According to new FHA rules, no less than 20 percent of a lender’s required net worth must be in the form of liquid assets consisting of cash or an equivalent.

Not only is HUD looking into PHH's underwriting practices, but the government has questions about the lender's foreclosure expenses.

Even as industry chatter increases about an effort to extend the eligibility date of the Home Affordable Refinance Program, analysts speculate that more HARP may be too much of a good thing for the mortgage market. Analysts at Bank of America Merrill Lynch and Keefe, Bruyette & Woods cite evidence of a “creeping goal line” to move back by 12 months the June 1, 2009, cut-off date for HARP eligibility. KBW cites a Saturday morning address by President Obama earlier this month on the subject of refinance. “While he did not specifically mention extending HARP, we think an announcement could be coming over the next few weeks to extend the eligibility back one year,” said KBW. More telling, said BAML, is...

Ginnie Mae issuers may buy out mortgage loans that are due but unpaid for four consecutive installments even if the borrower has made partial payments.

Thomas Popik, research director for Campbell Surveys, said first-time buyer demand appears to be leveling off due to changes at the FHA.

FHA jumbo lenders produced an estimated $5.44 billion in loans over $417,000 during the first three months of the year.

Thanks to coming changes in FHA’s mortgage insurance premium cancellation policy, investors in the secondary market met avoid these loans.

MBS issuers, under a new proposal, will have greater leeway in buying delinquent mortgages out of Ginnie Mae pools.

One of the largest USDA mortgage lenders in the U.S. is giving the boot to third-party loan brokers.

Since the housing bust, the Federal Reserve has purchased roughly $1.1 trillion of MBS backed by Fannie Mae, Freddie Mac and Ginnie Mae.