Fannie Mae and Freddie Mac mortgage-backed securities accounted for 74 percent of combined FHLB MBS portfolios in the second quarter, up 2 percent from 1Q13.
In a letter dispatched to CFPB Director Richard Cordray, MBA stresses that mortgage firms are not being allowed enough time to properly comply with the January 2014 implementation of the bureau’s many new rules.
As reported by IMFnews late last week, Stewart Title is buying Allonhill, a due diligence firm based in Denver. Meanwhile, look for billions of dollars in NPL sales soon.
The NCUA has filed lawsuits against several investment bankers, including Barclays Capital, Credit Suisse, Goldman Sachs, JP Morgan Securities and UBS Securities alleging securities law violations in the sale of MBS.
FHFA has been analyzing approaches for reducing Fannie Mae and Freddie Mac loan limits across the country, "and any such change would be announced with adequate advance notice for implementation on January 1, 2014" the regulator said.
In May, Sen. Bill Nelson, D-FL, flagged the disturbing consumer credit reporting practice of lumping a short sale within the same industry code as a foreclosure in consumer credit reports.
The $11.6 billion deal resolved Fannie's long-standing claims that BofA sold the GSE defective mortgages and mishandled various loans it serviced for Fannie between 2000 and 2008.