Fannie Mae and Freddie Mac will not earn a ton of money forever. Or will they?

Certain provisions of the loan originator compensation rule – such as those having to do with record retention, anti-steering and compliance and procedures – kick in January of 2014.

Terry Edwards has received high marks for his accomplishments at Fannie Mae. But can he get the CSP off the ground?

Mortgages banking firms are still in demand, but pricing may fall. And at Wells Fargo, it's jumbo rates remain cheaper than GSE rates.

Banks, investors and their allies opposed to the City of Richmond, CA, using eminent domain to seize underwater mortgages, refinance and repackage them for sale to other investors were scheduled to have their first hearing in court at week’s end. Current investors, through trustees Wells Fargo and Deutsche Bank AG, have sued in U.S. District Court to block the plan. Parties in Wells Fargo Bank, National Association, as Trustee, et al., plaintiffs, vs. City of Richmond, California, a municipality; and Mortgage Resolution Partners LLC, defendants, Case No. CV-13-3663-CRB, were to appear Sept. 12 and Sept. 13, before Judge Charles Breyer of the U.S. District Court for the Northern District of California in San Francisco. The Securities Industry and Financial Markets Association and the U.S. Chamber of Commerce jointly submitted...

Wall Street believes that housing/GSE reform legislation should provide for the creation of a single agency MBS.

There are signs that residential lenders are willing to accept slightly more credit risk, said one mortgage vendor.

Wells Fargo, JPMorgan Chase and Flagstar are all working on large servicing deals, but as sellers. Meanwhile, HUD is worried about lower GSE loan limits.

Vacant foreclosed properties with mortgages backed by Fannie Mae and Freddie Mac are not subject to the City of Chicago’s registration ordinance, according to a recent ruling from the U.S. District Court for the Northern District of Illinois. The ordinance, which took effect in November 2011, requires mortgage lenders to register vacant properties with the city and pay a $500 registration fee. The ordinance also directs lenders to secure and maintain vacant buildings in accordance with city requirements.

Large parts of the Bay Area and Southern California qualify for the top high-cost limit, while other California markets such as San Diego ($546,250) and Sacramento ($474,950) have intermediate high-cost limits.