Maxine Waters is working on a GSE reform bill that likely will garner strong industry support, unlike Rep. Hensarling's PATH Act.

At an investor conference in New York this week, officials from Wells Fargo predicted that residential originations at the bank will fall 30 percent this quarter on a sequential basis.

With the deal, $5.3 billion in mortgage servicer advance ABS will have been issued this year, according to the rating service.

Nonbanks are stepping up to the plate on agency MBS. Meanwhile, a handful of large "term" loans are being put together, allowing investors to finance MSRs.

It appears the House of Representatives is giving up on GSE reform this year. However, the Senate could move forward, even though passage is considered a long shot, at best.

A compare ratio north of 150 percent will land a lender on HUD’s watch list. A ratio greater than 200 percent could result in disciplinary action and potential loss of FHA approval.

The Department of Housing and Urban Development has issued guidance establishing general procedures for mortgages and foreclosures on tribal lands. The Model Tribal Mortgage Lending Code is designed to meet the needs of mortgage loan guaranty, insurance and direct loan programs of the FHA, the Home Loan Guaranty program of the Department of Veterans Affairs, and the Rural Housing Program of the Department of Agriculture. Each of the federal agencies offers various mortgage-loan programs for Native Americans who wish to live on tribal trust lands or within a tribal area. The Housing and Community Development Act of 1992 created ...

The Department of Housing and Urban Development is phasing out the Saver and Standard loan products under the Home Equity Conversion Mortgage program in favor of a new reverse mortgage that limits the amount of money a borrower can draw at closing to 60 percent of the value of the home. The fixed and adjustable HECM Standard and Saver options will still be available until Sept. 29, said HUD. The revised principal limit, pricing and disbursement policies for the new HECM product will become effective on Sept. 30. The revised HECM guidance also ...

Fewer borrowers are using FHA financing, which has enabled private mortgage insurers to take back more market share from the FHA, according to Inside FHA Lending’s analysis of industry data. Borrowers are shying away from FHA due to higher mortgage insurance premiums (MIPs) that took effect early this year and to the new policy eliminating MI cancellation. Private MIs accounted for 36.6 percent of primary mortgage insurance written in the second quarter, their highest level since 2008. This was up from 32.7 percent in the first quarter and from 30.5 percent a year ago. Private MIs also provided coverage on ...

Fannie Mae is starting to market a risk-sharing transaction to investors. A Fannie spokesman said the government-sponsored enterprise is working with the Federal Housing Finance Agency to meet the goals set by the conservator of the GSEs. Mark Lefanowicz will be the CEO of Fenway Summer’s mortgage venture, according to an announcement this week by Raj Date, the founder of the firm. Fenway Summer plans to originate non-qualified mortgages and Lefanowicz has previously worked at ... [Includes five briefs]