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FHA Warns That Its Commitment Authority Will Run Out if Shutdown is Not Brief

September 30, 2013
Paul Muolo
FHA will continue to insure mortgages if the government closes but cautions that its commitment authority eventually will run dry. Potential homeowners "will be impacted," it warns.
Read More

Short Takes: GSE Loan Limit Announcement Coming… / Kyle Bass Likes PennyMac / Will PennyMac Issue an NPL MBS? / Investors Gobble Up Nationstar Paper / MBA Chief Economist Stepping Down

September 30, 2013
Paul Muolo
The much anticipated announcement on lower GSE loan limits could be pushed back to mid-October.
Read More

HUD Issues Proposed Qualified Mortgage Rule

September 30, 2013
George Brooks
Except for Title I property improvement loans, HUD proposes to adopt the statutory points and fees structure for all FHA-insured single-family mortgages as implemented under the FPB's QM/Ability-to-Repay final rule.
Read More

Federal Reserve Closes in on Commercial Banks as Top MBS Investor in the World

September 27, 2013
John Bancroft
The Federal Reserve continues to be an MBS hog, so much so that it may soon surpass commercial banks as being the top holder of these securities.
Read More

Thanks to the CFPB, Lenders May Face Greater HMDA Scrutiny

September 27, 2013
Thomas Ressler
“Our tool puts valuable information into the hands of the public in an accessible way," said CFPB Director Richard Cordray. But will consumers use this information against mortgage lenders?
Read More

GSE Buybacks Slow But Recent Books May Get More Scrutiny

September 27, 2013
John Bancroft
Although "legacy" GSE buyback requests are declining, Freddie Mac is paying close attention to more recent production.
Read More

FHFA Issues Deficiency Collection Guidance as It Takes Heat from OIG

September 27, 2013
George Brooks
Fannie Mae and Freddie Mac may take action to recover deficiencies from a defaulting mortgage borrower if permitted by federal or state law.
Read More

What We’re Hearing: FHA Admits It Will Need Bailout / Mortgage Rates May Go Sky High / Beware Small Business Owners Located Near National Parks / Why Can’t Anyone Else Raise Money for Subprime? / Flagstar Working on Another MSR Deal

September 27, 2013
Paul Muolo
If the U.S. defaults on its debt payments, will mortgage rates go sky high? Meanwhile, will JPM rescure FHA?
Read More

FHA Asks For First Bailout in Agency History, But Hints It May Never Use the Money

September 27, 2013
Paul Muolo
FHA admits it will need a bailout, well sort of.
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Steady Decline in Mortgage Debt Bolsters MSR Values

September 26, 2013
John Bancroft
If you're looking for another factor in the red hot MSR market, consider this: housing receivables keep shrinking.
Read More
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