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The Treasury Department's 'white paper' on the future of the GSEs not only calls for the federal government to cut the government umbilical to Fannie Mae and Freddie Mac, but estimates that certain mortgage rates could rise upwards of 150 basis points, according to sources who claim to be familiar with some of the plan's contents.
February 9 -
The House Financial Services Committee wants to cut off all federal funding for NeighborWorks America, which supports hundreds of community-based groups that provide safe and decent housing for low-income families.
February 9 -
When it comes to restructuring the housing finance system, the new chairman of the Senate Banking Committee wants to ensure that safe, 30-year fixed-rate mortgages will available to homebuyers with all lenders having equal access to the secondary market.
February 9 -
The Mortgage Bankers Association says nonbank lenders are willing to file suspicious activity reports to curtail fraud in the industry, but the trade group wants the Financial Crime Enforcement Network to include more data fields in its reports so responders can supply identifying information.
February 8 -
The National Association of Independent Housing Professionals said it will sue the Federal Reserve over its looming loan officer compensation rule, charging that the regulation is illegal and should be withdrawn because the agency "failed to demonstrate even a remote correlation between a mortgage loan originator's compensation and abusive, deceptive or unfair practices."
February 8 -
Thanks to rising interest rates the value of mortgage servicing rights has increased roughly 15% since the end of the third quarter, according to Interactive Mortgage Advisors, Denver.
February 8 -
The Obama administration should speed up the sale of Fannie Mae and Freddie Mac's mortgage portfolios to reduce taxpayer risk and capture "unrealized gains" in the assets, according to Rep. Scott Garrett, R-N.J.
February 7 -
Who will take on the catastrophic risk associated with making mortgages, a risk that has flared twice since 1989 and has caused the taxpayers hundreds of billions of dollars in losses?
February 7 -
The confluence of GSE reforms and risk retention rules is forcing the Obama administration to consider ways to clamp down on the Federal Housing Administration program to prevent an explosion in its insurance market share.
February 7 -
A California appeals court has dealt mortgage servicers another setback by letting a borrower pursue a fraud claim because she was promised a loan modification, but got pushed into foreclosure.
February 7
