Rep. Maxine Waters, D-CA, announced an agreement to fix unintended consequences (significantly higher premiums) from the Biggert-Waters Flood Insurance Reform Act.
As directed by the Federal Housing Finance Agency, Fannie Mae and Freddie Mac this year established a three-year sunset period for most reps and warrants on loans with perfect payment histories.
The survey of almost 2,000 real estate agents found that lenders routinely extend their deadlines due to loan processing issues, causing problems for homebuyers
Through September $2.1 billion in originations by First Republic were included in jumbo MBS this year. The loans accounted for 17 percent of all non-agency jumbos securitized, according to exclusive figures compiled by Inside Nonconforming Markets.