Freddie Mac continued to make a profit in the first three months of 2017 but its net income slipped to $2.2 billion, a 54.2 percent sequential decline from the previous quarter, according to the government-sponsored enterprise’s earnings statement published this week. The GSE attributed the decline to a reduction in market-related gains with interest rates and spreads remaining steady. There were fewer refinance transactions, and non-cash hedging gains disappeared during the quarter. Freddie’s core business of collecting guarantee fees continued...

Congress should consider comprehensive reform in six areas to improve the solvency of the National Flood Insurance Program and improve resilience to flooding, according to a new report from the Government Accountability Office. The report comes in the wake of bipartisan legislation introduced last week in the Senate to reauthorize the NFIP and to broaden participation of private insurance in the flood insurance market. The program’s current authorization will expire in September this year. The GAO recommended...

The Consumer Financial Protection Bureau last week warned that a large downpayment alone is not enough to prove the ability to repay a non-qualified mortgage when the loan was underwritten based on the consumer’s assets. “As an initial matter, a downpayment cannot be treated as an asset for purposes of considering the consumer’s income or assets under the ATR rule,” said the CFPB. “The ATR rule requires creditors to consider a consumer’s reasonably expected income or assets, ‘other than the value of the dwelling, including any real property attached to the dwelling that secures the loan.’” Further, while the size of a downpayment generally affects the loan amount, the ATR rule already accounts...

The two top executives at Impac Mortgage Holdings took home a combined $13.22 million in pay last year...

Denmar Dixon, who stepped down as CEO of Walter Investment Management Corp. last year, received $6.62 million in total compensation for 2016 while the company posted a net loss of $529 million.

Ocwen’s management noted there is no guaranty the deal with New Residential will actually close.

Collingwood was founded in 2009 by industry veterans Brian O’Reilly, Brian Montgomery and Tim Rood.

During debate on H.R. 10, the Democrats used a procedural maneuver to force a reading of a large portion of the bill’s text…

Bank of America is retaining more of its GSE-eligible loans, though the strategy can result in short-term decreases to mortgage-banking income.

Perhaps the new Treasury secretary finally looked at the numbers, realizing that Fannie and Freddie – wards of the government since September 2008 – forked over roughly $20 billion to Uncle Sam…