The government MI is waiving a section in the handbook that reads, “Non-US citizens without lawful residency in the U.S. are not eligible for FHA-insured mortgages.”

To the surprise of some, the program wasn’t heavily used by nonbank MBS issuers...

If approved by the Senate he would replace Kathy Kraninger, a business-friendly Trump-appointed official who has led the agency since 2018.

Rather than ending the net worth sweep outright and agreeing to write off some of its preferred shares, Treasury is essentially simply allowing Fannie Mae and Freddie Mac to continue their practice of retaining earnings.

Even though there was no official announcement, that policy expired on December 31.

However, details remain a closely guarded secret...

Corina Gonzalez, a senior vice president at DBRS, believes it will take time for the new standards to prompt changes in the origination equation.

Although a press statement on the transaction notes the number of shares and price range has yet to be determined, the S-1 filed with the SEC says the maximum offering size is $100 million.

There was a huge push for FHA autonomy by former Commissioner Nicolas Retsinas during the Clinton years, but it went nowhere.

The regulatory language — years in the making and prompted by the growing market share of nonbank servicers — addresses capital, liquidity, stress testing and risk management among other things.