An industry source said lenders in the Riverside-San Bernardino-Ontario housing market are gearing up to petition HUD to recalculate the FHA loan limits in those areas.
Consumer advocate Ralph Nader has spent years demanding satisfaction for GSE shareholders from the Obama administration, regulators and members of Congress.
New Penn Financial accounted for almost 81 percent of mortgages included in the jumbo deal. In the past, the lender’s originations have been securitized by the affiliated Shellpoint Partners.
“It’s a utility bill refi,” said Kristian Hanelt, a senior vice president of renewable capital markets at Clean Power Finance, which provides financial services to the solar industry.
Only a handful of FIRREA cases were filed in the first 20 years after enactment of the statute. In the last two years, however, the government has aggressively used FIRREA to target financial institutions for activities related to the origination, rating, securitization and servicing of residential mortgages.
A number of structured-finance products outside of new non-agency MBS rebounded from the financial crisis, offering stronger returns than new non-agency MBS, and often with less risk. Among the myriad of products investors at the ABS Vegas conference last week said they prefer to new non-agency MBS were collateralized-debt obligations backed by trust-preferred securities, collateralized-loan obligations, commercial MBS, rail car ABS and container ABS. “There’s...
DOJ’s initial penalty calculation was based on the gross loss to Fannie and Freddie from the default of the loans, but now the government says the court should use gross gain, instead of net gain to set the maximum allowable penalty.
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