An Arizona court is expected to rule soon on whether to approve a proposed asset and stock purchase agreement worth up to $267 million between the appointed receiver of PMI Mortgage Insurance Corp. and private-equity investor Arch Capital.
The Structured Finance Industry Group formed as a non-profit company about a month ago and is working to set up an infrastructure to compete with the American Securitization Forum. The group said its initial efforts will focus on hiring an executive director, advocacy and arrangements for an industry conference. The SFIG was formed by major securitization industry players frustrated with the governance of the ASF. While the SFIG has been careful not to publicly compare itself with the ASF, three of the SFIG’s four initial officers were previously board members of the ASF and the group shares a number of goals with the ASF. Reginald Imamura was named...
Fannie Mae received high, but not quite perfect, marks from the Federal Housing Finance Agency in its compliance with the FHFA’s Conservatorship Scorecard.
The Conference of State Bank Supervisors is calling upon the Consumer Financial Protection Bureau to adopt a petition process to define “rural” counties as the bureau prepares to implement balloon “qualified mortgage” and escrow requirements for rural lenders.
Profits on originations by independent mortgage banks and mortgage subsidiaries of chartered banks declined in the fourth quarter of 2012 compared with the previous quarter, according to the Mortgage Bankers Association.
Fannie Mae and Freddie Mac suffered lower losses on their nonprime mortgage holdings in 2012 compared with previous years as mortgage performance has stabilized and investor demand for vintage non-agency mortgage-backed securities has increased.
Fannie Mae said Tuesday that the GSE expects to remain profitable “for the foreseeable future” after posting fourth quarter 2012 earnings of $7.6 billion and annual net income of $17.2 billion, the best quarterly and yearly showing in the company’s history.
Home loan-related consumer delinquencies, including those having to do with home equity lending, dropped across the board in the fourth quarter, the first time in a year, according to new data released Tuesday by the American Bankers Association.
Twenty state regulators adopted uniform tests for mortgage loan originators on Monday, easing compliance for MLOs doing business in multiple states. State testing has been required since 2009 due to the Secure and Fair Enforcement for Mortgage Licensing Act.
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