The recent court ruling which called into question the legitimacy of certain recess appointments – including that of CFPB director Richard Cordray – also means the agency may not have any regulatory oversight over nonbanks.
A large and potentially lucrative RFP issued several months ago by FHFA regarding its strategic plan for taking the GSEs to the next stage in their evolution has yet to be awarded.
Underwater homeowners who have remained current on their payments will be able to relinquish their houses and cancel their debt under the terms of a new GSE policy change to take effect in March.
Mortgage lenders funded $232.69 billion worth of FHA loans in 2012, a 22 percent jump from the year prior, according to exclusive loan-level data compiled by Inside FHA Lending.
HUD is investigating reports that a loan officer of an approved FHA lender had participated in a reverse mortgage borrower’s counseling session, a practice HUD frowns upon.
Final rules establishing national mortgage servicing standards may reduce the incentives for states to adopt their own varied, unique versions, thus reducing the patchwork of state mortgage servicing laws. At the same time, however, the final rules are a floor and states – and the government-sponsored enterprises – may adopt more stringent consumer protections, cautioned attorneys with SNR Denton. An analysis by the Washington, DC, law firm said the final rule issued by the Consumer Financial Protection Bureau ...
The government-sponsored enterprises’ share of purchase-mortgage originations has increased each of the last two years, according to a new analysis by Inside Mortgage Trends. The shift in market share includes decreased purchase-mortgage originations for the FHA and a lack of housing inventory, prompting increased home prices. Some $377.2 billion in agency purchase mortgages were originated in 2012, with a 66.5 percent share for Fannie Mae and Freddie Mac combined. In 2010, the GSEs ... [Includes one data chart]
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