If Congress does not pass a GSE regulatory reform bill, a Friedman Billings Ramsay analyst says he expects the Bush administration to kept a tight rein on Fannie Mae and Freddie Mac and limit their issuance of corporate debt."If the administration is handed reckless legislation or gets no legislation at all, we expect the Treasury Department would begin to flex its muscle regarding debt issuance, which if effective, could prove to be a de facto asset cap," FBR managing director Paul Miller says in a research paper. (The government-sponsored enterprises issue debt to finance the growth of the mortgage portfolios.) Mr. Miller also contends that the outlook for passage of a GSE reform bill this year is not good despite reports of negotiations to break a deadlock over GSE portfolio limits. "Following our meetings with Hill staffers, it appears to us that a compromise is further apart than many press outlets have claimed," the FBR analyst says.
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The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
2h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
5h ago -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
7h ago -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
7h ago -
The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24 -
The top five producers had an average dollar volume of VA and USDA loans of more than $35 million in 2023.
April 24