An Iowa-based investor in government-sponsored enterprise common stock this week asked a federal court in the Hawkeye State to give “no weight” to a ruling earlier this month by a Washington, DC, federal judge who dismissed litigation against the government by other GSE shareholders, including Perry Capital and Fairholme Funds. Continental Western Insurance Co. filed papers in U.S. District Court for the Southern District of Iowa Central Division arguing that Judge Royce Lamberth was “simply wrong” in his interpretation of the Housing and Economic Recovery Act of 2008 and his HERA-based rationale to shut down shareholders’ suits in DC. An investor in GSE stock, Continental’s counsel in the case is...

However, there was some good news. Flagstar reported residential originations of $7.19 billion, a 21 percent gain from 2Q.

An investor in GSE stock, Continental’s counsel in the case is Cooper & Kirk, the same law firm that represents Fairholme, a large hedge fund that bought up GSE stock last year.

One former CEO candidate told IMFnews that back when he was approached about the job, the starting salary for the position was at least $400,000.

Ocwen said it has fixed the "back-dating" problem but it may be too late for the company.

One mortgage executive added: “Watt is trying to do the right thing, but I’m not sure he will get there. It’s good to see the government admit that the pendulum went too far.”

Non-agency MBS sponsors will be allowed to retain the risk portion on vertical or horizontal tranches of the security or a combination of the two.

Under the CFPB’s new rule, financial institutions will be able to post privacy notices online instead of distributing an annual paper copy.

FIRREA – ushered in during the nation’s savings and loan crisis – has four notable elements which make it an attractive path to prosecution...

HUD's Castro noted that the VA program limits its loan guarantee to a maximum of 25 percent, leaving many lenders exposed and reluctant to offer VA-guaranteed loans.