Fannie Mae and Freddie Mac would have to submit loan pricing data to their new regulator under a manager's amendment Rep. Barney Frank, D-Mass., intends to offer during a House Financial Services Committee markup of a GSE reform.The 21-page manager's amendment drafted by committee Chairman Frank contains mostly technical changes to the bill (H.R. 1427), which is designed to strengthen regulation of the housing government-sponsored enterprises. However, one section allows the regulator to review Fannie and Freddie loan data to see if minorities are being charged higher interest rates than whites. If a pattern or practice of discrimination is discovered, the regulator can refer the lender to the appropriate enforcement agency. The regulator also can order the GSE to take remedial actions. Separately, America's Community Bankers said it opposes any amendment to weaken the GSE reform bill. "We urge passage of H.R. 1427 as introduced, and with the manager's amendment," ACB executive vice president Robert Davis said.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
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The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
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While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
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Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
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Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
April 23 -
The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
April 23