The Federal Housing Finance Agency Office of Inspector General took issue with the way Fannie Mae handles potential conflicts with its senior executive officers and wants the FHFA to pay closer attention to the problem.
The mortgage industry has another opportunity to help usher in some potentially dramatic differences in the way the Consumer Financial Protection Bureau goes about its business in the post-Richard Cordray era.
Affordable-housing groups are concerned a plan drafted by Sen. Bob Corker, R-TN, for reforming the housing-finance system threatens fair access to housing. They said the proposal has been developed with little or no input from affordable-housing advocates and civil rights groups, and it doesn’t offer enough support for affordable-housing goals.
Ongoing issues with the income-verification system at the Internal Revenue Service have prompted lenders to seek other options to verify the income of mortgage borrowers. In a new request to the Treasury Department, the Consumer Mortgage Coalition suggested that a database from the U.S. Department of Health and Human Services is a viable alternative to the IRS system.
Walter Investment Management Corp. had hoped to emerge from bankruptcy protection by the end of January, but now has a new problem on its hands: no CEO and no guidance on when it might actually have one. At press time, the revised target date to emerge from bankruptcy was Feb. 9.
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