How far can lenders push the credit box?

How far can lenders push the credit box?

Watt announcement helps, but risk keeps standards tight

Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers

Freddie Mac CEO: We will help increase mortgage lending

Competition among two is still competition
W S

Items Tagged with 'Mel Watt'

ARTICLES

How far can lenders push the credit box?

Watt announcement helps, but risk keeps standards tight
Sarah Wheeler
During one of the last panels at the MBA Annual Convention, a group of lenders was cautiously optimistic about the future, noting that while progress has been made, more clarifications are needed for a significant increase in non-QM lending.
Read More

SEC approves risk retention rule, pending Fed approve rule

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.
Read More

Mel Watt and Julian Castro announce housing policy changes

MBA calls the policy changes "extremely positive"
Sarah Wheeler
Attendees at the Mortgage Bankers Association's Annual Convention & Expo think the changes are good. Really, really good.
Read More

MBA leaders challenge federal regulators to take action

MBA: It's time for the penalty phase to end
Sarah Wheeler
"Today's lenders are paying many times over for mistakes that may have been out of their control," Bill Cosgrove, MBA chairman, said Monday at the MBA Convention in Las Vegas. "And it's the consumer who pays the ultimate price. It's time for the penalty phase to end."
Read More

FHFA, Fannie & Freddie near deal to open mortgage credit box

Deal could set fire beneath stagnant mortgage lending
Trey Garrison
As readers of HousingWire know, Federal Housing Finance Agency Director Mel Watt has been working towards a plan to open what many see as underwriting standards that are too restrictive. Now, The Wall Street Journal is reporting that Fannie Mae and Freddie Mac may be close to adopting Watt's initiative.
Read More

FHFA appoints new chief of staff

Janell Byrd-Chichester joins the agency
Brena Swanson
“Janell brings a broad array of talent, experience and knowledge to the FHFA leadership team and I am pleased to have her aboard,” said FHFA Director Mel Watt. “We look forward to working with her to support the Agency’s goals of ensuring safety, soundness and liquidity in the nation’s housing finance markets.”
Read More

Incomplete OIG report overstates the risks of FHFA sunset plan

Here's what this means for reps and warrants relief
Laurie Goodman and Jun Zhu
The OIG has a job to do, but an incomplete analysis of a sensitive issue raises the question of whether the government is really willing to take the steps necessary to assure lenders that they intend to provide rep and warrant relief.
Read More

FHFA director faces criticism from former allies

Housing advocates want more change
Brena Swanson
While they were the original supporters of his appointment, housing advocates are now frustrated with the lack of changes to housing policy since Mel Watt took over.
Read More

It's official: Home loan banks enter merger agreement

Seattle and Des Moines to join forces
Brena Swanson
“Given the fundamental changes that have occurred in the financial system since the creation of the Federal Home Loan Banks, FHFA views the merger agreement approved by the boards of the Federal Home Loan Bank of Seattle and the Federal Home Loan Bank of Des Moines positively,” FHFA Director Mel Watt said.
Read More

Fannie Mae widens credit box for failed homeowners

Updates minimum wait periods
Brena Swanson

Good news for failed homeowners: Fannie Mae updated the policy related to the minimum waiting periods following a preforeclosure sale or deed-in-lieu of foreclosure, making it easier for borrowers to jump back into the market.


Read More