In a new investor update filed with the Securities and Exchange Commission, megaservicer Mr. Cooper (Nationstar Mortgage) says it has a tangible net worth ratio of 13.2%, as measured in accordance with standards set by the Federal Housing Finance Agency...
It stands to reason that as Fannie Mae and Freddie Mac continue to shrink, they’ll need fewer employees, right? But what about their regulator, the Federal Housing Finance Agency? If Fannie and Freddie are smaller, shouldn’t the FHFA be smaller?...
H.R. 299 eliminates the cap on VA home loans, which means that qualified homebuyers can now borrow above the agency’s standard loan limit of $484,350 for most counties in 2019 with no downpayment requirements.
Annaly and Barclays also like the idea of replacing Fannie and Freddie with several smaller MBS guarantors. At March 31, Annaly owned roughly $103 billion worth of agency mortgage-backed securities...
Of course, the whole point is moot though, isn’t it? Fannie and Freddie continue to be wards of the federal government. If they fail to meet a capital test, what’s the worst Uncle Sam can do? Put them in conservatorship? They’re already there...
“The importance in having a well-functioning, transparent and liquid non-QM market is arguably growing by the day,” according to analysts at Keefe, Bruyette & Woods.
In May of this year Blankenstein resigned from the CFPB, where he served as associate policy director overseeing supervision, enforcement and fair lending. His past writings came to light in the fall of 2018.
A few years back, loanDepot was contemplating going public and even issued an S-1 with the SEC. The deal fell apart because the lender was displeased with the valuation calculated by its underwriters. But thanks to the Trump trade wars, a slowing world economy and more, rates are falling and originations are looking up. Perhaps, the mortgage IPO window is starting to open again?
Former FHA chief Dave Stevens: “This settlement marks an end to the era of overly aggressive legal action using FCA as a means to leverage lenders into large settlements.”
Better.com’s other major backer is Citigroup. Better recently hired industry veteran William Buell to head the nonbank’s B2B platform. Buell has a deep resume, including stints at Bank of America, JPMorgan Chase and FirstKey…
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