However, if Fannie Mae determines through established delivery or quality-control review processes that any loan has ineligible term or amortization provisions, it will be subject to repurchase.

The Mortgage Bankers Association and other industry trade groups fear that the shutdown will have a growing impact on the housing market, including FHA endorsements.

Moody's, in a new report, notes that Bank of America outsources roughly 25 percent of its “early stage” collection efforts to vendors.

All five mortgage servicers participating in the settlement will be subject to tougher testing, said Joseph Smith, the settlement’s monitor.

As the government shutdown continues and many federal workers go without pay checks, there’s a growing concern that these potential borrowers will see their credit scores get dinged.

According to interviews with investors in Freddie Mac’s $500 million Structured Agency Credit Risk bond, 50 different companies bought into the deal.

Critics contend that jumbo MBS investors don’t have access to mortgage documents.

The Federal Reserve is pointing its finger at both loan officers and applicants for the misreporting of borrower income.

FHA claims it is still endorsing loans but only 2 percent of its staffers are on duty. Also, the USDA mortgage program lies dormant.

Some in the mortgage broker community have suggested that operating as a mini-correspondent could help brokers bypass points-and-fees complications with the qualified mortgage definition under the ATR rule.