FHA Requires Documentation of Certain Downpayment Assistance Funds May 15, 2013 George Brooks The Federal Housing Administration has streamlined requirements for permissible sources of downpayment funds, which should be a boost to borrowers using government financing. Read More
Subprime Lender Deephaven Searching for Warehouse Lines May 15, 2013 Paul Muolo Is the warehouse lending community closed to new subprime lenders, even if they have high downpayment requirements? Read More
Shellpoint Provides More Details on First ‘Nonconforming’ MBS May 15, 2013 Paul Muolo A planned MBS from Shellpoint could provide more liquidity for loans made to self-employed borrowers. Read More
Short Takes: Turn the GSEs Into a Cooperative? / Share Price of Fannie Common Getting Frothy / FHA Finally Gets Some Good News / LPS Launches New Product / Fannie Ready for Modifications May 15, 2013 George Brooks, Paul Muolo, and Charles Wisniowski Why is the share price of Fannie Mae's junior preferred stock rising so much? Also, send Freddie Mac "back to the future"?Read More
GSE Mortgage Portfolios Continued to Shrink in First Quarter May 14, 2013 John Bancroft Fannie Mae and Freddie Mac are continuing to shrink their retained portfolios as mandated by their regulator.Read More
Mortgage Deduction Maximized on the Coasts, Costs U.S. $72 Billion Annually May 14, 2013 Thomas Ressler The mortgage interest deduction is costing the U.S. Treasury roughly $72 billion a year.Read More
FHFA Called on to Turn Jumbo Market Over to Non-Agency Sector May 14, 2013 Brandon Ivey One mortgage expert warns that lowering GSE loan limits one step at a time to $417,000 could leave parts of the residential market underserved. Read More
SunTrust Hires Former CitiMortgage Executive to Run Retail Mortgages May 14, 2013 Paul Muolo Jeffrey Walker, the new head of residential retail for SunTrust, has worked for such lenders as CitiMortgage and Wells Fargo. Read More
Freddie Streamlined Modification Program to Boost MI Sector May 14, 2013 Paul Muolo A new modification program from Freddie Mac also will pay mortgage servicers $1,400 per unit for each successful loan restructuring. Read More
Short Takes: Sen. Franken Tries to Tell Wall Street How to Rate Deals / Impac Rewards Top Executives Nicely / A New Player in Warehouse Lending? / 360 Mortgage Continues to Expand in Wholesale / Two New Subcoms from MISMO May 14, 2013 Brandon Ivey, Paul Muolo, and Thomas Ressler If. Sen. Franken has his way, the MBS rating system will change. Meanwhile, top executives at Impac Mortgage clean up.Read More
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