Ginnie Mae requires that all loans in its MBS pools have federal insurance or a federal guarantee.

The judge in the case suggests that the CFPB director has more unchecked power than anyone in government with the exception of President Obama.

No huge gains for PHH's share price...

CFPB critics may want to hold off on doing any celebrating...

Clayton Holdings is one firm that’s interested in providing deal-agent services to the industry…

Non-agency MBS investors looked to the practices of the government-sponsored enterprises when establishing the standards for a deal agent, according to Alessandro Pagani, a portfolio manager and head of securitized assets at Loomis Sayles. “The GSEs were very effective in enforcing their rights as owners of the collateral; they had access to information and real enforcement power to put back loans that needed to be put back and direct servicers,” he said at the recent ABS East conference produced by Information Management Network. The Deal Agent Committee released...

The post-crisis market environment that fueled the mortgage loan buyback dynamic continues to improve, and with it, the business relationships between lenders, investors and the government-sponsored enterprises. However, the repurchase and indemnification phenomenon has not gone away and is unlikely to do so for the foreseeable future. That means market participants need a comprehensive strategy to limit their exposure to litigation and, when that fails, to restrict the damage that does ensue, according to some top industry attorneys. This may be particularly important for correspondent lenders. “In order to go ahead and get a good perspective for what your company’s potential risk is, how do you go...

A Manhattan district court judge last week dismissed lawsuits brought by the Federal Deposit Insurance Corp. against three large banks, saying the agency no longer has standing to sue after it sold the defective mortgages through a re-securitization transaction. Judge Andrew Carter of the U.S. District Court for the Southern District of New York threw out the government’s suits against Citigroup, Bank of New York Mellon and U.S. Bancorp, which accused the banks of failing as trustees to ensure the quality of $2.7 billion in MBS purchased by the failed Texas-based Guaranty Bank. Reuters was the first to report Carter’s decision. Guaranty went...

Want to make more money? Go work for a nonbank. Want better job security? Work for a depository...

Special treatment for the government-sponsored enterprises regarding debt-to-income ratios on qualified mortgages and “emergency” high-cost loan limits accounted for about 25.0 percent of the single-family business that passed through the GSEs in the first half of 2016, according to an analysis by affiliated publication Inside The GSEs. In the first six months of 2016, Fannie Mae and Freddie Mac securitized $64.52 billion of single-family mortgages with DTI ratios ...