The director of the Office of Federal Housing Enterprise Oversight continues to press for what he acknowledges have been "sticking points" in the passage of proposed GSE reform legislation, he told attendees at the SourceMedia Secondary Market Conference on Dec. 6.James B. Lockhart III said he believes the sticking points -- portfolio constraints on the government-sponsored enterprises as a means of controlling "systemic risk," and the structure of a proposed affordable housing fund -- can be resolved, and likely will be, to allow passage of legislation next year.
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While the three largest lenders now offer VantageScore, Bank of America Securities says two agency pulls boosts consumers scores, no matter which model.
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Federal Housing Finance Agency Director Bill Pulte said last week that it will slash the budget for its inspector general, spurring Senate Banking Committee Democrats to seek his testimony.
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The technology provider now counts two top 10 servicers among its customers and intends to use new capital to accelerate product development and add staff.
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Fitch Ratings, noting the reduction in Wells Fargo's balances and sale of non-agency servicing, said the bank no longer meets expectations at its old grade.
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ARMs accounted for more than 11% of rate locks, their largest share in nearly four years and up more than three percentage points over the past three months.
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The chief risk officer's oversight extends to the modernization of loan pricing and scoring, which the GSEs' oversight agency has been accelerating.
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