Plans by officials of the city of Richmond, CA, to make a controversial use of eminent domain to seize underwater mortgages, rework their terms and stiff MBS investors for the resulting losses suffered two major blows in recent days as two federal regulatory agencies that play a critical role in the nation’s mortgage finance system intensified their opposition. This week, the Department of Housing and Urban Development, in response to a joint inquiry by three California Republicans on the House Financial Services Committee, said it cannot guarantee that any mortgage seized through eminent domain would be approved for an FHA-insured refinance – a central pillar in the eminent domain proposal developed by Mortgage Resolution Partners. “Pending legal developments and possible further execution of the plans in question, HUD does not know...

Fitch has determined that loans originated through a direct retail channel have a lower default risk than those originated through brokers or correspondents.

At June 30, Fannie Mae and Freddie Mac had a combined $5.78 billion in outstanding repurchase demands, a 17 percent decline from the first quarter.

FBR notes that a key provision in the draft QRM rule is that any mortgage securitized by Fannie or Freddie is automatically a QRM.

If you're looking for a g-fee bargain, Freddie Mac is offering deals. Well, sort of.

If you thought that Bank of America was done selling mortgage servicing rights, think again.

It would appear that the GSE buyback scourge may be winding down. Meanwhile, Fannie Mae has egg on its face over someone it hired.

The market did not react kindly to PennyMac's announcement about selling more shares of common stock.

Any private label mortgage seized through the use of eminent domain will not be eligible for FHA coverage, HUD hints in a new letter.

The IG's evaluation survey found that the total cumulative voluntary attrition rate at Fannie’s capital markets group “increased somewhat” from January 2010 through 2012.