Fannie Mae chairman and chief executive Franklin Raines is warning that the use of interest-only and zero-downpayment loans are fueling a housing price bubble in certain California and New England markets.In a recent speech before the Economic Club of Washington, D.C., Mr. Raines said there is evidence of a bubble in these two markets, blaming IO and zero-down loans for fueling housing speculation. (Mr. Raines' comments were first reported by the Washington Post and could not be confirmed by MortgageWire's deadline on Monday.) Over the past few months, some mortgage lenders have privately expressed concerns about price bubbles in certain seashore markets, in particular the New Jersey shore, and some New England resort areas, citing an increase in the use of interest-only mortgages.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
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The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
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Equity is entitled to a little over $70,000 worth of damages.
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Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
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Deferrals are up but still haven't outpaced loan modifications in conservatorship-era foreclosure prevention, according to the Federal Housing Finance Agency.
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