The Federal Housing Finance Agency delayed plans to raise the base guarantee fee by 10 basis points on all mortgages securitized by Fannie Mae and Freddie Mac, giving newly appointed FHFA Director Mel Watt more time to evaluate the changes.
After much fanfare and delay, Rep. Mel Watt was officially sworn in as director of the Federal Housing Finance Agency. Entering his five-year term, Watt becomes the first Senate-confirmed director of the agency.
Currently, Rep. Mel Watt’s, D-N.C., nomination doesn’t have the necessary votes, but the situation remains incredibly fluid. Still, that hasn't stopped policymakers and advocacy groups from dropping breadcrumbs on the confirmation trail.
The greatest guessing game on Capitol Hill appears to be who will lead the conservator of Fannie Mae and Freddie Mac. However, there's no need to guess when the man best suited for the position is already in office.
The Consumer Financial Protection Bureau finalized clarifications to mortgage rules Wednesday, improving consumer protections in qualified mortgages and mortgage servicing.The corrections, clarifications and amendments were first...
The CFPB left the grace period open-ended and most in the industry interpreted that to mean that it will last throughout the rest of 2015, at least. Unfortunately, as welcome as that grace period is, TRID remains a costly and complicated fix that has enormous implications for the whole industry..
“Bad letters damage the brand,” Katherine Porter says. “There’s a contagion effect of this. I think bad letters are unjust. They disproportionately harm the borrowers we need to help the most.” Read More