Acting Ginnie Mae President Michael Bright also issued a warning that expulsion from the program for “lenders who produce pools with inexplicably fast prepayment speeds” was a distinct possibility.
Under new management, the Consumer Financial Protection Bureau this week took action that may be a harbinger of a more laissez-faire approach to regulatory enforcement.
2017 has been the strongest purchase-mortgage market in years and momentum didn’t slow much in the third quarter, but the first-time buyer surge may be weakening.
It's only a matter of time before the White House officially nominates acting Ginnie Mae president Michael Bright to be the permanent head of the agency...
Despite industry worries that the struggle over the leadership of the Consumer Financial Protec-tion Bureau might derail congressional efforts to enact regulatory relief legislation, the Senate Banking, Housing and Urban Affairs Committee did just that this week, with 16 ayes prevailing over seven nays.
For the most part, the sale of bulk mortgage servicing rights has been sluggish during the fourth quarter, but dealmakers are anticipating the torpor may soon end.
Guaranteed Rate is accusing a former top executive of raiding talent at the Chicago-based firm by planning a mass exodus of key employees for a newly launched competitor across town. But Joseph Caltabiano, the company’s former senior vice president of mortgage lending, denies the allegations.
An intensive burst of lobbying helped mortgage servicers avoid adverse consequences in the tax reform bill passed by the Senate late last week. But housing-industry representatives continue to warn that the legislation would lead to home-price reductions and reduce incentives for homeownership.
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