The FHA has issued temporary guidance for approving condominium projects for agency financing – a good first step, according to industry groups. Stakeholders have been waiting for a broader rewrite of the condominium rules for years, and they see the interim guidance as limited but positive. Announced on Nov. 13, the guidance is in place for a year while the FHA works on a more comprehensive rule that addresses all condominium lenders’ concerns. The temporary guidelines modify the requirements for condominium project recertification. It can cost up to $3,000 and, in some cases, take more than a year, to complete a condominium recertification project. The certification is good for only two years. Condo projects run afoul of FHA rules when the certification lapses, rendering the ...

In case you’re wondering, Fannie Mae has a market capitalization rate of $12.28 billion, Freddie Mac $6.86 billion. Why?

Moreover, during the quarter, the REIT joined the Federal Home Loan Bank of Atlanta.

Given the president’s intention to defend the Dodd-Frank Act for the remainder of his term, an industry-wide QM safe harbor for portfolio mortgages is “a heavy lift,” said former FHA chief Dave Stevens.

In order to grow its servicing portfolio through acquisitions, Ocwen has to satisfy conditions set in detailed consent orders...

If Citadel can hit the $1 billion mark it would be a significant achievement in the “new,” post-crash nonprime market.

Mortgage executives have much to worry about these days: TRID, declining loan volumes and marketing services agreements, a new survey found.

In January, Birch Run reported a 17.8 percent ownership stake in Walter, but has since increased it to 19.8 percent.

A number of different firms handle servicing on the loans, led by Ocwen Financial with a 54.1 percent share.

Impac’s initial foray into non-QM production was sourced mostly through the wholesale channel.