Fannie Mae and Freddie Mac may face restrictions on purchases of interest-only and payment-option mortgages if the Office of Federal Housing Enterprise Oversight decides to move ahead and issue nontraditional mortgage guidance for the two government-sponsored enterprises."We are looking at putting out a guidance similar to [that of] the other bank regulators," OFHEO Director James Lockhart said -- referring to nontraditional mortgage guidance recently issued by federal banking regulators. The guidance is expected to cover GSE purchases of private-label securities with underlying nontraditional mortgages and whole loans. But OFHEO officials declined to provide any specifics about the guidance. "OFHEO's NTM guidance for the GSEs will have sweeping market impact, although the extent of this impact will vary depending how aggressive OFHEO is in its guidance," according to Federal Financial Analytics, a Washington consulting firm. Mr. Lockhart revealed his nontraditional mortgage initiative in responding to a question about the GSEs' purchasing subprime mortgage securities that could have abusive or predatory features. "I agree, we have to be careful that they are not exploitative," the GSE regulator said at a Women in Housing and Finance symposium.
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While income decreased from the fourth quarter, it accelerated on an annual basis across NVR's building and lending units.
40m ago -
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.
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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.
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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
April 23 -
Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
April 23