The Federal Communications Commission has refused an industry request to exempt mortgage servicing calls from prohibitions against the use of “robocalls,” or automated dialing and calling systems, to contact delinquent borrowers on their cell phones. In a long-awaited final rule limiting the way servicers can collect on student loans, mortgages and other debts owed to the federal government, the FCC said it would not make a decision on whether the statutory exemption from the Telephone Consumer Protection Act’s “prior express consent” requirements applies to Fannie Mae and Freddie Mac loans or their servicers. The TCPA and FCC regulations require...
Some 61.0 percent of loans securitized by Ginnie Mae in the first half of 2016 were purchase mortgages, compared to 46.2 percent for Fannie Mae and Freddie Mac…
The private MI share of new primary insurance rose 6.0 percentage points to 37.8 percent during the second quarter, while the FHA share fell 5.4 percentage points to 34.4 percent…
Despite the FHA loss of market share to the private mortgage insurance business in the second quarter of 2016, stakeholders continue to believe that an FHA premium reduction is not likely to occur any time soon. Analysts with Keefe Bruyette & Woods said that, while investor concern about an FHA price cut remains elevated, the likelihood of a cut “is not very high” and the impact would be limited since the FHA is likely to cut rates only by about 30 basis points before hitting the ...
The IG suggested that state HFA downpayment assistance programs are no different than the seller-funded DPA arrangements that led to huge losses for the FHA…
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