The CHLA is renewing its call for Treasury and the FHFA to amend the preferred stock purchase agreements once again, allowing the GSEs to build capital...
In the past, the duty to serve rule has received a great deal of attention from manufactured housing executives who argue the GSEs are not purchasing enough of their loans.
In case you were unaware, Joe Garrett has never been a big fan of the CFPB, but unlike some advisors, he is willing to state his feelings on-the-record…
A coalition of financial services trade groups expressed support for the permanent extension of the one-year protection from foreclosure for service members who have just left the military. The provision under the Servicemembers Civil Relief Act will expire at the end of 2015 and revert to the original 90-day protection unless extended by legislation. Eight industry trade organizations in a joint letter urged House lawmakers to extend the provision through 2016 if they cannot make it permanent. Some service members continue to face financial hardship upon returning to civilian life, the groups noted. Slow recoveries in real-estate markets in certain areas of the country, particularly those around military bases, make it difficult for those retiring or opting out after their tour of duty is up to sell their houses. The protection becomes effective on the date the service member is ...
New foreclosure timeframes will become effective for all VA loan terminations completed on or after Jan. 4, 2016, according to a recent notice issued by the Department of Veterans Affairs. The notice provides a table of foreclosure timeframes – the number of calendar days required to complete a foreclosure – which the VA has determined to be reasonable and customary for all states. The timeframes are important in the calculation of the maximum interest payable on a foreclosure of a VA-guaranteed loan. The VA Home Loan Guaranty program offers a partial guaranty against loss to lenders who make home loans to veterans and active-duty military personnel. Agency regulations spell out the circumstances under which VA will pay loan-guaranty claims. Under VA rules, a guaranty claim can include unpaid interest for a period of up to 210 calendar days from the due date of the ...
The Federal Housing Finance Agency “should require the GSEs to be much more transparent in their risk-sharing transactions,” said the Urban Institute in a new report.
Fannie Mae and Freddie Mac sold $12.58 billion of credit risk through their popular back-end risk-transfer deals during 2015, according to a new Inside MBS & ABS tally of new issuance in the Connecticut Avenue Securities and Structured Agency Credit Risk platforms. While that was up 16.8 percent from the total for 2014, observers continue to call for more diversification in the government-sponsored enterprises’ risk-transfer activities, and greater transparency. The Federal Housing Finance Agency “should require...[Includes one data table]
Mortgage securitization rates have been moving higher in 2015 as ongoing new issuance catches up with this year’s surge in primary market originations. A new Inside MBS & ABS analysis reveals that 69.2 percent of the loans originated through the first nine months of 2015 have been pooled in residential MBS, up from the 67.8 percent securitization rate for all of last year. The mortgage securitization rate had dropped...[Includes one data table]
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