PHH Mortgage may avoid taking a big hit in a legal dispute with a homeowner after the company mishandled his mortgage modification. Last week, in Linza v. PHH Mortgage Corp. et al., Yuba County (CA) Superior Court Judge Stephen Berrier threw out most of the jury’s original $16.2 million verdict against the company, including all punitive damages. Instead, the judge said that homeowner Phillip Linza is entitled to only $159,000 in damages. The case stems...

Securitization of rural development home loans during the first nine months was $14.19 billion, with the top three issuers accounting for 58 percent.

Whatever might be in the works at the FHFA regarding looser credit won’t be out until mid-December, we’re told…

The CFPB initially allowed a simple refund of the excess amount under certain conditions...

With Continental Home Loan under its umbrella, Freedom believes its production run-rate will be $2 billion a month.

Production of rural housing loans with a Department of Agriculture guaranty is expected to end 2014 far below the record volume originated last year, according to agency estimates. USDA Section 502 guaranteed homeownership obligations in fiscal 2014 totaled $19.1 billion, down from last year’s $22.4 billion, according to data recently disclosed by the agency. Texas led...[Includes one data chart]

Is the investment banking arm of JPMorgan Chase sniffing around the non-QM space? It sounds crazy, we know...

With certain exceptions, credit unions invest almost exclusively in agency product, avoiding jumbo securities.

HUD believes the program’s initial objectives have been attained and that prudence and vigilance are again called for to prevent abuses.

Fannie Mae, Freddie Mac and Ginnie Mae have been around for decades and they dominate the residential MBS market, but the agencies are not standing still. Pushed by their federal conservator, Fannie and Freddie are rebuilding their securitization infrastructure and trying to reinvent how they do business with mortgage sellers. At the annual convention of the Mortgage Bankers Association this week, the Federal Housing Finance Agency announced an agreement in principle on changes to the representations-and-warranties framework used by the government-sponsored enterprises. Ginnie officials disclosed new issuer eligibility standards and performance evaluations. “GSE reform does not mean...