If billionaire Mike Bloomberg starts looking like a front-runner in the 2020 presidential elections, putting out stock offerings on Fannie Mae and Freddie Mac could prove difficult.
The future looks particularly bright these days for non-qualified-mortgage shops looking to sell or go public. One lender that can take down the for-sale sign is Citadel Servicing Corp.
Concerned about relaxed appraisal standards for mortgage originations, two senior members of the House Financial Services Committee want the Government Accountability Office to conduct a study.
Mortgage service providers are seeking a clarification from the Federal Communications Commission on the definition of an “automatic telephone dialing system” in light of differing court interpretations.
Fannie Mae reported ”fair value losses” of $2.2 billion for 2019. That’s compared to a $1.1 billion gain in 2018, and a $1.2 billion loss in 2017. Volatility in the company’s income reflects its hedging operations.
Loan applications took a dive last week but for the most part lenders remain optimistic about the months ahead. Meanwhile, a fintech lender plans to buy a bank, an industry first.
Federal Reserve economists found that black and Hispanic borrowers ended up with mortgage rates 2 to 3 bps higher than those of white borrowers. But they also found that these minority borrowers paid fewer points, offsetting the difference in interest rates.
Just like previous budgets proposed by President Trump, the 2021 version stands little chance of getting passed by Congress. But it does provide a win-dow into the administration’s priorities.
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