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A $4.3 Billion 2Q Profit for the GSEs. COVID Charges Decline

July 30, 2020
Paul Muolo and Dennis Hollier

Thanks to a booming origination market, Fannie and Freddie posted strong earnings for the second quarter despite the economic carnage caused by the pandemic. Their capital positions also improved.


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CFPB’s QM Proposal Would Increase Room for Innovation

July 30, 2020
Brandon Ivey
Changing standards for the qualified-mortgage patch could lead to increased use of proprietary automated underwriting systems.
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Signs of Life in Bulk MSR Sales but Bids Remain Weak

July 30, 2020
Paul Muolo
The bulk MSR market is on the mend but it’s hardly a “good news” story. Bids are weak and dealmakers are advising sellers to wait.
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Former Freddie Chief Against Expanding FHLB Membership

July 30, 2020
Dennis Hollier
The “implied guarantee subsidy” that underpins the FHLBank operations is the reason why financial institutions of all kinds are clamoring for membership, according to former Freddie CEO Don Layton.
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NYDFS Charges First American over Data Breach

July 30, 2020
Brandon Ivey
In its first cybersecurity-related enforcement action, the New York regulator charged First American Financial with inadvertently disclosing more than 850 million personal title insurance documents.
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Industry U-turns on Disparate Impact, Calls for Rule Withdrawal

July 30, 2020
Maria Volkova
According to Ted Tozer, former Ginnie Mae president, lenders experienced aggressive disparate-impact litigation during the previous administration, resulting in initial support for revising the disparate impact rule.
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BofA Settles Disability Discrimination Claims for $300K

July 30, 2020
Yemeng Yang
Bank of America wrote policies between 2010 and 2016 that denied mortgages and HELOCs to adults with disabilities who were under legal guardianships or conservatorships.
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Production Boom Creating ‘Millionaire’ LOs? Yes, Some

July 23, 2020
Paul Muolo
Just how good are loan volumes these days? Answer: there’s plenty of talk about LOs earning $1 million this year and buying Teslas.
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Applause (and Questions) Over Quicken’s 2Q20 Profit

July 23, 2020
Brandon Ivey and Paul Muolo
It’s one for the record books: A $3.55 billion second-quarter profit for Quicken parent Rocket Companies. But how did they do it?
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Fannie and Freddie 2021 Housing Goals Unchanged

July 23, 2020
Dennis Hollier
The Federal Housing Finance Agency said it lacks sufficient data to create statistical models to “reflect economic conditions for 2021” because of the market disruption caused by the coronavirus.
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Latest Imf News

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Featured Data

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