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Lower GSE Loan Limits Would Boost Jumbos; A Big Impact for California

September 12, 2013
John Bancroft
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.
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CFPB’s Cordray Softening on Rule Implementation?

September 12, 2013
Thomas Ressler
CFPB director Richard Cordray could be softening somewhat in response to the mortgage industry’s plea for regulatory enforcement relief when the new rules take effect in January.
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OCC Raises Concern on Bank Oversight of Appraisal Management Companies

September 12, 2013
Paul Muolo
Banking regulators are showing new concerns about appraisal management companies, especially those owned by depositories.
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Short Takes: A 50 Percent DTI on a Jumbo? / Five Years Ago Uncle Sam Placed the GSEs Under Marshall Law / Life After Lehman Brothers / Some Ugly Application Numbers / Penny Mac Still Hungry for NPLs

September 11, 2013
Paul Muolo
It's been five long years since Uncle Sam seized Fannie Mae and Freddie Mac. Is time to give them back to shareholders?
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Richmond, CA, Hasn’t Yet Given Up on Eminent Domain

September 11, 2013
Thomas Ressler
The city council’s favorable vote represents a rare notch in the win column for MRP, which has suffered numerous defeats in local jurisdictions across the nation, likely at a substantial loss to the firm’s financial backers.
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Maxine Waters to Counter Hensarling’s PATH Act With Her Own GSE Bill

September 11, 2013
Charles Wisniowski
Maxine Waters is working on a GSE reform bill that likely will garner strong industry support, unlike Rep. Hensarling's PATH Act.
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Short Takes: Loan Officers Spared From Layoffs, For Now / Sierra Pacific Mortgage Gets Aggressive in Retail / Loan Brokers Suffer Again? / CoreLogic Says Fewer Homes Underwater / Flood Insurance Premiums Could Clobber Vacation Home Market

September 10, 2013
Paul Muolo
Mortgage loan officers have been spared from lay-offs. But how long will it last? Brokers get dismissed again?
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HUD IG Says Agency Challenged on Oversight

September 10, 2013
Thomas Ressler
Over the years, HUD has seen a steady decline in its staffing level – perhaps to its lowest level ever, in fact – while at the same time being called upon to administer an increasing number of programs.
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FHLB Chicago Enters the Ginnie Mae Issuance Business

September 10, 2013
Charles Wisniowski
The program is intended to provide smaller mortgage lenders that lack direct access to the secondary mortgage market with another option for their home buying customers.
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Stonegate to Create Non-Agency Jumbo MBS Shelf this Year

September 10, 2013
Brandon Ivey
Not only is Stonegate Mortgage going public, but it plans to issue jumbo MBS as well.
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Latest Imf News

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