Federal Housing Finance Agency Director Mel Watt ended his first week on his new job by announcing four special advisors “to provide counsel on policy and strategic decisions” at the FHFA. Megan Moore will join the Finance Agency as Special Advisor – Intergovernmental.
When it comes to the new QM rule lenders are operating from a position of fear. You can bet that mortgage attorneys in the Washington DC area have racked up the billable hours, holding their clients’ hands and supplying legal advice as the clock strikes midnight.
MGIC's stock is trading near a 52-week high of $8.82 a share. The company, like the rest of the sector, is anxiously waiting on new capital-to-risk standards from FHFA.
If elected, Savitt hopes to serve on the House Financial Services Committee. A past annual president of the National Association of Mortgage Brokers, he formed NAIHP five years ago.
One mortgage executive had this to say about the W.J. Bradley case: “This is fascinating for the implications of whether the LO or the company owns the customer. As you know, LOs have their little black books (or thumb drives) of all their customers and their information."
A spokesman for WJB told IMF that the lender/servicer may send out an additional 2,000 data breach notifications, pending the results of a computer forensic review.
The former House Democrat has already halted – for now – certain DeMarco-era directives, including the FHFA’s December announcement of a 10-basis point guaranty fee increase.
Just how important are Fannie Mae and Freddie Mac to the revenue picture of the U.S. government? According to calculations from The Collingwood Group, a Washington-based consulting firm, GSE dividends in 2013 will be the fourth largest source of federal revenue.
Will well-known mortgage trainer Barry Habib stick with Residential Finance Corp., a company whose assets are in the process of being sold? It’s hard to say since RFC isn’t answering questions on about the firm’s future.
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