Members of the House believe FHFA does not have the legal authority under HERA to reduce GSE loan limits.

It's not looking pretty for gain-on-sale margins this quarter. However, interest rates will remain low.

The auction is being held on the government’s behalf by DebtX. In total, 29,000 nonperforming loans will be offered for sale.

Meanwhile, smaller mortgage lenders that do not have delegated underwriting authority are reporting delays on getting loans closed.

The CMC letter follows one sent last night by 15 housing and mortgage-related trade groups to Acting FHFA Director Edward DeMarco, asking him not to lower the GSE loan limit, while questioning the legality of such a change.

ABA will send FHFA its own letter on GSE loan limits. Meanwhile, CFPB finds two mortgage bankers over RESPA violations.

As usual, the Federal Housing Finance Agency provided as little detail as possible in its new disclosures on the common securitization platform.

PHH is the latest top ten-ranked residential lender to unveil mortgage layoffs. The workers were given 60-days notice.

What if the U.S. government actually defaults on its debt – what would that do to the value of MBS and Treasuries held on the balance sheet of banks? You may not want to know the answer.

Industry advisors and lobbyists hope they can move the implementation date for lower GSE loan limits deep into the second quarter, but they also realize they cannot forestall it completely.