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Ocwen's regulatory burdens send up red flags and drive down stock price

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Items Tagged with 'Mel Watt'

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From HW Magazine

The First Director

The FHFA's Mel Watt on the GSEs, and his role in shaping the future of the housing economy
August 1, 2014
Melvin Luther Watt quietly slid into his office as the first appointed director of the Federal Housing Finance Agency. It was the end of last year, in mid-December. Christmas was coming and the markets were in the middle of the harshest winter in years. As he took over the office of Acting Director Ed DeMarco — himself the unassuming lightning rod for the nation’s housing policy — Watt gave no indication of what he intended to do with his new position; arguably the most powerful job in mortgage finance.
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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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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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Mortgage insurer ratings safe despite potential FHFA rule changes

S&P: Transition period provides sufficient time
July 25, 2014
Despite the FHFA's decision to revise its private mortgage insurance requirements, Standard & Poor’s Rating Services forecasts that insurers will maintain strong ratings in the immediate term.
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Here's how HARP misses the mark

5 years later and steady rate declines
July 9, 2014
While HARP is there to help the borrowers that were reliable during the financial crisis, there is one big problem in the program.
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HARP remains set to expire in 2015

Rumors of extensions doused
July 8, 2014
Respite industry speculations, Federal Housing Finance Agency Director Mel Watt did not extend the Home Affordable Refinance Program Tuesday.
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HARP to extend until 2016?

Falls in line with HAMP
July 7, 2014
At the end of June, U.S. Treasury Secretary Jacob Lew announced the extension of HAMP until at least Dec. 31, 2016. Now there is debate over whether or not the same extension will be applied to HARP.
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FHFA: Are you eligible for HARP?

Chart shows massive amount of eligible borrowers left
June 25, 2014
In the first quarter of 2014, the number of mortgages refinanced through the program was 76,930. Meanwhile, in the state of Florida alone, there are 82,435 loans eligible for HARP now. But the FHFA is quickly shifting into overdrive to change this.
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Wells Fargo expects G-fee change next year

Analysts predict a 10bp increase
June 6, 2014
Wells Fargo’s analysts suggest that the FHFA may increase the G-fees by 10 basis points on average, as was announced last year, “but with less risk-based pricing than in the FHFA’s previous proposed g-fee increases.”
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FHFA considers G-fee increase

Agency seeks industry comment on increase’s impact
June 5, 2014
On Thursday, the FHFA followed through on Director Mel Watt’s previous comments and released its request for input on the g-fees. “FHFA’s Request for Input includes questions related to g-fee policy and implementation regarding the optimum level of g-fees required to protect taxpayers and implications for mortgage credit availability,” the agency said. Mortgage analysts predicted this recently and expect changes to more than just the G-fees to come.
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