A spokesman for Ocwen – which is also the nation’s eighth largest Ginnie Mae servicer – declined to comment on anything having to do with buyouts.

Because of the irregular nature of legal settlements and contractor backlogs, the FHA did not properly recognize its receivables, the IG said.

Many of those winning bidders are hedge funds with Wall Street backing, including Lone Star Funds and Bayview Asset Management.

The $227 million portfolio is top heavy with California product which accounts for roughly 62 percent of the receivables.

Industry advisor Joe Garrett said in a client note he knows of a lender that had its pre-approval letter scrutinized by the CFPB.

The U.S. Supreme Court plans to hear oral argument on Jan. 21, 2015, in the disparate-impact case, Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. The fundamental legal issue in the case is whether disparate-impact claims are cognizable under the Fair Housing Act. As far as the facts of the case go, the dispute involves a statutory challenge to the allocation of low-income housing tax credits. The TDHCA distributes the tax credits associated with the Low-Income Housing Tax Credit Program throughout Texas. The ICP is a 501(c)(3) nonprofit that works to place low-income, mostly African-American Section 8 tenants in Dallas’s more affluent and largely white suburban neighborhoods. The ICP brought suit against TDHCA back in ...

The provision, expected to raise $30 million for FHA quality assurance efforts, would allow the Department of Housing and Urban Development to charge a fee of no more than 4 basis points.

All three agencies saw double-digit declines in new production, but Fannie Mae experienced the the biggest decline.

New issuance of Fannie Mae, Freddie Mac and Ginnie Mae single-family MBS fell 13.7 percent from October to November, according to a new Inside MBS & ABS analysis of loan-level data. The three agencies produced $80.23 billion of single-family MBS last month, the lowest amount since June. November also marked the first monthly decline in new production after seven consecutive monthly gains that started in April. All three agencies saw...[Includes two data charts]

The FHA’s accounting of receivables from settled legal claims and partial claim notes is so sloppy that the exact amount collected might be difficult to gauge, according to an internal audit of the agency’s FY 2014 and 2013 financial statements. Conducted by the Department of Housing and Urban Development’s Inspector General, the audit concluded that the FHA had booked receivables from seven cash settlements totaling $1.2 billion in FY 2014 but collected only $466.4 million of those settlements. In addition, during fiscal 2014, as part of its loss mitigation efforts to bring delinquent loans current, the FHA paid $4.4 billion to lenders for partial claims but never received the required promissory notes from the lenders for $1.5 billion of the claim payments. FHA rules require lenders to provide the agency with promissory notes for the payments made or ...