The Federal Housing Finance Board is trying to gauge the appropriate level at which a Federal Home Loan Bank can operate a mortgage purchase program without raising safety-and-soundness concerns."Like so many other things in life, the answer may be moderation," Finance Board Chairman Ronald Rosenfeld told a congressional panel. He stressed that the Seattle FHLBank's recent decision to drop its mortgage purchase program was made by its board of directors, not the Finance Board. However, Mr. Rosenfeld indicated that the Finance Board wants to provide guidance for the other FHLBanks regarding the appropriate size of their mortgage loan portfolios. "It is very high on our priority list," he said. The chairman also told the panel that an FHLBank would have to receive Finance Board approval to sell mortgage loans into the secondary market.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28 -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28