If not for the surge in originations and refi income, the delinquencies and defaults seen this spring could have caused some mortgage companies to fail, according to Federal Reserve Governor Michelle Bowman.
FHFA Director Mark Calabria and Treasury Secretary Steven Mnuchin seem to have different motives to take the GSEs out of conservatorship. However: Will they be able to reach an agreement soon?
Although FHFA claims to have taken steps to improve its supervisory prowess, no signs of those improvements are apparent, the agency OIG said in its semi-annual report to Congress.
The industry was not expecting the FHFA to give ground on 4% Tier I capital for Fannie and Freddie. Now for the big question: What does it mean for lenders?
The CEOs of Freedom Mortgage and Caliber Home Loans said nonbanks, which face heavy criticism from regulators, don’t necessarily have a riskier business model than depositories.
Andrew Bon Salle, who runs Fannie’s single-family business, will be leaving later this year. Also, several other key GSE executives are planning departures, according to former and current staff.
Industry attorneys said a Biden administration may run into legal hurdles if it wants to make substantial changes to the proposed QM rule. The bureau may have to restart the process from scratch.
RSS