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More than 1 million homebuyers qualified for a mortgage in the third quarter, the first time since the financial crisis that lenders reached such a threshold, according to research by the Urban Institute.
February 3
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The House approved a bill 427-0 that would revamp the Federal Housing Administrations condominium loan program and expedite the approval process for Rural Housing Service guaranteed loans.
February 3
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Opus Capital Markets Consultants, a unit of Wipro, has created a division for identifying operational and loan-level risks within a residential mortgage servicing operation.
February 3 -
Freddie Mac has taken out another reinsurance policy that transfers risk of default on mortgages it insures.
February 3 -
Wells Fargo & Co., the largest U.S. home lender, agreed to pay $1.2 billion to resolve claims related to its Federal Housing Administration mortgage practices.
February 3
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Morgan Stanley will pay $63 million to settle a series of government lawsuits claiming the bank misrepresented securities it sold to banks that later failed.
February 2 -
Fannie Mae and Freddie Mac unveiled an appeals process Tuesday that will allow an independent arbitrator to resolve disputes between lenders and the government-sponsored enterprises over loan repurchase demands.
February 2
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Lenders argue that the GSEs would be better off buying more loans that are already insured, rather than transferring credit risk after holding them for a time. But Freddie Mac's Kevin Palmer says certainty of reimbursement is more important than the timing of risk transfers.
February 2
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The near future may find more banks ceasing to originate residential mortgages in an effort to stop the slide in stock prices.
February 2
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Key Democratic lawmakers are urging the Department of Housing and Urban Development to tighten its program for selling nonperforming guaranteed loans to ensure servicers have exhausted all loss mitigation options before the loans are sold to private investors.
February 1
