Some history: When GMAC imploded earlier in the decade, some of its GSE servicing rights were sold to Ocwen. Ocwen eventually sold those contracts to Nationstar.
Officials from the Department of Housing and Urban Development and Fannie Mae made lender-friendly announcements this week at the Mortgage Bankers Association’s annual convention, while Melvin Watt, director of the Federal Housing Finance Agency, focused on some issues that he acknowledged might not be popular with lenders. HUD Secretary Ben Carson said the department is working to make lenders more comfortable originating FHA mortgages. “We have heard ...
Despite opposition from industry members worried about legal implications, the Federal Housing Finance Agency decided to add a language-preference question to a redesigned loan application that will be required for Fannie Mae and Freddie Mac loans in February 2020. On Oct. 20, the FHFA announced that the question will be added to the loan application to enable borrowers who prefer to communicate in a language other than English to identify that language. The Fannie/Freddie regulator also ...
Cowen: “We continue to believe the Senate Banking Committee must release a legislative plan in 2017 for Fannie and Freddie if it is to be enacted in the 115th Congress.”
MBA chief Dave Stevens: “What happens if the president nominates a new [FHFA] director who thinks the government role in mortgage finance is too large and wants to scale it back?"
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