Annaly Capital Management, the largest MBS investing real estate investment trust in the country, is off to a fast start in 2019, unveiling yet another offering of common stock — this one valued at $731.0 million.
Industry observers have generated a steady stream of ideas on how the agency might reform the government-sponsored enterprises administratively rather than wait for Congress.
Under RESPA, servicers are generally required to consider borrowers for loss mitigation if the servicer receives a loss mitigation application at least 37 days before a scheduled foreclosure sale.
Private mortgage insurers continued to expand their presence in the flow of purchase-money mortgages into mortgage-backed securities issued by Fannie Mae, Freddie Mac and Ginnie Mae. In 2018, lenders sold $243.54 billion of purchase loans with private MI coverage to Fannie and Freddie, a sturdy 13.8 percent rise from 2017, according to an Inside Mortgage Trends analysis. Private mortgage insurance accounted for 46.8 percent of agency ... [Includes two data charts]
Mortgage banking firms employed 245,800 full-timers as of the end of November, the worst reading in 10 months, according to figures compiled by the Bureau of Labor Statistics. Mortgage brokerage firms — listed separately in the BLS tracking system — employed 89,100 workers, a loss of 900 positions from October. A year ago, the broker segment had 92,000 full-timers. The seasonally adjusted figures, which trail the national employment numbers by a month, portend uneasiness ahead for ...
The Consumer Financial Protection Bureau late this week issued two separate reports assessing the effectiveness of its Ability-to-Repay/Qualified Mortgage rule and Real Estate Settlement Procedures Act servicing rule. One critical question of the ATR/QM assessment is the fate of the so-called “GSE patch,” which exempts loans eligible for purchase by the two government-sponsored enterprises from the debt-to-income ratio limit of 43 percent. The exemption is set to expire by ...
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