Former Fannie Mae executive and critic of the government-sponsored enterprises’ credit-risk transfer programs, Tim Howard, said on his blog this week that CRTs only help “sustain what has become a very profitable program for Wall Street firms and capital market investors.”
The mortgage servicing business racked up its third consecutive year of steady growth in 2017, following seven years of erosion, according to a new Inside Mortgage Finance analysis and ranking.
The IRS recently formed a working group comprised of industry participants to address problems with the Income Verification Express Service, according to the Mortgage Bankers Association.
Hensarling is chairman of the House Financial Services Committee, which means any Fannie Mae/Freddie Mac reform bill must first go through his panel, whether he’s the author or not.
Commercial banks and savings institutions serviced $3.621 trillion in home loans for other investors at the end of 2017, according to a new Inside Mortgage Trends analysis of call-report data. After a brief spurt higher in the third quarter, bank servicing-for-others was down 0.8 percent during the final three months of the year. The industry’s SFO balance had been dropping steadily since the end of 2010 – with declining balances in 20 of 22 quarters – as many ... [Includes one data chart]
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