The USMI said in statement that cutting FHA premiums right now is “neither necessary nor prudent at this time...."

The good news for the industry here is that the CFPB is, once again, responding to the concerns of market participants…

At a GSE reform hearing, Sen. Mike Crapo, R-ID, chairman of the Senate Banking Committee, called small lenders “fixtures in their communities...”

However, the legal settlement likely will ding sector quarter earnings by $34 millon to $36 million…

A lot of the ABS oomph came from the $2.08 billion whole-business securitization by Domino’s Pizza...

A housing crisis in America? Maybe the Russians can help...

The House Appropriations Committee this week approved a FY 2018 spending bill for the Department of Housing and Urban Development with a $135 million allocation for information technology upgrades in lieu of a proposed lender fee. The set-aside also covers quality control and risk management improvements as well as other administrative costs. The recommended funding is $5 million more than the FY 2017 enacted level for administrative contract expenses and $25 million below the budget request. Approved by a vote of 31 to 20, the bill provides HUD with $38.3 billion in discretionary spending for FY 2018, down $487 million from the current level. The House bill authorizes $400 billion for loan guarantees under the FHA Mutual Mortgage Insurance Fund, including the Home Equity Conversion Mortgage program, and $500 billion for Ginnie Mae. Ginnie will also receive $25.4 million for agency staffing, which is ...

One reason the VA market grows somewhat faster than the FHA is that it loses fewer loans to default.

In a somewhat uncommon move, Progress increased a planned issuance after presale reports on the deal were already published.

The lender/servicer suffered another blow this spring when it revealed that some of its previously issued financial statements could not be relied upon because of what it called an “accounting error.”