The House Financial Services Committee will target White House acting Chief of Staff Mick Mulvaney over his previous role as the interim head of the CFPB, said Maxine Waters, chairwoman of the HFSC, one of the most powerful House committees.
The Treasury Department continues to work on administrative changes for Fannie Mae and Freddie Mac that can be implemented by the Federal Housing Finance Agency, but a blueprint is unlikely until sometime in the early spring.
Changes to the Department of Labor’s overtime rule are anxiously anticipated as they may finally answer, among other things, whether mortgage loan officers are excluded from overtime pay.
The share price of Fannie Mae and Freddie Mac common has been on a bull run since late December, more than doubling in price. But how much more gasoline is left in the tank?
Loans originated on retail production platforms and sold to Fannie Mae, Freddie Mac and Ginnie Mae during the fourth quarter tended to have stronger credit characteristics than those generated by third-party originators. [Includes two data charts]
The Consumer Financial Protection Bureau has acknowledged the rules it implemented in 2014 on servicing and originations increased costs for industry participants.
Struggling Ditech Financial late this week offered up a progress report on its future, saying — among other things — that one of its largest subservicing clients, New Residential Investment Corp., wants out of the contract.
Transfers of agency mortgage servicing rights rose to their highest level in at least four years during 2018, although activity cooled in the fourth quarter. [Includes three data charts]
Freddie Mac names Aleem Gillani to its board of directors; Kroll Bond Rating Agency named an acceptable rating agency by Fannie Mae; Freddie Mac’s Home Possible program hits $50 billion milestone; Fannie Mae expects ransition to Loan Quality Connect to complete by end of March.
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