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Volume 2014 - Number 28

July 18, 2014

Citigroup’s Settlement a Gain for Government, But Observers Say It’s a Setback to Recovery

The Department of Justice this week announced a $7 billion settlement with Citigroup to resolve federal and state civil claims related to legacy residential MBS. Industry attorneys are warning that such gargantuan settlements might cause lenders to pull back further, making credit far less available to borrowers and causing economic recovery to falter further. The settlement includes...

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

 

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Poll

HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

vote to see results