According to Alice Alvey of Indecomm Mortgage U, “many shops are reassessing originator comp plans for January 2014 to adjust to the changing margins and seize the opportunity to blame it on the change in the law."

“At the end of the day, we’re still dealing with a one-sided contract with a significant termination option,” said Jonathan Jaffe, an attorney who works on GSE buyback issues.

Rep. Maxine Waters, the ranking Democrat on the panel, is promising that GSE "stakeholders" will have input on her housing reform bill.

When it comes to auditing mortgage lenders, does the CFPB know what it’s doing? It all depends on who you talk to. Also, the FHFA cracks down on force placed insurance (again).

Committee Chairman Tim Johnson, D-SD, said the structure of the government guaranty for MBS “must be explicit, appropriately priced, and stand behind private capital that is not guaranteed.”

The audit of the FHA's MMI fund should be ready by Christmas, not Thanksgiving.

According to figures compiled by Inside Mortgage Finance, the GSEs took in $16 billion from buybacks during the first six months of 2013. At the same time, lenders succeeded in getting $7 billion in repurchase requests withdrawn.

“The president believes that Rep. Watt is the very best person to lead the agency at this important time for the housing market and our economy, and that having a confirmed FHFA director in place will help promote certainty for the housing industry,” said a White House spokesman.

Mortgage credit is not easing. Meanwhile: Why did the heads of the CFPB and FHFA cut and run at the MBA show?

The nomination of Rep. Mel Watt, D-NC, to replace current Federal Housing Finance Agency Acting Director Edward DeMarco may not dead after all.