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FHA Updates EAD System, Other Appraisal-Related Components

November 30, 2018
The FHA has announced plans to improve the web-based system lenders use to submit appraisal reports to the agency.
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Around the Industry

November 30, 2018
Congress approves flood insurance extension, FHFA announces 2019 conforming loan limits, and the VA offers password-reset guidance for servicers.
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Agency Share of Jumbo Mortgage Lending Increased in 3Q18

November 28, 2018
John Bancroft
Year-to-date agency securitization of conforming-jumbos totaled $72.36 billion as of the end of September…
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HUD Lists Top Challenges for 2019, Staffing Levels a Concern

November 28, 2018
George Brooks
At HUD, staffing levels have dropped almost 50 percent since 1991. From 2008 to 2017, HUD lost 18.5 percent of its full-time permanent staff, the highest staffing loss among any cabinet-level agency…
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Bank Holdings of MBS Drifted Lower in 3Q18

November 26, 2018
John Bancroft
A huge chunk of the fall-off in Fannie/Freddie MBS holdings occurred at Wells Fargo, which reduced its investment in these securities by $7.31 billion.
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Short Takes: Steven Mnuchin Packing His Bags? / Probably Not / The Key to Administrative Reform of the GSEs: The Next FHFA Director / According to the AEI / A Promotion at Ocwen Financial

November 26, 2018
Paul Muolo
Cowen believes Mnuchin will survive the turbulence but notes the situation still poses a risk to Fannie Mae, Freddie Mac and the big banks…
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Retail Channel Produces Best FICO Scores in 3Q18

November 21, 2018
Retail-originated loans securitized by Fannie Mae, Freddie Mac and Ginnie Mae during the third quarter generally had stronger credit scores than similar loans produced by third-party lenders, according to a new Inside Mortgage Trends analysis of loan-level data. The average credit score for a retail purchase loan pooled in an agency mortgage-backed security during the period was 735.47, compared with 720.20 for correspondent purchase ... [Includes two data charts]
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Meetings Scheduled for January as Nonbanks Ponder Impact of Ginnie ‘Liquidity Letter’

November 19, 2018
Paul Muolo
Nonbanks need to come up with a contingency plan if warehouse lines of credit and other forms of financing are not renewed or are reduced.
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FHA Seeks to Strengthen MRB Authority

November 19, 2018
George Brooks
While the goal of a stronger MRB is not new, it has taken on a new urgency in discussions between HUD and DOJ...
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MIAC Hits the Market with a $7B MSR Package

November 19, 2018
Paul Muolo
Loans in the pool have an average age of 24 months.
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