New HUD Secretary Comes Off as Ill-Prepared for Encounter with House Panel February 11, 2015 George Brooks What did the FHA earn last year? The new HUD secretary didn't know.Read More
Accounting Treatment for Past Due Loans in Ginnie Pools Clarified February 11, 2015 George Brooks According to the MBA, a Big Four accounting firm issued controversial guidance which would have been burdensome for small MBS issuers. Read More
FHA Lending Took It On the Chin in 2014 February 10, 2015 George Brooks Among all lenders, Quicken Loans led the pack with $6.67 billion of production, a 27 percent drop from the prior year.Read More
Obama Estimate on Those Helped by FHA Premium Cut Exaggerated? February 6, 2015 George Brooks Meanwhile, a separate survey conducted by Inside Mortgage Finance found 17 percent of respondents holding the belief that the premium cut will have little effect...Read More
Short Takes: Points-and-Fees Relief on The Way? / HUD Under the Microscope on Capitol Hill / S&P Says ‘Never Mind’ on That Retaliation Thing / MSR Financing Getting Hot? February 4, 2015 George Brooks, Brandon Ivey, Paul Muolo, and Thomas Ressler The Mortgage Choice Act was passed by the GOP-held House in June, but failed to move through the Democrat-controlled Senate. Read More
Correspondent Investor Titan Moves Into Scratch-and-Dent Market February 3, 2015 George Brooks Ruth Lee, executive vice president of TCS, expects a big year in the scratch-and-dent market, thanks to the GSEs. Read More
HUD Re-proposes Controversial Administrative Support Fee February 3, 2015 George Brooks Last year, the mortgage industry cautioned HUD against assessing a fee to fund certain risk management improvements in the FHA program.Read More
Short Takes: WinWater Readies a New Jumbo Deal / How Would Uncle Sam Replace $153 Billion in GSE Income? / S&P Settles Without Admitting Guilt / New Correspondent Hires for LenderLive February 3, 2015 George Brooks, Brandon Ivey, and Paul Muolo Any monkeying with the GSE charters must get past two of the most powerful lobbying groups in all of housing finance...Read More
HUD Issues Guidance on a Foreclosure Alternative for Reverse Mortgages January 30, 2015 George Brooks Issued late this week, the latest guidance provides a new option for reverse mortgage lenders...Read More
One Million FHA Loans Ripe for Refi? Looks That Way January 29, 2015 George Brooks “There’s real business out there,” said Brian Chappelle, a mortgage industry consultant. Read More