Former FHA Commissioner Dave Stevens: “The absence of banks in FHA has been a challenge ever since the False Claims Act was used as an excessive enforcement mechanism, making it far too great a risk to participate in the program.”

The GSE regulator said its expects SOFR ARMs to be delivered in the second half of 2020...

After the FCA payment to Uncle Sam, JPM remained as a correspondent buyer of FHA loans but its Ginnie Mae MBS issuance volume has slipped tremendously…

The AGs believe depriving the CFPB of its powers would harm the states by eliminating the agency’s independent enforcement efforts and the valuable assistance it provides…

Lenders and servicers that fail to provide their reports to the OCFI in a timely manner may be subject to penalties.

“The next major milestone for FHFA is the re-proposal of the capital rule, which will happen in the near future,” said FHFA Director Calabria.

One advisor noted in an email exchange: “The market thinks the deal is just waiting on NYS. You know how that goes: S-L-O-W.”

Among the more interesting changes: the FHFA, for the first time ever, is asking GSE customers to hold capital against the dollar amount of Ginnie Mae mortgages they service: 35 basis points.

Valentin joins the government agency from Compass Point Research and Trading Group where he served as managing director/equity research analyst.

In December, Mr. Cooper reported that pre-tax profit margins on originations fell to 1.1% in October and November from 1.3% in the third quarter.