The U.S. Mortgage Insurers trade group is seeking to eliminate differences in standards for qualified mortgages. USMI detailed its policy priorities for 2017 late last week. While the priorities largely rehash previous points of emphasis that could increase business for private mortgage insurance companies, USMI said it has particular concerns about how some QM standards vary on mortgages delivered to the government-sponsored enterprises compared with FHA mortgages. As required by the Dodd-Frank Act, the Consumer Financial Protection Bureau established...
Nationstar said it expects to board $144 billion of additional contracts in 2017, $111 billion of which is subservicing for New Residential Investment Corp.
Consequently, top-tier banks that offered FHA-insured mortgages have opted to either restrict their government business or exit the program altogether…
Market watchers must be wondering just how long investors will continue to believe in the GSE “bet” made by hedge fund manager Pershing Square Capital Management.
David Stevens, MBA president and chief executive officer, said the FHA’s newer books of business have great credit quality, which makes the spike in 30-day delinquencies more surprising.
Writing for the majority, the Appeals Court notes: “We hold that the stockholders’ statutory claims are barred by the Recovery Act’s strict limitation on judicial review …"
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