The Federal Housing Finance Agency is moving forward with its search to find a CEO to run the new common mortgage securitization platform that will one day be shared by Fannie Mae, Freddie Mac and, potentially, other issuers. But it’s anybody’s guess how much the regulator is willing to pay to get a top-flight candidate, according to industry observers. At least two individuals recently were approached about the job, according to these observers. Funding for the project will presumably come...
For as long as Edward DeMarco remains acting director of the Federal Housing Finance Agency, he said he will push forward with the agency’s strategic plan to wind down Fannie Mae and Freddie Mac while encouraging the return of private capital to the secondary market. DeMarco, along with FHFA Inspector General Steve Linick, testified before the Senate Banking, Housing and Urban Affairs Committee this week. The hearing to evaluate the FHFA’s conduct as regulator and conservator to the government-sponsored enterprises occurred amid reports that the White House is poised to nominate Moody’s Analytics’ Chief Economist Mark Zandi as the FHFA’s new permanent director. “Fannie Mae and Freddie Mac were chartered...
Although all of Bank of America earned $2.6 billion in the first quarter, its mortgage business lost money thanks to legacy problems. Also, it appears the bank is addicted to refis.
The final HUD regulation marks the first time the agency has made changes to the LI program, which enables high-performing lenders to insure forward mortgages without a pre-endorsement review.
Democrats in Congress have raised concerns about how five banks have responded to new servicing standards included in the $25 billion national servicing settlement.
The CFPB is a tough cop on the beat, no doubt. But is the agency and its rules causing certain banks in Oklahoma to exit the residential lending sector?
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