The 2008 Housing and Economic Recovery Act stipulated that the baseline limit could not be lowered when house prices were falling. And during recovery, there could be no increase until the HPI reached its previous high, in the third quarter of 2007.
FINRA made some concessions to the industry in the proposal issued in October, but many MBS traders warned of dire consequences if the proposed margin requirements take effect.
The second whole-loan securities risk-transfer transaction from Freddie Mac received a rating from Moody’s Investors Service. The rating service said the $634.64 million deal included a number of improvements compared with non-agency MBS, which have a similar structure. Much like non-agency MBS, the deal was backed by mortgages and included senior and subor-dinate tranches available for purchase by investors. The M1 tranche of FWLS 2015-SC02 ...
In the same blog post, Hsieh – who did not talk to the press about the scuttled IPO – described loanDepot as a “unicorn startup,” calling it “one of the very few success stories not from Silicon Valley.
After launching pilot programs in Detroit last year and Chicago earlier this year, the Federal Housing Finance Agency recently announced that it is significantly expanding its foreclosure prevention initiative by adding 18 new markets. The Neighborhood Stabilization Initiative gives community organizations the first opportunity to buy foreclosed properties from Fannie Mae and Freddie Mac. Beginning in December, NSI will grow to the 20 markets that suffered the most from the housing crisis. Each GSE had at least 100 real-estate-owned properties valued at less than $75,000 in each of those markets. The goal of the program is to help stabilize neighborhoods by letting local community organizations get an exclusive first look...
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