Wilbur Ross quits Ocwen Financial

Wilbur Ross quits Ocwen Financial

Distressed asset investor bringing his magic to Bank of Cyprus

Dustin Johnson levels blockbuster claims at title attorneys

Is Nat Hardwick the fall guy?

CFPB proposes 7 big changes to foreclosure process for mortgage servicers

Adds guidance on extended borrower protections
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Items Tagged with 'Federal Housing Finance Agency'

ARTICLES

FHFA COO found not guilty of threatening Ed DeMarco

Stood accused of threatening to shoot former FHFA acting director
Ben Lane
Richard Hornsby, the chief operating officer of the Federal Housing Finance Agency, was found not guilty of threatening former FHFA Acting Director Ed DeMarco. Hornsby stood accused of threatening to kidnap or injure a person after he allegedly threatened DeMarco at the FHFA’s headquarters in late April.
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GSEs officially update representation and warranty policies

Analysts say impact of long-awaited changes may be minimal
Ben Lane
Fannie Mae and Freddie Mac both announced changes to their respective representation and warranty policies, following through on an announcement made by Federal Housing Finance Agency Director Mel Watt at the Mortgage Bankers Association Annual Convention & Expo in October.
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Genworth: G-fee increases to hurt mortgage lending

53% say increases will result in fewer loans
Brena Swanson
The Federal Housing Finance Agency announced in June that it was seeking industry opinion on Fannie Mae and Freddie Mac guarantee fees, and while the results of this have not been revealed, a new survey of mortgage bankers gives a preview into what lenders expect to happen with increases.
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FHFA Director: "Significant challenges remain" for Fannie Mae and Freddie Mac

Mel Watt makes first appearance before Congress
Brena Swanson
The FHFA director went before the U.S. Senate Committee on Banking, Housing, and Urban Affairs Wednesday morning to give an update on Fannie Mae, Freddie Mac and the Federal Home Loan Bank. And while the government-sponsored enterprises have come a long way since the crisis, FHFA Director Mel Watt noted in his hearing that they still have a ways to go.
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Redwood Trust enters into risk-sharing agreement with Fannie Mae

REIT hopes this is the “first of many such transactions”
Ben Lane
Under the agreement, Redwood will absorb the first 1% of credit losses on $1.1 billion of new conforming loans it plans to sell to Fannie in the fourth quarter.
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FHFA's Watt: Realtors are next step for expanding mortgage credit

Housing Director urges agents to “actively encourage their customers”
Brena Swanson
Now that Federal Housing Finance Agency Director Mel Watt announced his plans to expand the credit box, he went to next source of strengthening homeownership: Realtors.
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Fannie, Freddie form new company to develop single GSE bond

Common Securitization Solutions to build Common Securitization Platform
Ben Lane
Fannie Mae and Freddie Mac have established Common Securitization Solutions, a jointly owned limited liability company, with the goal of facilitating the design and eventual implementation of the single GSE bond through the Common Securitization Platform.
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FHFA Senior Associate Meg Burns joins The Collingwood Group

Formerly senior associate director for housing and regulatory policy
Ben Lane
In her new role, Burns will “leverage her considerable regulatory experience and housing policy expertise to promote the development and adoption of policies and initiatives that will help bring greater clarity and confidence to the housing finance industry,” The Collingwood Group said.
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It's official: Risk retention rule approved

Federal Reserve gives last and final approval
Brena Swanson
The final version of the risk retention rule is now officially approved by six federal agencies, following the Federal Reserve’s final approval on Wednesday. The rule contains an exemption for Qualified Mortgages similar to when the rule was proposed in 2013.
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SEC approves risk retention rule, pending Fed approval

Industry continues to weigh in
Brena Swanson
The Securities and Exchange Commission approved the final version of the risk retention rule that would require banks to retain at least 5% of the risk on their books when securitizing loans. Now all that is left is approval from the Federal Reserve.
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