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Cover Story

The billion-dollar question facing Carol Galante

The Federal Housing Administration is on the brink of the next big government bailout. Potentially. Yet Commissioner Carol Galante insists there is strength ahead.

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Top News

Proposed Ginnie Mae policy may increase buyouts

This week Ginnie Mae proposed a change to its general buyout...
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Reverse mortgage legislation approved by Texas House

The Texas House of Representatives approved legislation that would...
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The Ticker

» GSE profits push back debt limit fears, but Lew is not taking any chances

U.S. Treasury Secretary Jack Lew warned Congress in a letter Friday that his department will begin implementing ‘extraordinary...

» Sequester to shut HUD for seven days

The U.S. Department of Housing and Urban Development will close its offices nationwide on Friday, May 24th. The news comes as a...

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Two Fed bank chiefs debate monetary policy

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Fannie and Freddie Face New Problem: Profitability

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Lending

May 17, 2013

Reverse mortgage legislation approved by Texas House

The Texas House of Representatives approved legislation that would reverse mortgage lending in Texas....

Flagstar CEO steps down, moves to his old position

An executive shake-up swept through Flagstar Bancorp this week. The Michigan-based firm says current CEO and President Michael Tierney is stepping down from the top job and returning to his previous position, executive vice president of personal financial services. Taking his place is Alessandro DiNello, who was named CEO and president.

They Said It

“

"He is withholding his support for getting a significant piece of getting this recovery going," Frank said. "It's moving, but he can make it better. As the recovery picks up speed, the FHFA is a beneficiary because they own more houses than anybody."

”

The Ticker

» GSE profits push back debt limit fears, but Lew is not taking any chances

» Sequester to shut HUD for seven days

» Butler & Hosch buys Prommis subsidiary Cal-Western Reconveyance

» American Banker: Wells, Citigroup halt foreclosure sales in several states

» Back to the Future: The cost of mortgage rates

» Kocherlakota: Fed needs to lower interest rates more

» Connecticut mansion becomes most expensive home on market

» $2.2 billion in foreclosure review payouts cashed by homeowners

» CFPB orders Texas homebuilder to cough up kickbacks

» Investors could face first losses on AJ securities

Lending News

BofA posts 1Q profit, mortgage banking a mixed bag

Mortgage applications continue to climb

Prudential regulators defend too-big-to-fail efforts

Comerica first-quarter earnings rise as mortgage lending cools

Monday Morning Cup of Coffee: Low-down loans coming back

Young families suffer the most from the housing crisis

JPMorgan mortgage banking income falls

Wells Fargo sees dip in mortgage originations as profits soar

ReWired

Lots of chatter over the HECM program without a clear solution

The reverse equity debate inside the Rayburn House Office Building reached a boiling point Thursday as representatives from the Federal Housing Administration listened to lawmakers fire off questions about the importance, or lack thereof, of the reverse mortgage program.

May Cover Story

The billion-dollar question facing Carol Galante

The Federal Housing Administration is on the brink of the next big government bailout. Potentially. Yet Commissioner Carol Galante insists there is strength ahead.

Feature

The art of nonprofit

by Megan Hopkins

Nonprofits — the Cuyahoga Land Bank, NeighborWorks America, Rebuilding Together, the National Association of Hispanic Real Estate Professionals, PCV|VRM Seeds of Hope and many more local organizations — are investing significant resources to improve America’s most vulnerable housing markets.

Commentary

Seeking common ground

by Janneke Ratcliffe

It is time to set a clear direction for the future state of mortgage finance. Despite low rates and stabilizing home prices, it is still too hard to get a mortgage to purchase a home.

Lending

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