It’s safe to say that many mortgage CEOs and their attorneys are cheering on Quicken. It’s not often that a lender fights back this strong against the government in an FHA.
Rising interest rates – as long as they don’t rise too much – could spark a boom in servicing sales, predicted Tom Piercy of Incenter Mortgage Advisors.
-“While plaintiffs did not begrudge defendant a reasonable time to review the court’s decision, it is apparent that the defendant has now settled on a legal strategy but is unwilling to disclose that strategy to the extent doing so would require it to produce documents prior to the D.C. Circuit’s anticipated ruling,” Fairholme argued in court papers.
The Federal Housing Finance Agency determined that for 2015 Fannie Mae and Freddie Mac did not meet all of their low-income and very low-income home-purchase goals, according to the FHFA’s preliminary annual housing report released in late October. Fannie met all of its goals in 2014 but this is the second year that Freddie fell short of meeting the same goals. Under the GSEs’ affordable housing goals, low-income is for home-purchase mortgages to families with incomes no greater than 80 percent of the area median income, and the very low-income home- purchase goal is for families with incomes no greater than 50 percent of AMI. The low-income home-purchase goal was 24 percent and Freddie ended 2015 at 22.3 percent.
Second-ranked AGNC Investment Corp. – formerly American Capital Agency Corp. – reported a 2.2 percent increase in its MBS holdings under a new management structure…
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