Economy

Treasury Secretary-designate Steven Mnuchin's plan to remove Fannie Mae and Freddie Mac from government control could mean increased competition for lenders' loans. But it could also prompt a rise in mortgage rates.

Even before taking office, Treasury Secretary-designate Steven Mnuchin has said he wants to return Fannie Mae and Freddie Mac to the private sector, a radically different vision of housing finance reform than that pushed by other Republicans.

Some banks are set to get a fourth-quarter earnings boost from their MSR portfolios, thanks to a sudden spike in yields on Treasury bonds. Add to that the prospect of further rate hikes and the potential dismantling of Basel III, and more banks could be encouraged to re-enter the servicing business.

President-elect Donald Trump has named Quicken Loans Executive Vice President Shawn Krause to the team that will direct the transition at the Department of Housing and Urban Development.

Treasury Secretary-designate Steven Mnuchin wasted no time Wednesday wading into one of the thorniest debates in the financial services arena, saying the Trump administration would seek to end government control of Fannie Mae and Freddie Mac.

While President-elect Donald Trump already faces numerous potential conflicts-of-interest between his businesses and the presidency, his real estate ties and campaign promises raise serious questions about his approach to the housing industry.

Foreclosure starts dropped to the lowest level recorded since January 2005, according to Black Knight Financial Services.

Mortgage bankers are anxiously waiting to see who President-elect Donald Trump will pick as the next Treasury secretary. Several prominent names have been floated for the job, though with every passing day, a new possible choice seems to pop up. Following is a look at the current crop of candidates and their chances.

Freddie Mac has published a list of companies that meet its requirements regarding the creation, signing and storage of electronic promissory notes.

Home prices in 20 U.S. cities continued to climb in September, while a gauge of values nationwide exceeded the pre-recession peak, according to S&P CoreLogic Case-Shiller data.

Many big banks are backing away from the retail channel and FHA lending due to rising compliance costs. But U.S. Bank Home Mortgage President Tom Wind sees an opportunity to leverage those challenges to improve efficiency and transparency.

Demand for housing settled down in October after ramping up a month earlier, according to Redfin.

John Allison, a contender for President-elect Donald Trump's Treasury secretary, is a staunch opponent of the Federal Reserve Board, the Basel international accords, the government's support of the housing finance industry and the Dodd-Frank Act of 2010.

Income gains and low interest rates have contributed to the most affordable housing market in a quarter-century, according to First American Financial Corp.

The election results will only intensify factors making competition with bank lenders more difficult, including the effect of interest rates as well as the regulatory environment.

Tom Wind is once again leading a large bank's mortgage operation. As the new president of U.S. Bank Home Mortgage, he's set a course that embraces retail, regulation and the FHA.

Home prices grew by a paltry 0.1% month over month in September, though the pace of price appreciation on an annual basis remained high, according to Black Knight Financial Services.

The Pennsylvania company has redoubled its outreach to low- and moderate-income consumers by partnering with Operation Hope on a down payment assistance program and naming a veteran banker to the newly created post of director of fair and responsible banking. But despite these efforts, history says Fulton is unlikely to escape punishment if the Justice Department finds that it violated fair-lending laws.

The Federal Housing Finance Agency's choice to raise conforming loan limits in 2016 for the first time in a decade is being met with enthusiasm from the mortgage industry, as it should prove to be a positive for future origination volume.

The average for the 30-year fixed-rate mortgage this week topped 4% for the first time since 2015 as 10-year Treasury yields continued their post-election climb, according to Freddie Mac.