In a past audit, the OIG criticized the FHFA for lacking a “sufficient number of examiners.” In the new budget, the FHFA plans to increase its examinations head count to 275 from 248 in FY 2015.
Although the home foreclosure inventory is falling compared to a year ago, some metropolitan areas are seeing an increase in new filings, including Atlantic City.
The nation’s largest mortgage investing REIT, Annaly Capital Management, reported a $627 million loss in the third quarter compared to a $900 million profit in 2Q.
A helpful piece of advice: MSA participants should avoid entering into agreements that provide for exclusivity, such as being named a preferred lender.
Nobody likes getting a mortgage, but interactive technology – if implemented correctly – can make the process significantly more transparent and less stressful, industry experts say. There is an opportunity in technology to make the system more transparent and help educate the next generation of homeowners, as well as minority groups, said Robert Greenbaum, director of communications and marketing at Fannie Mae, during a panel session at the annual convention of the Mortgage Bankers Association. “They aspire...