill

June 26, 2013
Brandon Ivey
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.
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FBR: Thanks to Rate Volatility Jumbo Securitization Market ‘All but Closed’

June 26, 2013
Paul Muolo
The recent rate spike is causing concerns in the jumbo market, particularly for issuers.
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Lenders Seek Changes to Reps and Warrants

June 26, 2013
Brandon Ivey
“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.
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Short Takes: Origination Profits Tumble 21 Percent / Former Senate Staffer on Corker-Warner: Are They Sniffing Glue? / Lender Pulls Out of New Jersey Because of Fraud? / White House GSE Petition Running out of Time

June 26, 2013
Paul Muolo and Charles Wisniowski
Are huge origination profits a thing of the past? Meanwhile, time is running out on the White House GSE petition.
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Newly Originated GSE Loans Not Likely to be Hit with Buyback Claims? Think Again

June 25, 2013
John Bancroft
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.
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Corker-Warner Bill Introduced in the Senate, Wants MBS Guarantors to Have 10 Percent Capital

June 25, 2013
Paul Muolo
Want to issue MBS in the mortgage market of the future? Better bring your wallet.
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Short Takes: ICBA Welcomes GSE Bill But… / Look Who Owns Part of Bexil American Mortgage / Lehman Tops Buyback Dispute List / Eminent Domain, Going Nowhere Fast

June 25, 2013
Paul Muolo
Piper Jaffray owns 8.72 percent of Bexil Corp., the parent of Bexil American Mortgage. Meanwhile, ICBA likes the Corker-Warner bill, but...
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Rep. Capuano Introduces Bill to Have GSEs ‘Pay Back’ Treasury

June 24, 2013
Paul Muolo
The Congressman argues that if the two are not allowed pay down their draws from Treasury “then any future funds sent" to the U.S. should be reinvested in the housing market.
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First Guaranty Rolling Out Warehouse Program for Brokers

June 24, 2013
Paul Muolo
Mortgage brokers may soon get a new source of warehouse credit: First Guaranty Mortgage Corp.
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Short Takes: TBW MSRs Finally Sold, Quietly / REO Values Continue to Improve / No Place to Hide in This Market? / Provident Says Rate Spike is 'Ugly' / FNF Adjusts Terms of LPS Deal / HLSS Reveals Details on Borrowing Costs

June 24, 2013
Paul Muolo
Provident Funding has one word for last week's rate spike: "Ugly." Meanwhile, the TBW MSR portfolio finally gets sold...
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