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Ginnie Mae Issuance Drops in 1Q, Wells and JPM Continue to Dominate

April 8, 2013
George Brooks
Ginnie Mae production fell 5 percent in the first quarter, marking a slowdown in FHA/VA lending, but the decline could be temporary.
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Bank of America Selling $16 Billion of Servicing Rights

April 8, 2013
Paul Muolo
Bank of America is once again offering for sale a large package of mortgage servicing rights and at least a half-dozen or so buyers are lining up to bid.
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UBS Loses Appeal to Dismiss FHFA Subprime MBS Case

April 8, 2013
Charles Wisniowski
After losing an appeal, the UBS MBS case brought by the Federal Housing Finance Agency is set for trial early next year.
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FBR: Refi Cliff Will Happen ‘Later’

April 8, 2013
Paul Muolo
A collapse in the refi market may not happen until much later in the year, according to a new report.
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Golden First Mortgage Sued by DOJ for FHA Violations

April 8, 2013
George Brooks
According to the government, Golden First Mortgage Corp. of Great Neck, NY, failed to carry out its duties and responsibilities as a direct endorsement lender, leaving FHA with large losses.
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Short Takes: Obama Budget Cliff Hanger: Will FHA Need an ‘Appropriation?’ / Of Hedge Funds and GSE Acknowledgement Letters / Union Bank Expands Commercial Presence / Competition for ASF

April 8, 2013
Brandon Ivey and Paul Muolo
Will FHA need a government bailout? Better read the new Obama budget document.
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GSE Business Volume Up Slightly in Early 2013

April 5, 2013
John Bancroft
Fannie Mae and Freddie Mac securitization volume reached its highest level in nearly four years during the first three months of 2013, according to a new Inside Mortgage Finance market analysis and lender ranking.
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CFPB Cracks Down on Dormant Captive Re Practice

April 5, 2013
Thomas Ressler
The Consumer Financial Protection Bureau announced enforcement actions on Wednesday against four private mortgage insurers left standing after the financial market collapse, putting the squeeze on the industry’s use of captive reinsurance arrangements, which ceased when the financial markets collapsed, and fining the four companies relatively small, token amounts.
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Regulators Faulted on Independent Foreclosure Reviews

April 5, 2013
Brandon Ivey
The independent foreclosure review process established by federal regulators for 14 servicers was “deeply flawed,” Rep. Maxine Waters, D-CA, said on Thursday in response to a report on the reviews by the Government Accountability Office. Waters said she will introduce legislation next week to address problems relating to use of outside contractors for enforcement actions.
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Hearings on Housing Finance Reform on Committee’s April Agenda

April 5, 2013
Charles Wisniowski
The creation of a “sustainable housing finance policy” and an end to the “too big to fail” oversight approach with large banks top April’s to-do list for the House Financial Services Committee when Congress returns from its two-week spring recess next week.
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