Tozer believes that with depositories in control of the Ginnie market, the regulation of lender/servicers has essentially been outsourced to banking regulators who have “vast experience” in safety and soundness.

Why short Altisource? This source reasons that as real estate values continue to improve and foreclosures slow, Altisource will have less to do going forward...

Although "legacy" MSR sales are in the tank, newer servicing rights continue to hit the market.

The biggest chunk of purchase business for the GSEs were loans ranging from $200,000 to $300,000, which accounted for 29.4 percent of their business.

Current and former commissioners of the FHA this week said the venerable program could carry out its mission more effectively if it was an independent, self-funded government enterprise. During this week’s Housing Summit hosted by the Bipartisan Policy Center, the five FHA commissioners – incumbent Carol Galante and alumni Brian Montgomery, Nicolas Retsinas, David Stevens and John Weicher – concurred that working with Congress, particularly on budget issues, has made it more difficult for the agency to operate safely and soundly. “We’re...

An Illinois district court’s decision that federal preemption issues are not ripe may now prompt a federal district court in Washington, DC, to examine the broader issue of whether disparate impact is a valid claim under the Fair Housing Act. The Illinois lawsuit, Property Casualty Insurers Association of America v. U.S. Department of Housing and Urban Development, is one of two insurance-industry legal challenges to HUD’s disparate-impact rule. The second case was filed by two other trade groups, the American Insurance Association and the National Association of Mutual Insurance Companies, and is pending in federal court in the nation’s capital. According to the final rule that HUD adopted in February 2013, a practice has...

According to the final rule that HUD adopted in February 2013, a practice has a discriminatory effect on a protected class if HUD or a private plaintiff can establish liability under the statute, even if there is no intent to discriminate.

The loan is available in California, Florida, Hawaii and New Jersey, and is slated to be expanded to other states.

David Stevens, who led the FHA for part of the financial crisis, recalled difficult times dealing with policymakers and appropriators.

Investors are paying up for distressed mortgages these days, fueling talk that the market might see more in the way of securitizations. “Buyers of non-performing loans want to securitize,” said Brian Dunn, senior vice president of MountainView Capital Group. “They like the [real estate mortgage investment conduit] structure.” According to Dunn, the securitization of nonperforming mortgages “has taken off...