The guidance, effective October 15, applies to manually underwritten FHA loans and requires lenders to document reasons for approving a mortgage when the borrower has collection accounts or judgments.

Investors searching for residential servicing rights can take a run at new offerings from Interactive Mortgage Advisors and MIAC, among others.

Senate Majority Leader Harry Reid appears to have come out in support of Fannie Mae and Freddie Mac. But will other elected officials follow suit?

Lenders would be well served to periodically re-assess the fair lending impact of their policies especially in regard to the qualified mortgage rule.

Fannie Mae said that, assuming publication of the CFPB final rule comes in the fall, more information will be available later in 2013 on implementation plans.

The three government MBS agencies issued $144.26 billion of single-family MBS last month, down 3 percent from June’s level. It was the lowest monthly production level so far in 2013.

Industry reaction to Obama’s speech was generally favorable, particularly as it related to his call for continued, unfettered access to the 30-year FRM.

Stated-income loans are being offered at 5.49 percent as long as the borrower puts down 20 percent. Meanwhile, Walter wants to keep its contract terms with Fannie Mae secret.

Redwood Trust said it expects to hit its goal of acquiring $8 billion in non-agency jumbos in 2013, “but it won’t be easy" company officials said.

According to the Department of Housing and Urban Development, FHA has nearly exhausted its $25 billion authority for FY 2013 to insure multifamily, risk share and health care programs.