The Department of Justice declared: “A separation of powers problem with an agency does not compel invalidation of the agency’s actions if those actions are subsequently approved in compliance with separation of powers requirements.”

The Treasury Department argued producing the documents would be “unduly burdensome” and “disproportionate to the needs of the case.”

Professionals familiar with the product say investment-property loans underwritten using debt service coverage ratios are easier to underwrite than mortgages made to self-employed borrowers using bank statements...

Correspondent production of FHA/VA loans rose 25.8% from the second quarter, although retail actually recorded a higher increase.

Since mid-September, four nonprime-related M&As have either been announced or have come to light through market sources: Deephaven Mortgage’s acquisition by Pretium Partners; Redwood Trust’s purchase of CoreVest American Finance and Citadel Servicing’s takeover by HPS Investment Partners. And now the Luxury deal.

It would be a radical change, but the FHFA may allow nonbank mortgage firms to become FHLB members, giving them access to advance window...

Originations are increasing, demand in the secondary market is strong and the interest rate premium on non-QMs is declining, helping to prompt more lending volume.

The number-one-ranked MI firm has a market share of 19.6%. The number-five-ranked shop is at 16.1%. Quite a foot race…

Based on third quarter figures compiled by Inside Mortgage Finance, FHA lending accounts for 10.17% of the overall first-lien origination market.

Calabria stressed the plan is process-based rather than calendar-driven. He also pointed out that the two mortgage giants will have to be adequately capitalized and make appropriate changes to their culture.