UWM is the nation’s largest table funder in the nation, followed by Caliber Home Loans and Stearns Lending, according to a full-year 2016 ranking from Inside Mortgage Finance…
Freddie Mac’s vice president of single-family business transformation is one of five industry innovators honored by the Mortgage Bankers Association with an MBA Insights Tech All-Star Award recognizing industry leaders who have made outstanding contributions in mortgage technology.
The Treasury Department reneged on its support of the Federal Housing Finance Agency’s single- director structure last week. The issue stems from a recent PHH Mortgage-initiated lawsuit challenging the Consumer Financial Protection Bureau’s structure as unconstitutional, which led to questioning the similarly structured FHFA. Although the Treasury previously sided with the FHFA, the Trump administration decided to side with the mortgage lender. The Treasury Department is now making a similar argument that the FHFA’s structure is also unconstitutional. The CFPB and FHFA, the GSEs’ regulator, are independent agencies led by a single director whom the president can only fire for cause.
The Federal Housing Finance Agency Office of Inspector General published several reports on issues related to examiners in late March, including an update on the Housing Finance Examiner Commission Program, which it found to be lagging. The FHFA has acknowledged the need for a commissioned examiner program to provide classroom and on-the-job training to examiners. But, while progress has been made, the IG said more needs to be done to produce commissioned examiners. Of the FHFA examiners that were commissioned, the IG said they were commissioned by other federal or state regulators prior to their work for the FHFA. In 2013, the agency established the...
Fannie Mae CEO Timothy Mayopoulos’ personal relationship with a Fifth Third Bancorp executive has resurfaced thanks to whistleblower complaints, prompting the House Committee on Oversight and Government Reform to ask questions. The relationship between Mayopoulos and Heather Russell, the chief legal officer for Fifth Third Bancorp, caused the bank to terminate its lawyer last summer because of conflict of interest concerns. Both Mayopoulos and Russell are separated from their spouses, and both revealed the relationship to their respective companies. However, the Federal Housing Finance Agency Office of the Inspector General issued a management alert last week about whistleblower complaints, raising...
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