Fannie Mae and Freddie Mac have new technology-driven initiatives planned for 2018 that are expected to help lenders improve the borrowing experience for home buyers and make full use of the government-sponsored enterprises' credit box.
Fannie Mae and Freddie Mac's final Duty to Serve plans are moving ahead with expanded support for manufactured housing through both single-family and multifamily programs, including controversial personal property loans.
Royal Bank of Scotland Chief Executive Officer Ross McEwan said the likelihood is waning that the lender will settle a U.S. mortgage-bond probe before the end of the year as he'd hoped, though it's well-capitalized to handle a settlement.
The U.S. is taking steps to stamp out the practice of servicemembers and veterans being pressured into taking mortgages they don't need, a move that officials say will lower consumer costs and could lead to financial penalties for lenders.
Testing of the common securitization platform is taking longer than expected, but the Federal Housing Finance Agency said it won't delay the 2019 launch of Fannie Mae and Freddie Mac's new single "uniform mortgage-backed security."
Credit Suisse's plan for consumer relief in a multibillion-dollar Department of Justice settlement related to residential mortgage-backed securities could reduce the costs involved, according to the settlement monitor's first report.