AMCO, a Cleveland-based valuation management company, has announced the addition of Frank J. Fahrenkopf Jr., former chairman of the Republican Party, to its advisory board.Mr. Fahrenkopf said he believes in "market-driven solutions" to problems related to noncompliant and inaccurate valuations in the mortgage industry. "AMCO's total independence, single-focused approach to the valuation industry, and unique proprietary solutions are exactly what the mortgage lending industry needs, before government is forced to enact more onerous regulation," he said. Mr. Fahrenkopf joins a board already consisting of two former secretaries of the Department of Housing and Urban Development, Andrew M. Cuomo and Jack F. Kemp, and William C. Apgar, a former commissioner of the Federal Housing Administration who is now senior scholar at Harvard University's Joint Center for Housing Studies.
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
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The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18 -
In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18