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Volume 2010 - Number 6

February 12, 2010

GSEs, Ginnie Mae Implement HAMP Documentation Changes Expected to Improve Conversion Rates

Fannie Mae, Freddie Mac and Ginnie Mae each issued separate directives to adopt recent changes in the Home Affordable Modification Program to loans backing their MBS, including a key change that borrower income has to be verified before a trial mod can be started. The idea is that collecting documents and completing verifications earlier in the loan mod process will improve the...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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Poll

The Consumer Financial Protection Bureau is completing its first six months of operation. Based on the agency’s regulatory pronouncements and announcements to date, how do you think the agency is doing?

It’s doing a good job of balancing consumer protections with regulating the mortgage industry.
It’s too early to tell what kind of job the CFPB is doing.
It’s not needed and should be closed down.

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Housing Pulse

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