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PHH Mortgage Inks MSR Agreement with FHLB

July 1, 2022
Dennis Hollier
The Ocwen subsidiary will purchase MSRs through the FHLBank of Indianapolis’ mortgage purchase program. PHH will also offer subservicing to banks and nonbank lenders that are members of the bank.
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FHFA Faces Climate Change Challenge

July 1, 2022
Dennis Hollier
The Federal Housing Finance Agency’s auditor concluded that the agency complied with an executive order making climate-related risk a priority for financial regulators.
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FHFA Report Contrasts Enterprises and FHLB

July 1, 2022
Dennis Hollier
The FHLBanks eked out a tiny profit in 2021, while net income at Fannie and Freddie soared.
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Thompson Sworn In as Head of FHFA

July 1, 2022
Dennis Hollier
Almost exactly a year after taking the helm as acting director, Thompson begins a five-year term as head of the Federal Housing Finance Agency. She is the first woman to hold the job.
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A Big Week for Fannie’s Capital Markets Team

July 1, 2022
Dennis Hollier
Fannie issued new CRT notes and offered to buy back old ones.
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Three Sentenced in FHLB Affordable Housing Program Scam

July 1, 2022
Dennis Hollier
A federal court in South Carolina uncovers a scheme of kickbacks and bribes related to FHLB and HUD affordable housing program grants.
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PIMCO-Owned FGMC Files for Chapter 11 Bankruptcy

July 1, 2022
Paul Muolo
First Guaranty Mortgage Corp., a prime and non-agency lender owned by PIMCO, has gone bust, leaving a long list of creditors in its wake. The big question: Are there other FGMCs out there?
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Bank Buybacks Declined in 1Q22, Lender Trends Varied

July 1, 2022
Namrata Bhatia
Overall, banks and thrifts reported a decline in the volume of mortgage repurchases and indemnifications made during the first quarter, but most major institutions saw increases. (Includes data chart.)
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Congressional Panels Blame SFRs for Affordability Crisis

July 1, 2022
Monica Hogan
The single-family rental sector took heat in Congressional hearings from those who believe the presence of institutional investors in the sector makes it harder for low-income families to purchase starter homes.
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Pandemic vs. Financial Crisis: Intervention Worked

July 1, 2022
Dennis Hollier
A Fed economist outlines why the COVID-19-related economic crisis turned out so differently from the 2008 global financial crisis.
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