cchappell@imfpubs.com The Community Home Lenders Association wrote the Federal Housing Finance Agency Thursday morning asking Director Mel Watt to investigate and put an end to mortgage insurers offering better prices to lenders based on their size or volume when it comes to government-sponsored enterprise loans. MI pricing disparities have become more prevalent and the CHLA said it’s caused a growing concern among their members because it puts small lenders and their borrowers at a disadvantage. As a…
The Federal Reserve Bank of New York said as the U.S. considers reforming the housing-finance system it should take a look at what can be learned from other countries, in particular, Denmark.
By the end of this year, Fannie Mae and Freddie Mac plan to create a clearinghouse of resources such as translated mortgage documents to help borrowers who have a limited proficiency of English.
Goldman Sachs is approaching $1 billion in credit towards reaching a $1.8 billion consumer-relief obligation under two mortgage-related settlement agreements with the Department of Justice and three states, including New York, Illinois and California.
Fannie disclosed the single-security “may adversely affect our financial results and contribute to declines in the liquidity or market value of our MBS.”
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