Lenders expressed support for the FHA’s new interim policy requiring a second appraisal for home-equity conversion mortgages when the initial property valuation may be inflated. The new appraisal policy for HECMs took effect on Oct. 1 and will be in place through Sept. 1, 2019. FHA will review the policy to determine whether to renew it beyond fiscal year 2019, said FHA Commissioner Brian Montgomery during a press briefing this week. FHA will perform a collateral risk assessment of ...

With just three months left in Federal Housing Finance Agency Director Mel Watt’s term, it’s still uncertain whether he will ride out his appointment until January 6 as planned or resign because of sexual harassment allegations. Last week during a House Financial Services Committee hearing, lawmakers heard from both Watt and his accuser, Simone Grimes, about harassment that she said began in 2015. At the hearing, Watt fought back against the allegations and questioned the committee’s ...

Observers say the Consumer Financial Protection Bureau has changed its approach in fighting against lending discrimination under a new fair lending chief who has recently drawn heavy criticism for his controversial comments. “In the recent past, [the CFPB is] probably more supervision-oriented than enforcement action-oriented,” said Marshall Bell, a partner at Buckley Sandler, who advises companies on fair lending enforcement actions by the CFPB. “There has been a greater ...

The major driver was a 16.8 percent jump in Fannie Mae issuance…

This executive, like many interviewed, called it an example of charter creep. Freddie and the FHFA think otherwise…

Federal regulators have changed their tone under President Trump, according to participants in the MBS and ABS markets.

As a result, the nonbank share of new production edged up to 53.9 percent, its highest level since the second quarter of 2017.

In the New Rez deal, the mortgage have seasoned for more than 13 years, on average…

Rob Zimmer of CMLA: “The organization [Brookings] is now pushing a deeply flawed report that uses veterans and active-duty personnel as pawns…”

CFPB Director Mulvaney: “I will not be undoing the changes. I recognize this is not the result that some of you may have wanted. But I stand by my decision and we will proceed accordingly.”