DS News, July 17, 2018–Radhika OjhaThe shareholders contended that the Treasury and the Federarl Housing Finance Agency exceeded their statutory authority under the Housing and Economic Recovery Act of 2008 and challenged an agreement between the FHFA as conservator to Fannie Mae and Freddie Mac and the Treasury Department.
Category: Top National News
Fed’s Powell: Gradual Rate Hikes Likely But Trade Fights are Starting to Hurt the Economy
USA Today, July 17, 2018–Paul DavidsonFederal Reserve Chairman Jerome Powell said Tuesday the central bank plans to continue raising interest rates gradually amid a solidly growing economy and rising inflation but acknowledged the widening negative effects of U.S. trade skirmishes with other countries.
Nationstar Mortgage Plans More Cost Cuts Ahead of WaMu Acquisition
National Mortgage News, July 17, 2018–Bonnie Sinnock (subscription)A new round of expense reductions is getting underway at Nationstar Mortgage as the company moves toward its acquisition by WMIH Corp., a shell company holding Washington Mutual legacy businesses.
Four States Sue Federal Government over GOP Property Tax Law Changes
HousingWire, July 17, 2018–Ben LaneFollowing through on a threat made in January, New York, Connecticut, Maryland, and New Jersey are suing the federal government over the Republican-led tax reform bill, which President Donald Trump signed into law late last year.
Outlook Improves for Home Purchase Financing
Mortgage Daily, July 18, 2018Fannie Mae raised its forecast for the origination of loans to finance single-family home purchases for both this year and next year.
Over $6 Billion in GSE Mortgages Sold
Mortgage Daily, July 17, 2018The sale involved four Fannie Mae pools containing a total of 26,900 single-family loans that have a collective unpaid principal balance of $6.14 billion.
Goldman Sachs CEO Lloyd Blankfein Retiring; David Solomon to Take Over
HousingWire, July 17, 2018–Ben LaneGoldman Sachs announced Tuesday that Blankfein will be stepping down as CEO and chairman of the board of directors on Sept. 30, 2018. Upon his retirement, Blankfein will assume the title of senior chairman. Solomon will take over as CEO and join the firm’s board on Oct. 1.
FHFA, Like CFPB, Finds Its Constitutionality in Doubt
National Mortgage News, July 17, 2018–Hannah Long (subscription)The question of what are appropriate checks on independent regulators continues to be a focus for courts around the country, but the issue has now extended way beyond the Consumer Financial Protection Bureau.
As CRE Lending Landscape Shifts, Nonbank Lenders Step Up
Forbes, July 16, 2018–Evan GentryEven though CRE loans celebrated a record-breaking year in 2017, according to a Mortgage Bankers Association report, the CRE market also started to see slowing property value growth and decelerating property sales.
Real Estate Pros are a Diverse Bunch, Let’s Find More
Mortgage Professional America, July 16, 2018–Steve RandallCareer Building Communities is a collaboration of 29 real estate organizations, representing more than 10 million jobs, with the mission to highlight diverse career paths available in the industry. The Mortgage Bankers Association is among those who have joined the initiative.