This executive, like many interviewed, called it an example of charter creep. Freddie and the FHFA think otherwise…

As a result, the nonbank share of new production edged up to 53.9 percent, its highest level since the second quarter of 2017.

Rob Zimmer of CMLA: “The organization [Brookings] is now pushing a deeply flawed report that uses veterans and active-duty personnel as pawns…”

During a House hearing, Rep. Ann Wagner, R-MO, criticized the FHFA for spending $7.7 million on what she called a “crucial training program which lacks professionalism, among other things…”

Investors Unite: “Lamberth’s ruling does not mean reimbursement checks are on the way…”

Banks valued these servicing rights at $46.4 billion, $5.6 billion more than in March…

The IG said there’s no specific methodology for fraud detection and reporting…

The regular fraud reports created by the GSEs are not being put to good use by the Federal Housing Finance Agency, said the FHFA Office of Inspector General. In fact, FHFA’s examiners don’t even review the reports when supervising Fannie Mae and Freddie Mac activities. In an evaluation report published earlier this week, the IG said the FHFA does not make a documented, systematic use of the content of monthly and quarterly fraud reports that could be helpful for examiners. There’s no specific methodology for fraud detection and reporting, only requiring the GSEs to maintain adequate and efficient internal controls, policies, procedures and an operational training...

California remained the top state for Fannie Mae and Freddie Mac activity in the first six months of 2018 as volume reached $68.22 billion, according to a new Inside The GSEs analysis. About 44.4 percent was from the purchase market and 20.8 percent were first-time homebuyers. Texas trailed in second place with $27.57 billion in volume with 69.0 percent of that being attributed to the purchase market. Texas was followed closely by Florida with $25.01 billion. Rounding out the top five for GSE volume were Washington ($16.08 billion) and Colorado ($14.99 billion).

The Federal Housing Finance Agency’s examination program has not made any progress in seven years, according to new report by the FHFA’s Office of Inspector General, which said the number of commissioned examiners has actually decreased. The FHFA is currently conducting an internal review of the program. The IG has been asking the FHFA to beef up its examinations program since 2011. As a result, in 2013 the agency developed its own Housing Finance Examiner Commission Program that offered classroom courses, on-the-job training and final examinations. But the program hasn’t been successful, according to data obtained from the IG.