At press time, there were reports circulating that one mid-sized nonbank planning to enter the correspondent acquisition market had pulled the plug and laid off staff. The firm is expected to talk to IMFnews Thursday morning.

The nomination of Rep. Mel Watt, D-NC, to replace current Federal Housing Finance Agency Acting Director Edward DeMarco may not dead after all.

Rep. Maxine Waters, D-CA, announced an agreement to fix unintended consequences (significantly higher premiums) from the Biggert-Waters Flood Insurance Reform Act.

Garth Graham, head of Stratmor Group’s marketing strategy and execution practice, said lenders should use the leads and data they already have.

As directed by the Federal Housing Finance Agency, Fannie Mae and Freddie Mac this year established a three-year sunset period for most reps and warrants on loans with perfect payment histories.

The survey of almost 2,000 real estate agents found that lenders routinely extend their deadlines due to loan processing issues, causing problems for homebuyers

When in doubt, use the whole loan market. Shellpoint Partners is giving up, for now, trying to issue a jumbo MBS.

FHA mortgages were used to finance 22 percent of home purchases in September, based on the three-month moving average.

Through September $2.1 billion in originations by First Republic were included in jumbo MBS this year. The loans accounted for 17 percent of all non-agency jumbos securitized, according to exclusive figures compiled by Inside Nonconforming Markets.

Thanks to the government shutdown, the FHA backlog includes processing endorsements for home-equity conversion mortgages.