Galante is a former FHA commissioner who presently serves as faculty director of the Terner Center for Housing Innovation at the University of California Berkeley. She also sits on the board of Ocwen Financial.
The agency – which still doesn’t have a permanent president – issued $443.2 billion of MBS backed by forward single-family mortgages in 2017, a 10.8 percent decline from the previous year.
Chase continues to grow the volume of residential whole loans kept on its balance sheet: $197.3 billion at yearend compared to $181.2 billion at the end of 2016.
Thanks to the new bill signed by President Trump, Wells enjoyed a $3.35 billion after tax benefit. However, the company also recorded a $3.25 billion pre-tax expense tied to “litigation accruals for a variety of matters, including mortgage-related regulatory investigations..."
Non-agency MBS issuance had its best quarter of 2017 during the final three months of the year, boosting annual production 30.2 percent higher than in 2016, according to a new ranking and analysis by Inside MBS & ABS.
The Department of Veterans Affairs and Ginnie Mae are ramping up efforts in 2018 to curb serial refinancing, including long-term solutions, increased portfolio monitoring and protection for veterans against predatory lending practices.
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