Complaints about inaccurate data include issues such as account status, account terms, “information is not mine,” personal information, public record and “reinserted previously deleted information.”
Fannie and Freddie held a combined $252 billion in Alt A and subprime mortgage assets at the end of June, down 18.3 percent from the second quarter of 2013.
Many banks are beginning to shy away from the product as the Inspector General of the Department of Housing and Urban Development and Justice Department take banks to task for underwriting flaws.
SIFMA's call for higher guaranty fees might sound like heresy in the mortgage industry, but the trade group clearly wants the non-agency market to revive.
The notion of a common pass-through MBS issued by Fannie Mae and Freddie Mac was formally put in play this week, as the Federal Housing Finance Agency solicited comment on a proposed “single security” for the two government-sponsored enterprises. The Mortgage Bankers Association has been pushing the concept for several years, and it made it onto the FHFA’s formal agenda for the GSEs in 2014. Proponents say it would improve liquidity in the market and level out Freddie’s pricing disadvantage. Under the FHFA proposal, the new common MBS would adopt...