One industry observer saw the development as indicative of growing nervousness that the CFPB may be putting its Democrat allies on Capitol Hill in an awkward position...
Rushmore is licensed in all 50 states, Washington DC, and Puerto Rico. It has offices in Irvine, Dallas and San Juan, PR, where it services roughly $1 billion in assets...
The CHLA suggests, among other things, that the U.S. Treasury stop sweeping all GSE profits and instead put that money in a capitalization reserve account...
The amount of collateral securing advances at the Federal Home Loan Banks increased by 12 percent, to $688 billion, at the end of 2014, according to a newly released report by the Federal Housing Finance Agency. The report provides details of the levels of collateral pledged to the FHLBanks securing advances. Listing was the most used form of collateral as of the end of 2014, and accounted for 49 percent of collateral pledged. This was followed by blanket pledges, a lien on all or specific categories of a member’s assets, which was 39 percent of collateral pledged. Both were up 2 percent from the previous years. The report noted that FHLBanks typically give members greater borrowing capacity when...
The Securities and Exchange Commission dropped its civil fraud case against Thomas Lund, former executive vice president of Fannie Mae’s single-family business in the years leading up to conservatorship. The discontinuance of the case was announced this week by Lund’s attorney Michael Levy of Paul Hastings. “Thomas Lund has been vindicated,” he said. “After investigating for three years, litigating for another three years, deposing 50 witnesses and hiring four experts, the SEC concedes that it has not prevailed,” he said, adding that Lund will refrain, for 12 months, from signing things that he never signed in the past and has no intention of signing in the future. Lund will pay the agency $10,000. However, the SEC is classifying the payment as a “gift” to the...
With mortgage debt outstanding climbing by 0.4 percent during 2Q, the share of securitized loans fell to 64 percent at June 30, the lowest level since 2012.
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