Lenders One, the nation’s largest mortgage cooperative, is telling its members they need to get their Fannie Mae servicing approvals by the end of January to be eligible for discounts under an affinity deal it has with the GSE.
Despite the bad press and the elimination of the standard fixed-rate reverse mortgage product from the Home Equity Conversion Mortgage program, reverse mortgages will continue to thrive simply because people grow old, former Ginnie Mae chief Joe Murin told Inside FHA Lending.
The Federal Housing Finance Agency said it has settled one of its numerous lawsuits against non-agency mortgage-backed securities issuers for misrepresenting deals that were sold to Fannie Mae and Freddie Mac before the mortgage market collapse.
Although mortgage profits reported for the fourth quarter, so far, have been strong, trouble may lie ahead for the sector with lower gain-on-sale margins and moderately contracting spreads, according to analysts at Keefe, Bruyette & Woods.
Inside Mortgage Finance shortly will publish its final 4Q ranking of FHA lenders, but it appears that the October-December period was one of the strongest in terms of loan production in quite some time ...plus other mortgage briefs.
Relatively new players to the world of Fannie Mae approvals are starting to gripe a little more about the “volume curbs” that the GSE is placing on its “newbie” customers. One mortgage banker, who spoke under the condition his name not be used, told Inside Mortgage Finance ...
Mortgage lenders are still trying to figure out how much regulatory uncertainty they are facing thanks to Friday’s court decision that appears to invalidate the appointment of Richard Cordray to head the Consumer Financial Protection Bureau.
Mortgage lenders funded $232.69 billion worth of FHA loans in 2012, a 22 percent jump from the year prior, according to exclusive loan-level data compiled by Inside FHA Lending.
HUD is investigating reports that a loan officer of an approved FHA lender had participated in a reverse mortgage borrower’s counseling session, a practice HUD frowns upon.
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