Justice Stephen Breyer raised eyebrows by characterizing the government’s net worth sweep of Fannie Mae and Freddie Mac profits as nationalization of the GSEs.
A revival could be underway in bulk MSR sales but the real fireworks may come in the first quarter of 2021. Pricing? It’s headed north, at least for GSE product.
She’s not a brain surgeon, but a Democratic legislator from the Rust Belt. Midweek, Joe Biden revealed Rep. Marcia Fudge as his pick for Housing secretary.
House Financial Services Committee Chair Maxine Waters, D-CA, wants various rules and regulations introduced during Trump’s presidency to be rescinded or replaced.
Mr. Cooper has agreed to pay more than $131 million to settle two separate investigations tied to servicing violations following the 2008 financial crisis.
Like in previous annual reports, the Financial Stability Oversight Council noted that nonbank mortgage companies can be more vulnerable to financial difficulties than depositories.
Purchase-mortgage production is expected to climb to a record high next year, according to industry economists. Refis may not match this year’s unprecedented volume but will still remain strong.
In testimony before lawmakers, both Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell stressed that time and care is needed to raise capital before the GSEs exit conservatorship.
Regulatory reforms initiated after the 2008 financial crisis seemed to work as intended during the COVID-19 downturn, according to participants at the ABS East conference.
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