Some 1,348 loans will be included in the issuance, divided nearly evenly between jumbo mortgages and loans eligible for sale to the government-sponsored enterprises.
The 4,710 small mortgage lenders wouldn’t have to report new data points sought by the Consumer Financial Protection Bureau for originations in 2018 and beyond, according to an analysis by Inside the CFPB.
Proposed changes to the Home Mortgage Disclosure Act have become a key flashpoint of controversy in the advancing effort to reform the Dodd-Frank Act. The Senate last week passed legislation that would exempt depository institutions that have relatively small mortgage operations from new HMDA disclosure requirements – and some existing ones – that were mandated by the Consumer Financial Protection Bureau. The expanded HMDA reporting regime is taking effect for mortgage (include one data chart) ...
Hensarling is chairman of the House Financial Services Committee, which means any Fannie Mae/Freddie Mac reform bill must first go through his panel, whether he’s the author or not.
Fannie Mae and Freddie Mac both saw significant declines in the volume of defective loans that sellers had to repurchase from mortgage-backed securities pools last year, according to a new Inside The GSEs analysis. Mortgage sellers in 2017 repurchased – or made other indemnifications for defects – for just $973.5 million of single-family loans from Fannie and Freddie MBS. It was the lowest annual total since the two GSEs began filing quarterly repurchase disclosures with the Securities and Exchange Commission back in 2012. Buyback volume fell 11.6 percent from the 2016 total, including an 11.4 percent drop from the third to the fourth quarter of last year.
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