Mel Watt continued: “We, therefore, contemplate that going forward enterprise dividends will be declared and paid beyond the $3 billion capital reserve in the absence of exigent circumstances.”

Beginning in tax year 2018, a deduction won’t be allowed for interest paid on home-equity loans unless proceeds from the loan are used to improve the residence…

While combined GSE servicing still accounted for a hefty 44.9 percent of single-family mortgages, it has continued to drift lower over the course of 2017…

FHFA's Mel Watt: "While it is apparent that a draw will be necessary for each enterprise if tax legislation results in a reduction to the corporate tax rate, FHFA considers the $3 billion capital reserve sufficient to cover other fluctuations in income in the normal course of each Enterprise’s business.”

Sierra Pacific Mortgage, Folsom, CA, is launching a new builder division...

Bill Banfield, EVP of capital markets for Quicken, said he’s noticed an increase in the use of the conventional low-downpayment programs this year….

Movement was founded in 2008 and has grown from four employees to more than 4,300…

Meanwhile, Quicken owner Dan Gilbert recently broke ground on a new skyscraper in downtown Detroit, which will cost roughly $900 million.

Marc Savitt, who runs The Mortgage Center, Martinsburg, WV, called the technology snafu a “big deal,” adding: “It’s taking weeks to receive we got in days.”

The number 15th ranked Fairway Independent Mortgage wouldn’t provide a hiring estimate but CEO Steve Jacobson said, “We’re always open minded about opportunities.”