The U.S. Attorneys Office for the District of Connecticut, on behalf of the RMBS Working Group, is seeking an order to compel Clayton to cooperate with a subpoena issued in early July.
Except for Title I property improvement loans, HUD proposes to adopt the statutory points and fees structure for all FHA-insured single-family mortgages as implemented under the FPB's QM/Ability-to-Repay final rule.
FHA will continue to insure mortgages if the government closes but cautions that its commitment authority eventually will run dry. Potential homeowners "will be impacted," it warns.
Borrowers or loan officers misreporting income on loan applications at the height of the housing boom may have pushed up the default rate of high-income borrowers, according to a new Federal Reserve analysis of Home Mortgage Disclosure Data that was matched with non-HMDA credit data. Researchers Neil Bhutta and Glenn Canner of the Feds Division of Research and Statistics found that many borrowers classified as high-income may actually have had lower incomes than what they stated on applications, and ...