Last month, a pair of watchdog organizations asked the inspectors general of the Federal Housing Finance Agency and the Department of the Treasury to investigate whether media leaks by officials at FHFA or the Office of the Comptroller of the Currency were part of an insider trading scheme.
The Current Expected Credit Losses standard, a new accounting protocol expected to go into effect in 2020, could have an outsized impact on Fannie Mae and Freddie Mac, according to Rep. Blaine Luetkemeyer, a prominent Republican on the House Financial Services Committee.
The general consensus was that Mark Calabria would be easily confirmed as FHFA director. So it came as somewhat of a surprise when his nomination passed out of the committee last week on a 13- to-12, straight party-line vote.
The Securities Industry and Financial Markets Association finally approved the uniform mortgage-backed security for delivery in the crucial to-be-announced market.
Freddie Mac increased its production of single-family mortgage-backed securities at a time when its two secondary market competitors saw significant declines in volume. [Includes two data charts.]
Zillow Group, which has tentacles in the mortgage industry, in late February announced that Rich Barton, the firm’s co-founder and former CEO, is returning as chief executive. Spencer Rascoff, a co-founder who has served as Zillow’s chief since 2010, will step down but will stay on as a director.
In a show of bipartisanship, work on reforms in the credit bureau industry kicked off this week, with legislation circulating and the House Financial Services Committee’s hearing testimony from CEOs of three major rating agencies.
This week, Mark Calabria moved a step closer to heading the Federal Housing Finance Agency. His nomination as the agency’s director was approved by the Senate Committee on Banking, Housing, and Urban Affairs on a party-line vote of 13-12.
Do you trust your mortgage lender? This turns out to be a crucial question when it comes to persuading borrowers to refinance their homes, according to a paper by researchers at the Columbia Business School. The answer they got: Not so much.
RSS