In the purchase loans securitized by the agencies in the second quarter, the biggest gain was in GSE loans with no primary MI coverage. (Includes three data charts.)
The Supreme Court agreed to take a case this week involving liability under the Fair Credit Reporting Act for a mortgage from the U.S. Department of Agriculture’s Rural Housing Service.
FHA Commissioner Julia Gordon said FHA plans to “very soon” add a proposal to its drafting table on options that mortgage servicers can use to help borrowers reduce their monthly payments to keep them in their homes.
The Mortgage Bankers Association has raised concerns about GSE pricing for third-party originations in a comment letter to FHFA as the agency undertakes changes to its enterprise regulatory capital framework.
FHA said the amount of rental income from the accessory dwelling unit used to determine income may not exceed 30% of the total income used to qualify the borrower.
The change affects new loans endorsed on or after March 20. The last MIP cut occurred in early 2015, when FHA trimmed premiums by 50 bps for 30-year fixed-rate mortgages.
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Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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