During a discussion with Inside The GSEs, Freddie Mac CEO Donald Layton said the credit-risk transfer program is one of the company’s greatest accomplishments.
Freddie Mac updated its Loan Product Advisor to include a feature for assessing the income of self-employed borrowers in an automated underwriting system, the first such tool in an AUS, officials say.
A trade group representing private mortgage insurers urged the Trump administration to reduce the GSEs’ market power by limiting their activities to those not adequately served by the private market.
The Congressional Budget Office found that the choice of accounting treatment for the GSEs has implications on the various options to attract more private capital to the secondary market. It also impacts the transition to alternative structures.
A Senate hearing on Fannie Mae and Freddie Mac pilot programs is back on the schedule for the lame-duck session of Congress following the elections next month.
Fannie Mae and Freddie Mac said it’s critical that the mortgage industry prepare now to implement both the Uniform Mortgage Data Program and the single security next year.
The nation’s major banks had a challenging third quarter as residential production declined at most of the larger shops while nimble-footed nonbanks outperformed, according to a new analysis by Inside Mortgage Trends. Wells Fargo, the nation’s largest home lender and a bellwether for the industry, originated $45.2 billion in residential first liens during the third quarter, a 7.1 percent sequential decline. Its closest competitor, JPMorgan Chase, fared a bit better, funding $24.6 billion of ...
If anyone in the mortgage industry thought Ginnie Mae – and FHA for that matter – might take a kinder, gentler approach to the lenders it manages under the Trump administration, by now they are sorely disappointed. Over the past few weeks, Ginnie has suspended a mid-sized lender – 360 Mortgage Group – from its program and sent Executive Vice President Maren Kasper to the annual convention of the Mortgage Bankers Association to relay the message that agency stress tests are ...
Specific details in consumers’ email addresses and insight into whether lower-case writing is consistently used can be just as useful for predicting defaults as credit scores, according to research published by the Federal Deposit Insurance Corp. The findings suggest that financial technology companies could use data from so-called digital footprints to challenge traditional lending business models. The findings were detailed in a recent paper titled “On the Rise of the FinTechs – Credit ...
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