Origination

Freddie Mac has picked a former chief executive of an online securities brokerage firm to be its new CEO, according to published reports.

Decisions such as the definitions for qualified mortgage and qualified residential mortgage are being made in isolation that will have unintended consequences when they are rolled out, such as limiting competition between private mortgage insurers and the Federal Housing Administration.

Digital Risk said it was starting a task force that aims to set best practices for mortgage risk due diligence.

The Federal Housing Administration’s single-family program is facing headwinds as the HUD secretary tries to keep the insurance fund above water and appease critics who want to reign in government programs.

Senate Democrats may try to fast-track a bill to open up the HARP 2.0 program so more lenders can refinance high LTV Fannie Mae and Freddie Mac loans held by large servicers.

Fannie Mae posted $3 billion in total “comprehensive” income in the first quarter, and then turned around and paid the U.S. Treasury $2.8 billion in dividends.

The Obama administration used a speech by the president and an appearance on Capitol Hill by his housing secretary Tuesday to launch a push for legislation that would allow more Americans to refinance into lower interest rate mortgages.

There is a dichotomy that has developed in the warehouse lending marketplace, said one industry consultant. There are more of these lenders around than a few years ago. But they are looking to make credit available only for loans that fit their overlays.

The nearly three-year-long legal battle between Ellie Mae and DocMagic may be close to a resolution, according to recently filed court documents.

An executive at Redwood Trust—the only active jumbo MBS issuer out there—said the firm has been able to expand its business despite challenges, including the government’s continued domination of the market.