The single security initiative and issuance of the first uniform MBS are on track for implementa-tion and issuance in the second quarter of 2019 and the government-sponsored enterprises are taking steps to make sure the market is ready, according to a progress update released this week by the Feder-al Housing Finance Agency.
Now comes the big question: Why is the president of the United States weighing in on a bank regulatory issue? Then again, it’s Donald Trump. Mortgage ramifications? Stay tuned…
The conforming loan limit will increase again in 2018, prompting some pushback from supporters of the non-agency market. The conforming loan limit for one-unit properties in 2018 will be $453,100, up 6.8 percent from the current limit. For high-cost areas, the loan limit will be as high as $679,650 in 2018, up from $636,150 this year. The limits apply to acquisitions of mortgages by Fannie Mae and Freddie Mac, and annual adjustments are based on a house-price index ...
Housing-finance reform legislation in Congress will likely include a government guarantee for mortgage securities backed by conventional home loans after a concession this week by Rep. Jeb Hensarling, R-TX. The chairman of the House Financial Services Committee has long pushed to wind down Fannie Mae and Freddie Mac, removing the government guarantee associated with the government-sponsored enterprises. “I continue to believe that a government guarantee in ...
Congress on Thursday passed a stopgap-spending bill to prevent a potential government shutdown and to give lawmakers time to negotiate crucial issues. The House voted 235-193 to pass the measure. A short time later, the Senate quickly approved it 81-14. The temporary spending bill will keep the government running through Dec. 22. The continuing resolution or CR, that has kept the government open would have expired on Dec. 8. Both the House and Senate are scheduled to adjourn on Dec. 15. Congress will need to pass a final appropriations bill or another continuing resolution to keep the government operating after Dec. 22. Despite differences over tax reform, FY 2018 budget, immigration, health care and other issues, lawmakers do not want a shutdown, mortgage industry sources said. Republicans, in particular, hope to enact their $1.5 trillion tax package by Christmas. On the other hand, ...
The Mortgage Bankers Association has raised concerns that new technology projects at Fannie Mae and Freddie Mac could infringe on the primary market – taboo territory for the two government-sponsored enterprises.
Servicing income rose 1.5 percent during the third quarter, although five of the 12 companies reported declines and one of them – PHH Mortgage – posted a loss.
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