The Department of Housing and Urban Development completed a regulatory review of Fannie Mae and Freddie Mac's activities last year and it will be informing the GSEs of its findings in separate letters before the end of March. "The review provided a baseline of information on Fannie Mae's and Freddie Mac's business and program activities and examined specific transactions to determine if these are consistent with the GSEs' charter authorities," according to documents included in the President's budget request to Congress. HUD is the mission regulator for the two government sponsored enterprises and it is responsible for determining which activities and programs are consist with their charter. The letters might include some adverse findings that would require the GSEs to stop or modify some activities.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
1h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
5h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
8h 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.
9h 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.
10h 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