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New Report: Kill GSEs, Limit US Support for Mortgages

February 25, 2013
George Brooks and Paul Muolo
A new bipartisan panel wants to close Fannie Mae and Freddie Mac and limit U.S. support for mortgages.
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Short Takes: The Myth Surrounding Redwood’s Delinquencies / Jumbo Loan Prices Red Hot / $30,000 a Year in Flood Premiums? / GSEs Paying Their Subservicers How Much?

February 25, 2013
Brandon Ivey and Paul Muolo
Jumbo loan prices are red hot.
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Wells Is Not Done Tinkering with its Mortgage JVs / Redwood May Target MSRs in a Major Way / Residential Originations Slowing? / Banks No Longer Love MBS? / Ocwen Adjusts to ‘A’ Paper Servicing

February 22, 2013
Paul Muolo
Wells Fargo, the nation's largest home funder, is continuing to review its mortgage joint ventures.
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Further Drops Expected as FHA Jumbos Slip in 4Q

February 22, 2013
A modest decline in FHA endorsements of jumbo loans in the fourth quarter of 2012 could presage further declines this year, following the Department of Housing and Urban Development’s recent proposal to raise the downpayment requirement to 5 percent, from 3.5 percent, for loans above $625,500. The FHA already has raised its jumbo mortgage insurance premiums to 1.55 percent annually and increased the monthly premiums on new, non-jumbo FHA mortgages by 10 basis points. The agency retained the 3.5 percent downpayment for new forward mortgages below $625,500. The increased premiums are ... [2 charts]
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CFPB Projects 26 Percent Staffing Increase This Year

February 21, 2013
Thomas Ressler
The CFPB continues to increase its staff levels by significant numbers with hiring jumping by 26 percent this year.
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Retail Production Share Hits Record in 2012, But Gains May Not Hold

February 21, 2013
John Bancroft and Paul Muolo
Retail mortgage lending, in terms of market share, set a new record last year, but those gains may fade.
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Servicers Progressing on ‘Robo’ Relief, But Complaints Continue

February 21, 2013
Brandon Ivey
The five servicers participating in the $25.0 billion national “robo-signing” settlement are well on their way toward meeting their obligations.
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Will the ‘Sequester Effect’ Hammer the DC Metro Mortgage Market?

February 21, 2013
Paul Muolo
The Washington D.C. mortgage market will be fine, even if the "sequester" happens.
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Short Takes: FHA Sees Delinquencies Increase in 4Q / Jumbo Borrowers Feel Good Thanks to Stock Gains / Freddie May Have Strong Earnings

February 21, 2013
Paul Muolo
FHA late payments are on the rise again.
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Upcoming Report Key to a GSE Reform Comeback?

February 20, 2013
Charles Wisniowski
GSE reform could see the light of day after all - or at least an attempt at it.
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