FHFA Director Mark Calabria walked back the idea of using a consent decree as part of the agency’s plan to recap and release Fannie and Freddie from conservatorship.
New Jersey clarified that investors in mortgage servicing rights must obtain a “servicer” license in the state even if they do not handle the monthly processing chores.
Some trade groups urged the Supreme Court to pursue a narrow remedy if the CFPB’s structure is found unconstitutional, in order to prevent market disruption.
Freddie Mac, following in the footsteps of Fannie Mae, is offering buyouts to a portion of its workforce. A byproduct of the recap-and-release plan? It certainly looks that way.
The proposed changes to the Community Reinvestment Act are intended to prevent banks from receiving credit on mortgages to wealthy people living in low-income areas.
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