Lenders and Realtors are hailing a new law that delays flood insurance premium increases, but unless the government takes actuarially prudent measures, rising sea levels could cost taxpayers dearly.
Jose Gonzalez, the first Hispanic president of a Federal Home Loan Bank, envisions eventually allowing new categories of lenders like REITs to join the system, but wants membership to stay as it is for now.
The lender can experience problems selling a loan that loses qualified mortgage rule's protection. The lender also could be stuck in a vulnerable position if that loan ultimately defaults.
As interest rates increase, prepayment speeds are falling precipitously, extending the maturities of mortgage-backed securities, especially the guaranteed variety. This trend is likely to cause future declines in MBS values.
Two of the three major nonbank servicers are sticking by plans to acquire portfolios from banks this year, in spite of regulatory scrutiny and concern they are growing too fast.
Woodward Asset Capital has started a real estate brokerage brand catering specifically to property sellers, including banks and mortgage servicers unloading foreclosed homes.
The National Fair Housing Alliance is accelerating efforts to force mortgage lenders, servicers and trustees to do a better job of maintaining foreclosed properties in minority neighborhoods.
Real estate mortgage investment conduit rules generally discourage non-distressed securitized loan sales, but SN Servicing says it had reasons to sell some at a loss in this 2002 scratch-and-dent deal.
Freddie Mac will return $10.4 billion in profits to the Treasury Department next month, bringing total payments to about $10 billion above what it got in aid under conservatorship.
A "tangled web of conflicts could create incentives that harm borrowers and push homeowners unduly into foreclosure," Benjamin Lawsky warns.
The fate of a measure that provided key tax relief to distressed homeowners is hanging in the balance as Congress debates a larger package of tax extenders.
A founding executive of the upstart company is leaving his post as executive vice president.
The lawsuit claims the bank failed to maintain and market foreclosed homes in minority neighborhoods in Chicago, Memphis and Washington, in violation of the Fair Housing Act.
Jumbo mortgages currently are yielding less than agency loans, and there are other anomalies you can see in the business if you look closely.
"We are seeing less interest from institutional buyers" of foreclosed properties, says Fannie chief executive Timothy Mayopoulos.