Fannie Mae and Freddie Mac are legally bound to poverty and to remain instruments of the federal government in perpetuity, but Treasury officials argue that the current conservatorship arrangement is better for the government-sponsored enterprises and the housing market. At a seminar in Washington, DC, this week, Treasury Counselor Michael Stegman said that the GSEs benefit from the agreement under which nearly all of their profits are siphoned off by the government ...
Credit unions reported a marked 17.0 percent drop in mortgage originations during 2014, but the industry managed to increase is footprint in the industry, according to a new Inside Mortgage Finance analysis of call-report data. Credit unions originated $117.2 billion of home loans last year, or 9.45 percent of the estimated $1.240 trillion in total mortgage originations. Their aggregate lending volume was down about half as much as the overall market decline from ... [Includes two data charts]
Small nonbank mortgage lender groups and other industry representatives once again took the opportunity provided by sympathetic Republicans in Congress to express their anxiety about being able to comply with the pending integrated disclosure rule from the Consumer Financial Protection Bureau when it kicks in Aug. 1, 2015. They echoed a call made late last month by Reps. Blaine Luetkemeyer, R-MO, and Randy Neugebauer, R-TX, for the CFPB to institute a ...
The general fear is that higher-than-needed capital standards will cause mortgage insurers to hold unnecessary amounts of assets that will force the industry to raise premiums.
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