Investment bankers that make a market in flow servicing rights increasingly are worried about the role Fannie Mae and Freddie Mac play in the space and are beginning to wonder if the two government-sponsored enterprises are creeping beyond their charters.
Eli Global is hardly a household name in residential finance, but the privately held investment firm aims to be a player in the industry by purchasing mortgage companies and running them as separate entities.
President Trump this week nominated a little-known White House budget official to run the Consumer Financial Protection Bureau, effectively allowing Mick Mulvaney to stay as the agency’s acting director, possibly until 2020.
Ginnie Mae is working on a process that would allow it to accept digital promissory notes and other digitized loan files, in addition to traditional paper mortgages, as eligible collateral for its securities, according to a white paper the agency issued this week.
Lawsuits brought by cities with allegations of violations of the Fair Housing Act (FHAct) by lenders are continuing after a decision by the U.S. Supreme Court with a mixed message for lenders.
Trade groups representing mortgage servicers asked the Federal Communications Commission to issue interpretations of the Telephone Consumer Protection Act that will help them contact borrowers.
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