Freddie Mac CEO Donald Layton will retire in the second half of next year, the GSE announced last week. This comes six weeks after Fannie CEO Timothy Mayopoulos announced his departure from the GSE. While Layton plans to be around through midyear 2019, Mayopoulos plans to leave his post before 2018 ends. This leaves both GSEs looking for replacements. Freddie’s board has started its succession plan to consider internal and external candidates. The GSE named David Brickman, executive vice president and head of Freddie’s multifamily business as a possibility.

The Federal Housing Finance Agency should not have approved Fannie Mae’s July request to sell its three buildings in Northern Virginia and consolidate to newly constructed office space, according to a new management alert from the FHFA Office of Inspector General.The report, published late last week, questioned the decision to allow Fannie to consolidate and relocate to newly leased space, built out to specifications. The IG noted that Fannie failed to demonstrate that the move would be in the best interest of taxpayers. In fact, the report said four officials in the FHFA’s Division of Conservatorship told the IG that Fannie faced no “action forcing” event that required it...

The boards of Fannie Mae and Freddie Mac have begun their searches for new CEOs but the odds of finding successful candidates quickly are extremely low, according to industry stakeholders.

So far, the final rule has not been delivered for OMB review, a process that in the past has sometimes taken months to complete.

Mortgage lenders generated an estimated $54.0 billion of new home-equity loans during the second quarter, up 18.7 percent…

The number of mortgage lenders using technology from Blend has quadrupled in the past year…

The pending deal marks the second acquisition in Stearns’ new Preferred Partner Platform initiative…

Home-equity lending accelerated in the second quarter of 2018, although the outstanding supply of home-equity lines of credit and closed-end seconds continued on its years-long downward trajectory, a new Inside Mortgage Finance analysis reveals. [Includes three data charts.]

The nation’s warehouse providers ended the second quarter with $67.0 billion of commitments on their books, a 6.3 percent sequential gain and an increase of 8.1 percent from a year ago, according to exclusive survey figures from Inside Mortgage Finance. [Includes one data chart.]

Silvergate Bank is actively providing warehouse lines of credit to non-QM lenders and we understand that Comerica is now sticking its toe in the water…