Although Rep. Jeb Hensarling, R-TX, has vowed to introduce Fannie Mae/Freddie Mac reform legislation sometime this fall, industry stakeholders have shifted their focus to working with the executive branch on the issue. Trade groups have given up on the idea of Congress coming up with a workable solution, believing that change will occur administratively with the Treasury Department working in tandem with the Federal Housing Finance Agency. This belief covers not only ...
The denial rate on mortgage applications calculated solely from Home Mortgage Disclosure Act data provides a misleading measure of credit availability, according to industry analysts. Analysts from the Urban Institute and the Federal Deposit Insurance Corp. authored a paper suggesting that the attributes of loan applicants should be taken into consideration when determining denial rates. “Higher denial rates can be the result of either a tighter credit environment or an increase in ...
Fannie Mae and Freddie Mac generated a combined $6.96 billion in net income during the second quarter of 2018, down from $7.19 billion in the first three months of the year. While Fannie posted a solid 4.6 percent quarterly increase, hitting $4.46 billion in the most recent period, Freddie’s net income was down 14.5 percent from the first quarter. At the midway point in 2018, both government-sponsored enterprises were way ahead of where they were in the first six months of last year ...
There are dozens of residential lenders that use the phrase “fintech” to describe their activities, but whether they will file to become a depository is a different matter.
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