Among the top 20 lenders in the nation, PennyMac and Nationstar had the highest growth rates, according to new figures compiled by Inside Mortgage Finance.
During the debate, Committee chairman Jeb Hensarling accused Democrats of protecting the status quo by defending the current Fannie and Freddie dominated regime.
NAR's oposition falls primarily in two areas: The PATH Act does not include an explicit federal guaranty and the bill dramatically restructures the FHA.
In general, mortgage-related earnings were strong at the nation's banks in the second quarter, but clearly earnings "leakage" is underway. And yes, gain-on-sale is starting to slip.
With interest rates increasing, some new borrowers have turned to adjustable-rate mortgages. Industry analysts expect the ARM share of originations will increase, but limited product offerings and tight underwriting standards will likely prevent the ARM originations from reaching levels seen during the previous mortgage boom. The record low interest rates on fixed-rate mortgages in recent years have given borrowers few reasons to take ARMs. Interest rates on mortgages have increased significantly recently ...
A Manhattan federal judge earlier this month dismissed a class-action lawsuit against Standard & Poor’s Financial Services after finding no evidence that the rating agency defrauded investors when it gave a favorable rating to Fannie Mae stock prior to the financial crisis.The suit, filed in December 2012 on behalf of potentially hundreds of thousands of investors who bought stock in an offering by Fannie in May 2008, four months before the GSE was taken over by the government, alleged that S&P knowingly misrated Fannie’s stock. Valued at about $25 per share when it was issued, the stock dropped to about $3 per share after Fannie’s government conservatorship began in September 2008.
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