ICBA: “They [Freddie] can say whatever they want to, but financing MSR crosses the line.”

The FHA has proposed a similar user fee but has been denied repeatedly by Congress…

CFPB chief Mick Mulvaney said the bureau is “no longer allowed” to make any rules about disparate impact under ECOA…

A court ruling in February which determined that risk-retention requirements don’t apply to certain collateralized loan obligations could have opened a way to avoid risk retention in the commercial MBS market, according to an industry lawyer.

Ginnie Mae said it would accept “orphaned” VA loans for delivery into Ginnie MBS as long as the mortgage meets the terms of the law.

Changes made by the Dodd-Frank reform bill, along with other legislative proposals and government actions, would have mixed credit impact on ABS backed by student loans, said Moody’s Investors Service.

The Zeldin bill passed by a vote of 48-0.

The idea to ban nonbanks from the FHLB system (via the captive loophole) increasingly looks like a head-scratcher....

Ginnie Mae assured the mortgage industry that it would accept so-called VA orphan loans as long as they satisfy the terms of corrective legislation passed by the House Financial Services Committee recently. “As long as the mortgage loan complies with the law, we will accept it and put our guarantee on it,” said an agency spokesperson in response to an Inside FHA/VA Lending inquiry. Ginnie’s assurance provides certainty to a subset of VA loans that have been in limbo since June because they could not be delivered into Ginnie mortgage-backed securities. Lawmakers responded to industry calls for a legislative fix last week by voting overwhelmingly to approve H.R. 6737, the “Protect Affordable Mortgages for Veterans Act of 2018.” Introduced by Rep. Lee Zeldin, R-NY, the bill would eliminate the seasoning requirements in the recently enacted Dodd-Frank Act reform legislation, which conflicted with ...

It looks like the Department of Housing and Urban Development will not be able meet its September target date for rolling out its long-awaited FHA condominium reform rule. Such is the consensus among stakeholders whose hopes were raised when HUD Secretary Ben Carson told the House Financial Services Committee in June that he would be issuing the rule this month. “HUD and the Office of Information and Regulatory Affairs (within the Office of Management and Budget) want to release the rules with the updated Single Family Handbook and they are still working on that,” said a real estate industry executive. He added that despite what Carson said at the committee hearing, “September is not likely for a release.” As of press time, the final condo reform rule had not yet been delivered for OMB review, a process that in the past has taken months to complete. In contrast, it took about a ...