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With New HUD Letter, It Looks Like Curtains for Eminent Domain

August 14, 2013
George Brooks
Any private label mortgage seized through the use of eminent domain will not be eligible for FHA coverage, HUD hints in a new letter.
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Fannie, Freddie Capital Markets Staff Turnover Mitigated For Now

August 14, 2013
Charles Wisniowski
The IG's evaluation survey found that the total cumulative voluntary attrition rate at Fannie’s capital markets group “increased somewhat” from January 2010 through 2012.
Read More

PennyMac Raising $248 Million in Equity, Will Buy Nonperforming Loans

August 14, 2013
Paul Muolo
The market did not react kindly to PennyMac's announcement about selling more shares of common stock.
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Short Takes: Going, Going, Gone: GSE Buybacks? / CapWest Enters the Wholesale Arena / Redwood About to Reward Its Executives? / The Terrible Twos for the CFPB / Fannie Mae Hired Someone It Was Suing

August 14, 2013
Paul Muolo and Thomas Ressler
It would appear that the GSE buyback scourge may be winding down. Meanwhile, Fannie Mae has egg on its face over someone it hired.
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FHFA Hires Spencer Stuart for Common Securitization Platform CEO Search

August 13, 2013
Paul Muolo
FHFA has handed over a list of CEO candidates to Spencer Stuart, which bills itself as an international recruiting firm with 54 offices in 29 countries.
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Rep. Hensarling Defends PATH Act, Says 30-Year FRM Will Survive

August 13, 2013
Charles Wisniowski
The PATH Act awaits a vote on the House floor. But Hensarling’s measure is widely viewed as a non-starter in comparison to the Senate’s bipartisan Corker-Warner bill.
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Short Takes: CashCall Sued by NY AG but Not Over Mortgages / Sen. Jack Reed Shows Some Love for the GSEs / QRM Coming Soon? / ASF Tells Servicers to Reject Eminent Domain Offers / Trailer Park Loans Get an Appraisal Break

August 13, 2013
Paul Muolo and George Brooks
CashCall may be in trouble with New York State. So, where's Senator Reed's GSE bill?
Read More

HUD May Scotch Richmond's Eminent Domain Dreams

August 13, 2013
George Brooks
According to a new letter obtained by Inside Mortgage Finance, HUD says it is uncertain whether any new loan created under the controversial eminent domain plan would qualify for FHA insurance.
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HUD Tightens Underwriting Guidance on Borrower Judgments

August 12, 2013
George Brooks
The guidance, effective October 15, applies to manually underwritten FHA loans and requires lenders to document reasons for approving a mortgage when the borrower has collection accounts or judgments.
Read More

Short Takes: At Least Harry Reid Likes the GSEs / Uncle Sam Takes In More Revenue, Thanks to Fannie and Freddie / Greenlight Earned How Much Last Year? / HSBC Official Joins Mortgage Master / Calling All Warehouse Lenders

August 12, 2013
Paul Muolo
Senate Majority Leader Harry Reid appears to have come out in support of Fannie Mae and Freddie Mac. But will other elected officials follow suit?
Read More
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