As usual, the Federal Housing Finance Agency provided as little detail as possible in its new disclosures on the common securitization platform.

The Supreme Court's decision sends the defendant banks back to federal district court where they will be able to appeal at a later date should an adverse ruling directly affect them.

What if the U.S. government actually defaults on its debt – what would that do to the value of MBS and Treasuries held on the balance sheet of banks? You may not want to know the answer.

Laurel Davis, a vice president at Fannie Mae, said the GSE learned from Freddie’s transaction and the pending risk-sharing deal from Fannie is set to receive an investment grade rating from Fitch Ratings.

In light of the court decision in the overtime pay case, the government must either appeal to the U.S. Supreme Court or start a formal rulemaking process to withdraw the 2006 opinion.

Industry advisors and lobbyists hope they can move the implementation date for lower GSE loan limits deep into the second quarter, but they also realize they cannot forestall it completely.

Some lenders have vowed to close loans without IRS verifications, filling the void by asking for additional and in-depth documentation – but only on retail-sources mortgages.

An assistant at CashCall tries to clear the air on the lender's sale. Meanwhile, the USDA mortgage program is dead, for now.

As the partial shutdown of the U.S. government enters its second week on Oct. 7, the CFPB remains fully staffed, funded and operational, so any financial services providers that assumed they might get a bit of a regulatory, compliance or enforcement reprieve would be well advised to press on full-steam ahead. All of the key federal financial regulators – the bureau, the Federal Reserve, the Federal Housing Finance Agency, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency – remain open as usual...

The CFPB recently revised its final servicing and mortgage origination regulations, and while its changes were welcome, a significant number of issues remain unresolved, an industry group told the bureau late last week. Further, without additional clarification and definition, the group said the mortgage industry will probably impose additional safeguards that will cause even more credit tightening beyond the already tight standards limiting many prospective borrowers. “The final regulations still do not provide...