Short Takes: The QRM Rule: 5% Down? / Jumbo Prices Getting Frothy? / Applications Fall but Don’t Panic / MSR Auctions of All Sizes February 14, 2013 Brandon Ivey and Paul Muolo Three senators are pushing for 3 percent downpayment language on the QRM rule.Read More
Obama to Congress: ‘Take a Vote and Send Me’ HARP 3.0 February 13, 2013 Charles Wisniowski President Obama, during his State of the Union address, urged Congress to get the HARP 3.0 refinancing program off the ground.Read More
Fannie Moves Closer to Selling Nonperforming Mortgages, Hires Milestone February 13, 2013 Paul Muolo Fannie Mae is working on a plan to sell billions of dollars of nonperforming loans in the second quarter. Read More
Industry Expects GSEs to Double Seller Net-Worth Minimum February 13, 2013 Paul Muolo Officially, the GSE net-worth minimum is set at $2.5 million, but some in the industry think it will double eventually.Read More
Industry Can Question CFPB on Mortgage Rule Interpretations February 13, 2013 Paul Muolo The CFPB said mortgage lenders can ask the agency "important" interpretation questions on the many rules that it finalized this year.Read More
Short Takes: FHA Chief Worries About Pricing Borrowers Out of the Market / Fortress Has Plenty of Cash to Spend on MSRs / Former Freddie Executive Key Player in Cerberus REIT / New Penn Hires Correspondent Chief / Fay Servicing Who? February 13, 2013 George Brooks and Paul Muolo Fortress Investment Group has raised $1.6 billion to buy mortgage assets, including servicing rights.Read More
CFPB Warns Servicers on MSR Transfers, Nonbanks Targeted February 12, 2013 Brandon Ivey The CFPB has warned the mortgage banking industry that it should pay close attention to loss mitigation work when servicing rights are transferred. Read More
FHA Likely to Price Its Way to Lower Market Share February 12, 2013 John Bancroft FHA single-family production rose 22.3 percent in 2012, but another increase in the mortgage insurance premiums will likely accelerate the program’s three-year decline in market share.Read More
JPMorgan Chase Working on Jumbo MBS February 12, 2013 Brandon Ivey and Paul Muolo JPMorgan Chase is working on a jumbo MBS deal but it may place the bond in the the private market. Read More
FHFA Kills Plan to Lower Force-Placed Insurance, But Fannie Adamant February 12, 2013 Paul Muolo The Federal Housing Finance Agency this week killed a plan being heavily promoted by Fannie Mae to reduce force-placed insurance rates. Read More
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