According to HUD’s policy handbook, a non-permanent resident alien is eligible for FHA financing if the property will be the borrower’s principal residence…
In a new investor update filed with the Securities and Exchange Commission, megaservicer Mr. Cooper (Nationstar Mortgage) says it has a tangible net worth ratio of 13.2%, as measured in accordance with standards set by the Federal Housing Finance Agency...
The package from IMA has 30 months of seasoning and FICOs of 735. Dovenmuehle Mortgage, Lake Zurich, IL, is the subservicer. The portfolio has a Northeast geographic concentration.
The Consumer Financial Protection Bureau, in the fall of 2018, announced plans for rule-making to define the meaning of “abusive” under its authority to ban unfair, deceptive or abusive acts or practices.
Two of the top nonbanks had remarkable starts to the year. Second-ranked Quicken Loans posted a 13.6% increase in production from the fourth quarter and third-ranked United Wholesale Mortgage upped its volume by a stunning 63.1%.
It stands to reason that as Fannie Mae and Freddie Mac continue to shrink, they’ll need fewer employees, right? But what about their regulator, the Federal Housing Finance Agency? If Fannie and Freddie are smaller, shouldn’t the FHFA be smaller?...
H.R. 299 eliminates the cap on VA home loans, which means that qualified homebuyers can now borrow above the agency’s standard loan limit of $484,350 for most counties in 2019 with no downpayment requirements.
Annaly and Barclays also like the idea of replacing Fannie and Freddie with several smaller MBS guarantors. At March 31, Annaly owned roughly $103 billion worth of agency mortgage-backed securities...
First Republic’s IO holdings had a weighted average loan-to-value ratio of roughly 56%, based on appraised value at the time of origination. The loans have credit scores averaging 762.
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