Based on current trading values, Fannie common now has a market capitalization rate (share price multiplied by number of shares) of $28.01 billion. Freddie common is valued at $15.14 billion.

Some banks have reclassified mortgage loan officer duties as a way to avoid paying overtime, IMFnews was told.

Lenders and servicers are likely to see some regulatory relief in the coming years though federal support for the housing market could also be reduced, according to officials at the Mortgage Bankers Association. The MBA’s Mortgage Action Alliance recently hosted a call with MBA officials providing projections for how the Trump administration and Republican control of Congress will impact the mortgage industry. “Things that were deemed impossible before the election are now in play,” said Meghan Sullivan, the MBA’s Senate Republican lobbyist. She said...

Steven Mnuchin, President-elect Donald Trump’s choice to be the next Treasury secretary, startled financial markets this week by indicating he would act quickly to bring Fannie Mae and Freddie Mac out of government conservatorship. “We’ve got to get Fannie and Freddie out of government ownership,” Mnuchin said during an interview with Fox News. “It makes no sense that these [two] are owned by the government and have been controlled by the government for as long as they have. In many cases, this displaces private lending in the mortgage markets, and we need these entities to be safe.” Mnuchin, a former Goldman Sachs executive who bought the failed IndyMac Bank and resurrected it as OneWest, continued...

Warehouse providers ended the third quarter with $58.0 billion of commitments on their books, a modest improvement over the prior period and a sign that nonbanks still hunger for residential credit. Compared to the same quarter a year ago, warehouse commitments increased an impressive 23.4 percent, according to survey figures compiled by Inside Mortgage Finance. That’s the good news. Now comes the bad: with interest rates rising since the election, warehouse managers are voicing their concern about what may lie ahead, namely lower originations. “Right now it feels...[Includes one data table]

Despite the improvement in gripes filed, mortgage complaints are among the top three areas where consumers feel they are being taken advantage of…

The mortgages were originated by Lone Star affiliate Caliber Home Loans, but also LendSure Mortgage and Sterling Bank & Trust.

As IMFnews went to press Wednesday, Mnuchin said in a Fox TV interview that resolving Fannie and Freddie will be a top priority.

In case you haven’t noticed: the national debt is ready to crack the $20 trillion mark – almost twice the dollar volume of outstanding residential debt in the United States.

A reason to worry: several federal consumer financial protection laws give direct enforcement authority to the states…