FHFA Settles Sexual Harassment Case Involving Former Director. Details Lacking September 27, 2019 Dennis Hollier Neither Simone Grimes nor FHFA released the details of the settlement. Mel Watt, whose term as director ended in January, has not commented.Read More
What We’re Hearing: The (Mortgage) IPO Dream / Uber and Lyft May Never Earn a Dime / GSE Legislation During the Lame Duck Session? / Cashing out of Fannie and Freddie / The New Wells CEO: No Mortgage Experience September 27, 2019 Paul Muolo One of the biggest speculative bets ever made in mortgage stocks is going on right now: Fannie and Freddie...Read More
HMDA: Mixed Trends in Denial Rates for Jumbos September 27, 2019 Brandon Ivey Quicken Loans denied 29.6% of applications for jumbo purchase-mortgages in 2018 and denied nearly half of the jumbo refi applications it received.Read More
FHFA Chief Calabria Keeps a Close Watch on G-Fees, More September 27, 2019 Paul Muolo In late 2018, the FHFA published a report on g-fees paid from 2013 to 2017, stratifying it by five different lender cohorts…Read More
Caliber Stocks MBS with Non-QM Jumbos for Affluent Borrowers September 27, 2019 Brandon Ivey Caliber’s Elite Access program is aimed at borrowers who could not qualify for a jumbo mortgage at a bank.Read More
Plenty of Investors Saddle Up to the MBS Bar as the Fed Cuts Back September 27, 2019 John Bancroft Recent Treasury Department figures show foreign holdings of agency MBS grew by $42.9 billion from March to June… Read More
Short Takes: Judging GSE Pilot Programs / Freddie Mum on the Exact Size / Warehousers Have Entered the Sector / Significant Changes at FHA Unlikely / Pointillist? September 26, 2019 Paul Muolo Freddie Mac declined to say how much credit it had extended under the pilot, though a spokesman said it was under $1 billion. Read More
Reverse Mortgages Under the CFPB Spotlight Due to APR Issues September 26, 2019 Yemeng Yang The new CFPB report covers findings from examinations completed between December 2018 and March 2019. Read More
Rising Real Estate Values Boost Home Equity: CoreLogic September 26, 2019 Yemeng Yang Rising real estate values translate into more home equity for consumers, but that doesn’t mean they will tap it…Read More
Servicing Tied to MBS Up in 2Q19. Bank Portfolios Grow September 26, 2019 John Bancroft Combined, Fannie Mae, Freddie Mac and Ginnie Mae accounted for 63.0% of total home mortgage debt outstanding at the end of June. Read More