The real reason Fannie and Freddie don't do principal modifications

Julián Castro sworn in, spends first day as HUD Secretary

Former San Antonio mayor takes over for Shaun Donovan

Blackstone adviser: Investors worried about ‘serious correction’

Byron Wien still holds his line
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The Ticker

HomeStreet sells MSRs, mortgages

Reduces mortgage concentration
July 29, 2014
HomeStreet sold $211 million of its held-for investment single-family mortgages in the second quarter, recognizing a $3.9 million gain.
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Bloomberg: Blackstone rental home bonds have highest LTV

July 29, 2014
Bloomberg real estate ace Jody Shenn reports that Blackstone’s rental home bonds have the highest Loan-to-Value of any on the market.
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CFPB obtains $92M for predatory lending scheme

Service members given false promises
July 29, 2014
The Consumer Financial Protection Bureau and 13 state attorneys general obtained approximately $92 million in debt relief for about 17,000 U.S. service members and other consumers harmed by Colfax Capital Corporation and Culver Capital.
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FHFA extends G-fee input deadline

Seeks industry opinion on G-fee policy
July 29, 2014

The Federal Housing Finance Agency extended its deadline for accepting industry input on Fannie Mae and Freddie Mac guarantee fees to Sept. 8, allowing more time for public comment on G-fee policy and implementation regarding the optimum level of G-fees required to protect taxpayers.


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DOJ demands more in BofA, Countrywide deal

Deal hung up over penalties
July 29, 2014
The Department of Justice is not satisfied with its negotiations over Bank of America's cash penalty amount for the dealings of Countrywide and Merrill Lynch. The $13 billion is not enough.
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American Capital beats estimates by $0.19

REIT reports earnings per share of $0.87 in 2Q14
July 28, 2014
The company’s second quarter earnings were up from $0.71 in 1Q14.
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FHFA considering plan to offer single Fannie, Freddie bonds

Report on Common Securitization Platform may be coming soon
July 28, 2014
During his May speech at the Brookings Institute, FHFA Director Mel Watt said that adjusting the way Fannie and Freddie securitize mortgages was one of his key goals. Now it appears that the FHFA may be one step closer to accomplishing that goal.
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Is this approach to keeping homeowners a model to fight blight?

Boston group helps troubled borrowers - here's how
July 28, 2014
A Boston non-profit has another approach to principal reduction for troubled homeowners, and they say it’s fighting blight without involving anyone who doesn’t want to be involved, the Washington Post reports.
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Moody’s rates 2014-SFR2 securitization at $322.6M in Class A

July 28, 2014
Moody's Investors Service has assigned provisional ratings to four classes of certificates backed by one floating rate loan secured by mortgages on 3,750 single family rental properties owned by the Invitation Homes 2014-SFR2 securitization.
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Man accidentally posts naked photo in home listing

This wasn’t the kind of exposure he wanted for his house
July 28, 2014
A Texas man hoping to sell his home made a big mistake while posting an image of his home online. (Safe for work.)
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