The FHFA noted that if another credit scoring model is introduced, the entire mortgage finance industry will incur increased operation and transition costs…
Fannie Mae and Freddie Mac likely will post healthy combined earnings for the fourth quarter in the range of $4.0 billion to $5.0 billion, according to an analysis by Inside Mortgage Finance. And un-der a surprise revision to their conservatorship terms, they’ll likely be able to keep a good deal of it.
Ginnie Mae remained the fastest-growing component of the single-family servicing market dur-ing the third quarter of 2017, expanding at roughly twice the speed of the overall market, according to a new Inside Mortgage Finance ranking and analysis.
Guaranteed Rate, long the subject of sale rumors, has agreed to sell a chunk of the company to private equity firm Thomas H. Lee Partners, fueling speculation that in time the rest of the nonbank might be placed on the auction block.
The U.S. Court of Appeals for the Seventh Circuit has joined four other circuits in raising the bar for arguing government cases under the federal False Claims Act, potentially making it harder for the government or whistleblowers to pursue such claims against FHA lenders.
Fannie Mae and Freddie Mac are ramping up efforts to support the affordable housing market by financing manufactured housing loans titled as personal property and developing new financing to re-habilitate aging properties.
State regulators are increasingly requiring investors in mortgage servicing rights to get servicer li-censes even if they don’t perform any loan administration functions, according to industry lawyers.
New York financial services regulators have ordered PHH Mortgage to pay $119,000 in penalties for failing to maintain a vacant and abandoned property in violation of state’s “zombie” foreclosure law.
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