Servicing

The regulator of Fannie Mae and Freddie Mac warned Thursday that congressional proposals to clamp down on the two government-sponsored enterprises could put taxpayers at greater risk.

The Federal Housing Finance Agency on Thursday admitted that it has contemplated allowing the GSEs to unload their nonperforming and modified loans in the secondary market, but at this time has no plans to act on it.

Ally Financial Inc. has filed a registration statement with the Securities and Exchange Commission for an initial public offering to sell common stock held by the U.S. Department of the Treasury.

The cure/default ratio for the nation's private mortgage insurers was 112.2% in February, the first time there has been more new cures than defaults since May 2010, according to data collected by the Mortgage Insurance Cos. of America.

The Federal Reserve Bank of New York plans to begin more extensive salesof the nonagency residential mortgage-backed securities in its Maiden Lane II LLC portfolio into an improved market for the bonds, turning down AIG’s offer to buy back the securities.

The number of completed foreclosures in Massachusetts dropped by 44% in February to 515, down from 917 during the same month last year, according to The Warren Group.Foreclosure petitions also saw a year-to-year decrease of 67% from 2,122 in February 2010 to 694 this year.

Top Republicans on the House Financial Services Committee are once again criticizing Elizabeth Warren, who is leading the Consumer Financial Protection Bureau creation, for her role as an advisor in the mortgage servicer settlement talks.

Refinancing activity is dropping rapidly in the industry and is starting to affect MBS issuance by Fannie Mae.

Arkansas has become the 22nd state to restrict private transfer fees which require a percentage of a home's sales price be paid to a private third-party each time the property is sold — often for up to 99 years.

The Department of Housing and Urban Development late Wednesday named former Freddie Mac executive Robert C. Ryan acting commissioner of the Federal Housing Administration, replacing the departing David Stevens.