Economy

Fannie Mae and Freddie Mac have different timelines for the switch.

Embrace will originate and close home loans in its own name for clients of the wealth management firm.

Michigan's economy collapsed this spring amid the coronavirus pandemic as thousands of businesses closed and more than 1 million residents lost work and sought unemployment benefits.

New housing activity in Connecticut took a precipitous decline last month, with the number of permits issued around the state down 65.4% from April 2019, according to the Department of Economic and Community Development.

Both Fannie Mae and Freddie Mac have relaunched existing websites to provide COVID-19 tools to borrowers and servicers.

The ripple effect of buying, spending can drive small businesses back to success.

Some observers wonder if proposed regulatory targets for Fannie Mae and Freddie Mac will stoke concerns about low shareholder returns. But others suggest those fears are unfounded.

Cited the current capital markets and economic environment as the reasons for pulling out of the transaction.

Potential purchasers are looking to take advantage of low rates, despite worries about job security.

Loans with coronavirus-related forbearance have to be reported as current to the credit bureaus but there’s a ripple effect from them that has implications for credit reports and underwriting.

As the growth rate in forbearance requests downshifts, a vast stockpile of loans await modifications.

Not only is FHFA Director Mark Calabria preparing the GSEs to raise capital, but he must also help them decide just what they are selling to private investors in the way of equity returns and risk.

From the Midwest to mid-Atlantic, here's a look at 12 housing markets where first-time homebuyers find the most affordability, according to NerdWallet.

The much-anticipated proposal, which would not go into effect until after Fannie Mae and Freddie Mac are privatized, reflects Director Mark Calabria’s aggressive efforts to get the companies on a strong financial footing.

The MBA also said it has been lobbying for a measure that would enable cash-out refinances in forbearance to be sold to the GSEs.

The Mortgage Bankers Association's forecast anticipates tremendous coronavirus stimulus-related debt coming on to the market.

To deal with the crunch, servicers should combine cloud and digital workflow automation technologies.

Director Mark Calabria, who abandoned the Fannie and Freddie capital proposal written by his predecessor, said he expects a revised framework to be ready “very soon.”

The sale completes First Choice affiliate Berkshire Hills Bancorp's exit from the mortgage origination business.

Sellers are currently willing to concede discounts of around 5%, while bidders are hoping for about 20% off pre-pandemic prices. That estimated gap, which is likely wider in specific cases, has put a freeze on deals.