Reporting on VA Loans Impacted by Natural Disaster. The Department of Veterans Affairs is cautioning servicers against reporting as delinquent VA loans that are impacted by a natural disaster. The electronic default notification (EDN) should only be reported prior to the 61st day of delinquency if the borrower intends to abandon the property or pursue an alternative to foreclosure, according to VA. Cite “property problems” as the reason for default, the agency added. On the 61st day of delinquency, servicers should use “casualty loss” as the reason for default when reporting the EDN. This will help VA identify loan defaults caused by a natural disaster. Texas USDA Guaranteed Housing Program See Increased Volume. The USDA guaranteed single-family guaranteed housing programs in the Lone Star State are experiencing significant volume increases, and consequently, ...

Eric Kaplan of the Milken Institute: “I don’t think the non-agency market is ready to absorb the market that’s taken away from the GSEs without some significant signaling in advance.”

First Pacific is an institutional money management firm...

The Mortgage Bankers Association is pressing the Consumer Financial Protection Bureau to make reform of the loan-originator compensation rule a top priority.

The current policy, issued in 2013, says the bureau will not approve a trial disclosure that weakens consumer understanding of valuable information, even if it improves cost effectiveness.

Freddie CEO Don Layton said the CRT deals are “amazingly efficient…”

Wells Fargo once again led the complaint pack…

Fairholme adds: “This is good news when you count the cash that Fannie and Freddie have earned and will earn.”

Rob Zimmer, director of external affairs for the Community Mortgage Lenders of America, is in the camp of those worrying about the ramifications…

Fun fact: Consumers with their names in the email address were 30 percent less likely to default than other customers.