Fannie, Freddie and their regulator have been dogged in their pursuit of claims against banks that sold defective mortgages to the GSEs prior the financial crisis.
This time around, Congress is considering tapping Fannie/Freddie g-fees as lawmakers look toward an extension of unemployment benefits, which expired on December 31.
Senate Banking Committee Chairman Tim Johnson, D-SD, and Ranking Member Mike Crapo, R-ID, are drafting their own housing finance reform/GSE bill that likely will be superimposed over the Corker-Warner measure.
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."
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.
During the next 12 months, investors will have to navigate through numerous uncertainties, including all forms of policy risk: monetary, fiscal, economic and the fate of the GSEs.
In the latest year-end closeout of buyback deals before the ball drops on 2013, Flagstar Bancorp announced late Monday that it has entered into an agreement with Freddie Mac to “resolve substantially” claims that the bank sold faulty mortgage loans to the GSE between 2000 and 2008.
Fannie Mae announced Monday morning it has reached a $591 million agreement with Wells Fargo to resolve repurchase requests on certain loans originated prior to 2009.
Year-over-year through October 2013, the CoreLogic House Price Index appreciated more than 12 percent nationwide, with prices nationally now 16 percent above the low in the fourth quarter 2011, according to CoreLogic’s December MarketPulse report released Monday.