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At least two mortgage servicers say they are close to being released from an OCC enforcement order that required 14 of the nation’s largest bank servicers to fix flaws in their foreclosure reviews. But the OCC says it has set no timetable for freeing any of the banks from the 2011 order.
Unnecessarily high guarantee fees for Fannie and Freddie are hurting credit availability, said Ron Haynie with the ICBA
Fannie Mae and Freddie Mac are charging excessive loan fees, according to some industry groups, who claim it is time to stop overcharging borrowers who use conventional financing to buy a home.
During a wide-ranging discussion of the economy and regulation, Wells Fargo CEO John Stumpf cited several factors that were harming the housing market. His comments came the same day the White House hosted a meeting on the topic.
A bill introduced in the House Financial Services Committee would eliminate appraisal requirements established by the Dodd-Frank Act for certain higher-risk mortgages when lenders hold the loans in portfolio for at least three years.
Banks and mortgage lenders may have received too much relief from loan buybacks, putting taxpayers at greater risk for losses, according to a Federal Housing Finance Agency inspector general's report.
In his first major policy speech as the new housing secretary, Julian Castro voiced support for a Senate bill to reform housing finance and said policymakers should "remove the stigma associated with promoting homeownership."
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