Fannie Mae reported Tuesday that the GSE issued $10.4 billion of multifamily MBS in the first quarter of 2015, primarily through its delegated underwriting and servicing program.
FFIEC Issues Revised Interagency Examination Procedures for Compliance with the TRID. The Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council recently put out new interagency examination procedures for the Truth in Lending Act (TILA), as implemented by Regulation Z, and the Real Estate Settlement Procedures Act (RESPA), as implemented by Regulation X. These procedures reflect CFPB amendments to Regulations Z and X published in the Federal Register in December 2013 and February 2015. Most of the changes to the procedures relate to the integrated mortgage disclosure requirements under TILA and RESPA, commonly referred to as the “TRID” requirements. Office of the Comptroller of the Currency Bulletin 2015-27 makes available on the OCC website the revised interagency ...
The timing of any hike in interest rates from the U.S. central bank has grown more uncertain in recent weeks, amid signs of significantly slower economic growth – a reality that was reflected in the Federal Reserve Open Market Committee reaffirming the status quo after its two-day meeting in Washington, DC, concluded mid-week. Hours before the FOMC’s statement was released, the Commerce Department announced that first-quarter gross domestic product slowed to a crawl of just 0.2 percent, compared with a 2.2 percent increase in the fourth quarter. “Information received since the FOMC met in March suggests...
Wells Fargo and JPMorgan Chase account for the vast majority of bank holdings of negative amortization mortgages, according to a new ranking and analysis by Inside Nonconforming Markets. Bank exposure to negative amortization mortgages continues to dwindle as originations of such loans largely stopped after the financial crisis. Large chunks of the holdings at Wells and Chase are due to acquisitions of Wachovia and Washington Mutual, respectively ... [Includes one data chart]