Since 2012 Fannie Mae and Freddie Mac have provided the government with a hefty amount of funds thanks to the Treasury sweep of GSE profits, which could be a perverse disincentive to move forward on housing finance reform. The two government-sponsored enterprises expected to pass along a combined $9.97 billion during the first quarter of 2017, the net profits they earned in the fourth quarter that exceeded the $600 million cap on retained capital. That brings...

With House Republicans set to resume work on legislation to overhaul provisions in the Dodd-Frank Act, mortgage lenders testified at a hearing this week calling for changes to standards for qualified mortgages. “As a result of some of the constraints in the QM definition, many borrowers who should qualify for a QM are unable to access safe, sustainable and affordable mortgage credit,” said David Motley, president of Colonial Companies and chairman-elect of the Mortgage Bankers Association. He made the comments at a hearing by the House Financial Services Subcommittee on Financial Institutions and Consumer Credit. The MBA urged...

Stop the presses: a consensus on GSE reform is here! Really?

A former Fannie executive said it was always his belief the GSE charter allowed for multifamily financing but the idea was to fund “vertical” homes and not “horizontal.”

The portfolio QM proposal is supported by many Republicans along with some Democrats...

The Trump administration appears to be in no rush to fill key posts at HUD, Ginnie Mae and FHA...

Former CFPB attorney Richard Horn believes the executive order applies to the CFPB because it refers to agencies under the Administrative Procedures Act…

At one point, Ocwen's management said various monitors were costing the company upwards of $80 million a year...

LO automation could be complicated by compliance. What if there’s a RESPA violation and charges are filed? Who goes to prison: the computer or the supervisor of the computer?...

As different as the presidential administrations of Barack Obama and Donald Trump may appear, one thing they have in common is an apparent unwillingness to get into the statutory weeds when it comes to the interpretation and enforcement of the Real Estate Settlement Procedures Act. Earlier this month, the Department of Justice under the Trump administration, just as it had under the Obama administration, side-stepped the RESPA issues associated with the long-running battle between PHH Mortgage and the CFPB.In its amicus brief with the U.S. Court of Appeals for the District of Columbia Circuit, the government said simply: “The United States takes no position on the statutory issues in this case….” For the Trump administration, the case comes down ...