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Lower GSE Loan Limits Would Boost Jumbos; A Big Impact for California

September 12, 2013
John Bancroft
Large parts of the Bay Area and Southern California qualify for the top high-cost limit, while other California markets such as San Diego ($546,250) and Sacramento ($474,950) have intermediate high-cost limits.
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CFPB’s Cordray Softening on Rule Implementation?

September 12, 2013
Thomas Ressler
CFPB director Richard Cordray could be softening somewhat in response to the mortgage industry’s plea for regulatory enforcement relief when the new rules take effect in January.
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OCC Raises Concern on Bank Oversight of Appraisal Management Companies

September 12, 2013
Paul Muolo
Banking regulators are showing new concerns about appraisal management companies, especially those owned by depositories.
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Five Oaks Working Toward Issuing First Jumbo MBS

September 12, 2013
Brandon Ivey
Five Oaks Investment, a publicly traded REIT, plans to acquire mortgages from jumbo lenders on a flow and bulk basis.
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Trade Groups Dismiss PATH Act in New Letter; Big Lenders Absent

September 12, 2013
Paul Muolo
The letter to members of Congress is notable for which trade groups didn't sign on, including the American Bankers Association and Mortgage Bankers Association.
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Short Takes: The OCC is Watching the Jumbo and HELOC Markets Closely / New Penn Allows 50 Percent DTI on Jumbos / Consumers Love the CFPB? / Cordray Tries to Allay QM Anxiety / Maybe Rising Rates Are Good

September 12, 2013
Paul Muolo and Thomas Ressler
Loan standards are not loosening on conventional mortgages, but in the jumbo space the story is entirely different.
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FHA Gives Up More Business to Private Mortgage Insurers

September 11, 2013
George Brooks
Will private mortgage insurance firms continue to steal market share from the FHA? It certainly looks that way.
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Maxine Waters to Counter Hensarling’s PATH Act With Her Own GSE Bill

September 11, 2013
Charles Wisniowski
Maxine Waters is working on a GSE reform bill that likely will garner strong industry support, unlike Rep. Hensarling's PATH Act.
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Richmond, CA, Hasn’t Yet Given Up on Eminent Domain

September 11, 2013
Thomas Ressler
The city council’s favorable vote represents a rare notch in the win column for MRP, which has suffered numerous defeats in local jurisdictions across the nation, likely at a substantial loss to the firm’s financial backers.
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Two Harbors Looking to Partner with Servicers on MSR Purchases

September 11, 2013
Brandon Ivey
Two Harbors revealed that it sold several billions of dollars’ worth of agency MBS in the third quarter as the assets became less attractive with rising rates. The proceeds will be used to buy MSRs.
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