An OIG audit found that eight of the 27 senior officials who left FHFA during the review period did not receive required records management training during offboarding.

Some 1.5% of GSE loans have home equity levels below 10%, suggesting Fannie/Freddie borrowers would be resilient if home prices were to decline. More than 83% of loans have at least 30% equity.

As of March, Freddie was named master servicer for 180 securitized transactions comprised of 11,500 loans with a combined unpaid principal balance of $44.1 billion.

Peter Lillestolen has been promoted to vice president, production and sales of targeted affordable housing, at Freddie Mac.

FHFA joins HUD, OCC and CFPB in an effort to promote the use of special purpose credit programs as a way to boost lending in disadvantaged communities.

Overall, mortgage-banking income at banks increased by 8.7% from the first to the second quarter, though income declined at several top banks. (Includes data chart.)

It’s not exactly the best time for a mortgage company to go public, especially with conventional rates north of 7%. But Better.com pulled it off. Then again, its share price is a nightmare and institutional investors are leery.

State tax exemptions on municipal bonds encourage banks to load up on the asset. But to offset their exposure to the local real estate market, banks loosen credit to increase their out-of-state mortgage originations.

James Brody, a senior litigation partner at Garris Horn, provided strategies lenders could use to avoid repurchase demands, which included negotiating contract terms, diversifying their investor deck and outsourcing underwriting.

The mortgage industry has been slow to adopt eClosing despite the fact that it could help reduce origination costs and streamline business processes.