The Federal Housing Finance Agency announced last week that it’s mulling over the idea of allowing principal reductions for underwater homeowners and it expects to make a decision, one way or the other, within the next couple of weeks But some say if implemented, the overall impact will be fairly muted. Back in 2012, the agency decided that limited principal reduction could save Fannie Mae and Freddie Mac money, but the plan didn’t have the support of former Acting Director Ed DeMarco, who said it could encourage voluntary loan defaults. Since that time, FHFA Director Mel Watt revealed in a recent speech last week that he’s been...

Fact: The Mortgage Metrics report for the third quarter of 2015 was 66 pages while the most recent issue was slashed to just 14 pages.

The AMI chief warned that at some point the GSEs may decide to review TRID documentation and penalize lenders who made even small clerical errors in the disclosures.

According to survey figures from Inside Mortgage Finance, WJB funded $410 million in 4Q15. Typically, it sold jumbos on a correspondent basis to secondary market investors, including JPM.

Can (and will) Congress act to fix the TRID mess?

Except for 2012, the biggest year in program activity, most of the loans originated under HARP had rates above today’s levels.

The HECM loss mitigation option is available if there is no indication that the borrower vacated the property or if he or she is attempting to make payments on the amounts due.

The SFIG draft includes details on potential cures for TRID violations.

This same official also predicted that if TRID errors ever become an issue on Fannie Mae/Freddie Mac loans, the entire mortgage market would come to a halt...

Although the GSEs have not started conducting routine quality control file reviews for technical compliance with the TRID rule, they are checking to make sure the new forms are being used.