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Home » Authors » George Brooks

Articles by George Brooks

FHA Originations Up 16 Percent in Second Quarter, Quicken the Top Dog

September 3, 2014
George Brooks
JPMorgan Chase, whose chairman and CEO Jamie Dimon has contemplated leaving the FHA program, originated $1.14 billion during the first half, a 55 percent decline from a year ago.
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Short Takes: IMA Selling $4 Billion of Fannie MSRs / PennyMac Looking to Buy MSRs? / New Final Rules From FHA / HSBC Sells Receivables / Carrington Mortgage Hires Ex-JPM Executive

September 3, 2014
George Brooks and Paul Muolo
It appears that PennyMac Financial Services is in the market to buy MSRs...
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FHA Lending to Low FICO Score Borrowers Increases

September 2, 2014
George Brooks
The study’s findings challenge certain beliefs about FHA lending, namely that high insurance premiums, lender overlays and low credit scores are denying many qualified borrowers access to the program.
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Reverse Mortgages Reportable Under HMDA If CFPB Gets Its Way

August 21, 2014
George Brooks
Currently, residential lenders only have to report information on a closed-end reverse mortgage if the transaction involves a home purchase, home improvement or refinancing.
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Surprise: FHA Chief Carol Galante Resigns, Effective This Fall

August 11, 2014
George Brooks
In late July Galante met with the press to discuss working with FHA lenders. But now she's handed in her resignation. Why?
Read More

Short Takes: Morgan Stanley Set to Issue a Jumbo MBS / Delinquency Rates Fall Again / Americans Remain Ambivalent About the Housing Market / Limiting HECM Withdrawals Reduces Defaults / Comments Due to CFPB on Narratives

August 7, 2014
George Brooks, Brandon Ivey, and Thomas Ressler
Morgan Stanley is set to issue its first jumbo mortgage-backed security since the financial crisis.
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FHA’s Mortgagee Review Board Penalizes 46 Lenders, 25 Lose Agency Approvals

August 1, 2014
George Brooks
FHA violations were related to lender approval, loan origination and mortgage servicing practices.
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FHA Endorsements Rise for 620 to 679 FICO Scores

July 21, 2014
George Brooks
The distribution of FHA borrower credit scores continued the migration seen in previous quarters, though at a slower pace in 1Q14.
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Federal Reserve Plan Means More Due Diligence on Third-Party Servicers

July 16, 2014
George Brooks
Morgan Stanley’s regulatory action plan supplements the firm’s global risk-management program for third-party servicers, which is currently in place.
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FHA Lenders Find Glitches in the Agency’s New Loan Portal

July 15, 2014
George Brooks
Mortgage firms are concerned they may be sanctioned or penalized if they make a mistake, but the FHA at this time likely will not take any action because the system is so new.
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