CFPB secures $27.7 million judgment against foreclosure relief scammers

The next president needs to speak up about housing right now

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CFPB, DOJ take action against Provident Funding for discriminatory lending

Could pay $9 million in damages
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Items Tagged with 'Mel Watt'

ARTICLES

FHFA opens door for potential Fannie, Freddie CEO raises

Industry and politicians criticize proposal
Brena Swanson
The CEOs of Fannie Mae and Freddie Mac are in line for a potential pay raise, but the new opportunity has been met with sharp opposition from both the industry and those with political influence.
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From HW Magazine

Inside Goldman Sachs

Housing conference looks at what mortgage companies will need to survive in the future
Brena Swanson
“Nearly every part of the real estate process has been transformed by technology except for home financing. Getting a mortgage is still manual, frustrating and confusing,” said Nick Stamos, CEO and founder of Sindeo.
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FHFA director Watt answers “What’s going on with HARP?”

Sets industry talks straight
Brena Swanson
After a town hall meeting on the Home Affordable Refinance Program on Wednesday, the housing market was left questioning if the program would be extended or possibly even expanded. And the industry was quick to ask FHFA Director Mel Watt to clarify at the Goldman Sachs Housing Finance Conference in New York City the next day.
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FHFA revamps nonperforming mortgage servicing rules for Fannie and Freddie

Reduces taxpayer risks
Brena Swanson
Freddie Mac sold severely delinquent loans through two transactions in the past six months, totaling approximately $1 billion in unpaid principal balance. From this pilot program, the Federal Housing Finance Agency formed these enhanced requirements for sales of nonperforming loans by Freddie Mac and Fannie Mae.
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FHFA Watt addresses mortgage principal reduction

Mass principal forgiveness too costly
Brena Swanson
The Federal Housing Finance Agency said that the government is still looking at mortgage principal reduction as an option. But how this will be executed is still up for debate.
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Fannie Mae explains 6 ways to push borrowers to refi

Time is running out
Brena Swanson
The FHFA continues to drill into homeowners that the Home Affordable Refinance Program and the Home Affordable Modification Program are not scams. To help push borrowers along, Robert Koller, director of credit risk management with Fannie Mae, gave six quick facts that could make all the difference to getting people to refinance.
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Monday Morning Cup of Coffee: Mortgage giants warm to principal reduction?

Also 2015 housing finance forecasts galore and key mortgage industry metrics
Trey Garrison
Is principal reduction about to become more common? Who hit the bulls-eye in forecasting 2014, and who just offered bull? And of those hawkeye prognosticators, what do they have to say about 2015? Get it here and get it early.
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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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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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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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