VA Clarifies HUD-1 Itemization Requirements. The Department of Veterans Affairs’ Home Loan Guaranty office has issued guidance clarifying HUD-1 documentation and itemization requirements. The HUD-1 is a statement lenders furnish to borrowers at closing showing the actual settlement costs, including amounts paid to and by the settlement agent. The guidance clarifies and establishes VA policy regarding the following: itemization of lender/seller credits in the 200 series of the HUD-1; itemization of line 801 on the HUD-1; clarification that credits reflected on line 803 of the HUD-1 cannot offset allowable fees’ and itemization of line 802 on the HUD-1. Ginnie Mae Announces Update to Securitization of USDA Section 538 Multifamily Loans. Ginnie Mae has enhanced the securitization of rural, multifamily housing loans with a Department of Agriculture guaranty to make affordable housing available to ...

Freddie Mac securitized just $12 million of purchase mortgages with loan-to-value ratios of 96 percent or 97 percent during the first quarter.

The number of branch licenses for mortgage originators increased by 12 percent to 43,381.

Few in the industry believe Quicken will actually bolt the FHA program, noting that similar saber-rattling was done by JPMorgan Chairman and CEO Jamie Dimon last year...

But not to worry: the FHFA said the projections were mandated under the Dodd-Frank Act, cautioning that its estimate is just that, and not an expected outcome….

Quicken Loans said it will be evaluating whether it should continue participating in the FHA single-family mortgage insurance program after the federal government formally accused the lender of improperly originating and underwriting mortgages that cost the FHA losses in paid claims. The Detroit-based mortgage lender two weeks ago took the unprecedented step of filing a lawsuit against the government for alleged harassment in what it deemed a long-running fishing trip to drum up charges against the company. Last week, the empire struck back. The Department of Justice filed...

Republican leaders in the Senate and the House plan to press ahead with legislation to provide regulatory relief for mortgage lenders, especially for small community banks. It’s likely that provisions to automatically designate mortgages held in portfolio as qualified mortgages will be included in a legislative package the Senate Banking, Housing and Urban Affairs Committee will mark up sometime in the middle of May. And Republicans might use...

Among other issues, the SIGTARP cited Green Tree's recent $63 million servicing settlement with the CFPB and Federal Trade Commission.

It’s likely that provisions to automatically designate residential loans held in portfolio as qualified mortgages will be included in a legislative package...

Nationstar will take title to $6.7 billion of Fannie Mae, Freddie Mac and private investor product owned by EverBank...