Items Tagged with 'Fannie Mae'

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  • Cryptocurrency exchange Coinbase nabs top Fannie Mae exec Brian Brooks

    Fannie Mae general counsel leaving after 4 years
    Once rumored to be on the Trump administration’s shortlist to lead the CFPB, top Fannie Mae executive Brian Brooks is set to leave the federal government behind for the cryptocurrency industry. Brooks, who has served as Fannie Mae’s executive vice president, general counsel, and corporate secretary for almost four years, is stepping down from that position Friday to become the chief legal officer of Coinbase, one of the world’s largest digital currency exchanges.
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  • Fannie Mae adds former BBVA Compass chairman and CEO to its board of directors

    Manuel “Manolo” Sánchez Rodríguez joins GSE’s board
    Fannie Mae is adding the former chairman and CEO of BBVA Compass, Manuel “Manolo” Sánchez Rodríguez, to its board of directors, the government-sponsored enterprise announced Monday. Sánchez served as president and CEO of BBVA Compass, a U.S. subsidiary of Banco Bilbao Vizcaya Argentaria, from December 2008 to January 2017.
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  • CoreLogic: Mortgage fraud risk spiked in the second quarter

    There was a 12.4% year-over-year increase in fraud risk in Q2
    There was a significant increase in mortgage fraud risk at the end of the second quarter of 2018, according to Corelogic’s latest Mortgage Application Fraud Risk Index. CoreLogic’s Principal of Fraud Solutions Strategy Bridget Berg said this year’s trend continues to show an increase in mortgage fraud risk year-over-year.
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  • Lenders in a funk over mortgage market outlook

    Fannie Mae's Mortgage Lender Sentiment Survey reveals moral is very low
    Lenders reported a net negative profit margin outlook for the eighth consecutive quarter in the face of further erosion of purchase mortgage demand. According to Fannie Mae’s Mortgage Lender Sentiment Survey, lenders are feeling worse about the market this quarter than they were last year and last quarter. The biggest reason they have the mortgage blues? Competition from other lenders was the most cited reason by survey participants for the squeeze on margins.
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  • Fannie Mae now offering new risk-sharing option for multifamily loans

    GSE now selling credit insurance risk transfers to offload risk and attract new capital sources
    Fannie Mae just rolled out its first credit insurance risk transfer program in the multifamily industry. The first transaction under the new program was announced last week, an $11.1 billion CIRT transaction covering multifamily loans originated between October 2017 and January 2018 and deferring that risk to seven undisclosed insurers and reinsurers.
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  • The Mortgage Collaborative expands Affordable Lending Outreach pilot program

    Partnering with Fannie Mae, TMC members are offering more loans for manufactured homes
    The U.S. is in the middle of an affordable housing crisis. That’s because median national rents have been rising much faster than wages and there are few builders focused on affordable housing units. Recognizing this problem, The Mortgage Collaborative launched its Affordable Lending Outreach pilot program with Fannie Mae last year, and has extended the program this year.
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  • Hensarling’s Hail Mary: Top Republican unveils sweeping bipartisan housing finance reform bill

    Would wind down Fannie Mae and Freddie Mac, elevate Ginnie Mae
    It’s now officially been 10 years since the government took Fannie Mae and Freddie Mac into conservatorship. And in that decade, an uneasy status quo has developed with Fannie and Freddie dominating the housing finance system, despite their limited capital bases and unresolved position as wards of the federal government. But if House Financial Services Committee Chairman Jeb Hensarling has anything to say about it in his final days in office, all of that uncertainty will soon be resolved.
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  • Top housing groups push Trump administration, Congress to enact permanent GSE reform

    Housing industry’s biggest acronyms want formalized, stable changes
    With the 10-year anniversary of the government taking Fannie Mae and Freddie Mac into conservatorship nigh upon us, a coalition of the housing industry’s largest trade groups, affordable housing advocates, and others is calling on the Trump administration and Congress to enact permanent reforms to the government-sponsored enterprises.
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