The trend toward private MI is likely to continue in anticipation of the FHA Solvency Act of 2013, which is awaiting action on the Senate floor.

A housing lobbyist added that, “Right now it’s a matter of timing. Will in come in October or a little later than that?”

In May, Sen. Bill Nelson, D-FL, flagged the disturbing consumer credit reporting practice of lumping a short sale within the same industry code as a foreclosure in consumer credit reports.

FHA is seeing its cash reserves increase more than expected. Meanwhile, yet another mortgage vendor is laying off workers.

The former Encore Mortgage executive said he will concentrate on lower FICO score lending, in particular what he calls the “B&C” market.

Today, Fannie Mae/Freddie Mac g-fees average 50 to 55 basis points compared to 24 bp back in 2009.

EverBank also will evaluate each eligible borrower still in the process of foreclosure for a new loan modification.

Bureau to Evaluate Effect of Bundled Financial Products on Economically Vulnerable Consumers. Earlier this month, the CFPB published a notice and request for comment indicating it plans a data collection and review of bundled financial products and services in order to understand their effects on the financial decision-making of economically vulnerable consumers in the United States, especially as it relates to asset building and financial capability. Comments are invited on whether the collection of information is necessary for...

The CFPB may need to reach out more to consumers in areas that face the highest risk of foreclosure, and intensify pressure on lenders that serve older Americans, according to a new analysis of the CFPB’s consumer complaint database by a handful of faculty members at the Yale University School of Law. Analyzing a new data set of 110,000 consumer complaints lodged with the bureau, they found that Bank of America, Citibank and PNC Bank were “significantly less timely in responding to consumer complaints than the average financial...

Tammy Butler, the director of fair lending and compliance for Optimal Blue, a leading pricing engine, said she’s been hearing from one attorney and industry consultant after another that the time of mortgage lenders naming their fees just to re‐name profit is not going to go over well with the CFPB. “In fact, those who have been through the exams or been fined have learned the hard way that complete transparency to the consumer is a must,” Butler said.For instance, Butler has heard some lenders plan on lumping a...