The Consumer Financial Protection Bureau has been authorized to hire an additional 20 full-time employees, most of them attorneys. The move comes as the bureau gears up for more vigorous enforcement activity, especially against repeat offenders.
About half of the FHFA officials who were supposed to review SEC filings of Fannie Mae and Freddie Mac for the second quarter of 2021 failed to appropriately certify accuracy.
While some of the White House’s latest measures are funded through previous legislation and codified into law, several actions rely on as-yet-unfunded proposals.
With some mortgage companies trading below their liquidation value, is now the time to stage a takeover? It depends. Meanwhile, former FHFA Director Mark Calabria this week broke his silence on what may lie ahead for Fannie Mae and Freddie Mac.
It’s been a difficult couple of years for USAA, losing money and getting sanctioned by regulators. The latest development: The bank is selling the ownership rights to its MSRs.
While the Federal Reserve intervened in the mortgage market to lower rates, lenders did not pass along all the savings to homebuyers, the former Freddie chief said.
Trade groups representing smaller nonbank seller/servicers say it’s the larger nondepositories, with nearly 70% of the market, that pose the biggest risk to Fannie and Freddie.
Rather than encouraging lending in flood-prone areas, mandatory flood insurance requirements limit mortgage originations for borrowers with low income or low credit scores, researchers at the NY Fed found.
The Biden administration’s move to reduce the impact of medical debt from consumer credit reporting will make it easier for some homebuyers to qualify for government-backed mortgages.
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