Mortgages

The Federal Housing Finance Agency wants to exclude mortgage real estate investment trusts from membership in the Federal Home Loan Banks. That would be a major setback for the entry-level borrowers who depend on mortgage REITs for sustainable home-financing options.

The Federal Housing Administration's new loan defect "taxonomy" may give lenders better clarity on the quality assurance reviews of FHA loans, but it's not a shield from possible enforcement action by the Department of Justice and other regulators.

Citigroup failed one of the monitoring tests performed as part of the national mortgage settlement, according to new reports filed by NMS monitor Joseph Smith A. Jr.

FHFA report shows FHLBs are well capitalized while Fannie and Freddie continue to see improving loan performance.

Farmers Bank & Trust in Great Bend, Kan., has agreed to sell certain assets of its mortgage division to Prospect Mortgage in Sherman Oaks, Calif.

The U.S. Department of Agriculture's Rural Housing Service is raising the cost of its home-loan guarantees that enable borrowers to purchase homes in certain areas without down payments.

Despite some silver lining, analysts say the Supreme Court decision upholding "disparate impact" in fair-lending disputes will only embolden activists and regulators to bring more cases.

RiverNorth Capital Management is seeking to establish a closed-end fund that would serve as a source of permanent capital for so-called peer-to-peer lenders.

If Congress fails to extend the Mortgage Debt Forgiveness Relief Act, thousands of homeowners still suffering from the effects of the housing crisis could be forced to pay federal income tax on loan modifications or foreclosures.

Citigroup said Jonathan Larsen will add oversight of U.S. consumer banking and mortgages to his role as global head of retail banking, the first major management changes announced under new consumer chief Stephen Bird.

Two groups representing small and mid-size lenders say new proposed state mortgage servicing standards for nonbanks will add an unnecessary layer of regulatory burden, especially for firms servicing Fannie Mae and Freddie Mac loans.

The Consumer Financial Protection Bureau's new mortgage integrated disclosure rules will now take effect Saturday, Oct. 3, two days later than the previously rescheduled Oct. 1 deadline.

Bankers and commercial real estate developers are protesting new restrictions on construction lending, arguing they are poised to hurt credit availability and drive loans into risky, unregulated sectors.

The second-largest provider of U.S. mortgages through brokers is bringing back a debt type that's almost disappeared since the financial crisis: Interest-only loans.

Fannie Mae will no longer charge mortgage lenders to submit loans to its Desktop Underwriter automated underwriting system, a decision that follows a similar move by Freddie Mac earlier this month.

Fewer consumers today believe it's difficult to get a mortgage than a year ago. However, the majority of survey respondents still think the origination process is too tough and that there are too few homes on the market.

Access National in Reston, Va., said Chairman James "Ted" Jadlos resigned to focus on a mortgage-related business.

Many lenders may not have been ready for the CFPB's new mortgage disclosure rule if it took effect on Aug. 1 as planned. Now a slip-up by the agency itself has given lenders a two-month reprieve.

The Consumer Services division of Washington state's Department of Financial Institutions has accused Quicken Loans of sending false claims in direct mail advertising to military members.

FHA tries to clarify what loan defects will bring the harshest penalties to guide lenders and instill more confidence.