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Servicers Grapple with Aftermath of Hurricane Ida

September 3, 2021
Monica Hogan
Earlier in the week, CoreLogic estimated a loss of between $27 billion and $40 billion because of damage to property, including insured and uninsured residences and commercial structures...
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Short Takes: FTC Has Some Questions for Invitation Homes / Stock Price Doing Just Fine / AO Busy Opening New Branches / A Non-QM Rush? / Publishing Break

September 3, 2021
The FTC has some questions for SFR giant Invitation Homes. Details? None...
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FHLBs Bristle at FHFA Policy on Executive Pay

September 2, 2021
Dennis Hollier
In its comment letter, FHLB San Francisco essentially said: None of your business.
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Cadence Bank Settles With DOJ, OCC Over Redlining

September 1, 2021
Monica Hogan
Cadence Bank CEO Paul Murphy said the company “believes that at all times it acted in compliance with our nation’s fair lending laws.”
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FHFA Joins Administration Efforts to Increase Affordable Housing Supply

September 1, 2021
Dennis Hollier
The FHFA wants to increase the amount of cash Fannie and Freddie can invest in the low-income housing tax credit market to $850 million each from $500 million...
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Moody’s Highlights the Strengths/Weaknesses of Nonbank Mortgage Firms

September 1, 2021
Paul Muolo
In a new report, the rating service notes the “extensive” MSRs of nonbanks “often make the quality of their capital much weaker than that of banks.”
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FHFA Fills Key Vacancies, As Thompson Taps Hill, Private Sector

August 31, 2021
Dennis Hollier
Thrift takes over at Congressional Affairs after 15 years as a House staffer, including almost six years in Rep. Blumenauer’s office.
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The Early Take: Ida Puts Nearly One Million Homes at Risk of Storm Surge Damage

August 30, 2021
Monica Hogan
Fannie Mae said its mortgage servicers are authorized to offer payment forbearance for up to 90 days to those impacted by Hurricane Ida, even if they don’t hear from the homeowner — that is, if the servicer believes the homeowner was affected by the disaster.
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Former GNMA President Tozer Urges White House to Pick a GNMA Chief (Now)

August 27, 2021
Paul Muolo
Some servicing brokers have suggested to IMFnews the RFI, in some cases, has caused buyers of Ginnie servicing rights to reduce the value of their bids.
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FHFA Directs FHLBs to Plan for Agency Prepayments

August 25, 2021
Brandon Ivey
In a recent advisory bulletin, the regulator directed the FHLBs to limit the size of their exposure to CMBS issued by Fannie Mae and Freddie Mac, and to ensure proper diversification of their portfolios.
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