New legislation will break apart and sell Fannie Mae and Freddie Mac

New legislation will break apart and sell Fannie Mae and Freddie Mac

House Democrats introduce new GSE reform measure

4 quick reactions to FHFA mortgage insurer liquidity plan

Regulators want proof insurers can pay claims

A response to zombie properties

Effective legislation should produce real solutions
W S

News

China set to dominate foreign homebuyers market

Analysts expect Chinese to overtake Canadians within 5 years
July 10, 2014
“This bigger picture hides a rapid rise in purchases by Chinese investors, who may overtake Canadians as the largest group of foreign buyers of US housing within the next five years,” Capital Economics Property Economist Paul Diggle said.
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Scorecard: Housing recovery continues to make progress

But positive indicators don’t mean the recovery is complete
July 10, 2014
June’s scorecard identifies growing equity and a rebound in the sale of new and existing homes as positive trends.
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MGIC: Delinquencies on file drop in June

Writes $3.2 billion primary new insurance
July 10, 2014
MGIC Investment Corporation wrote $3.2 billion primary new insurance in June, a jump from $2.8 in May.
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4 quick reactions to FHFA mortgage insurer liquidity plan

Regulators want proof insurers can pay claims
July 10, 2014
The Federal Housing Finance Agency wants private insurers to show proof they can cover losses on defaulted mortgages, even in adverse economic times. It didn't take long to get a response from Fannie, Freddie, Radian and National MI.
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Future of housing in question amid 2Q14 earnings release

First up, Wells Fargo
July 10, 2014
Friday ushers in the second-quarter earnings season, but the housing industry remains guarded as earnings are estimated to trend down slightly for most U.S. banks.
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FHFA seeks to reduce private insurance risk

Calls for input on draft requirements
July 10, 2014
The Federal Housing Finance Agency is trying to reduce its credit risk after taking a giant hit from the financial crisis. As a result, it is seeking input on drafting new requirements that would apply to private mortgage insurance companies.
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loanDepot snaps up RoundPoint Mortgage loan officers: source

Would impact 200 or so LOs
July 10, 2014

The move makes sense as the two companies share similar business models; that is, high-touch, boutique customer service. The loan officers are currently being notified of the transition, according to information provided from a RoundPoint loan officer who asked to remain anonymous.


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HUD Secretary Shaun Donovan confirmed as director of OMB

Clears way for Julián Castro as new head of HUD
July 10, 2014
"I am pleased that Republicans and Democrats in the Senate today confirmed Shaun Donovan as the next Director of the Office of Management and Budget," President Obama said. Now, Donovan's exit clears the way for San Antonio Mayor Julián Castro to lead HUD.
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New legislation will break apart and sell Fannie Mae and Freddie Mac

House Democrats introduce new GSE reform measure
July 10, 2014
The bill winds down Fannie Mae’s and Freddie Mac’s current activities and revokes their charter, but allows them to be sold and recapitalized as entities with different business plans without any of their current unique powers.
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A response to zombie properties

Effective legislation should produce real solutions
July 10, 2014
Common sense would tell us that the first step should be developing a way to expedite the foreclosure process for homes that have been abandoned; it does not seem reasonable for a home to sit vacant for three years when the owner has walked away from the property.
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