Bloomberg, Nov. 3, 2021–Claire Ballentine, Charlie WellsIt has been a tumultuous few days for the real estate company. On Tuesday, the firm announced it would be shutting down its much-vaunted …
Category: Top National News
Freddie Mac Spurs Landlords to Report On-Time Rent Payments
HousingWire, Nov. 3, 2021–Georgia KromreiFreddie Mac wants to encourage multifamily landlords to report positive rental payments to the credit bureaus to give renters a better shot at qualifying for a …
Proposed GSE Housing Goals for Multifamily Causing Anxiety
Inside Mortgage Finance, Nov. 2, 2021–Dennis HollierThe Federal Housing Finance Agency’s proposed affordable housing goals for Fannie Mae and Freddie Mac from 2022 through 2024 have received almost universal approval …
New York Extends CRA Requirements to Nonbank Mortgage Companies
Banking Dive, Nov. 2, 2021–Robin BradleyNew York Gov. Kathy Hochul signed a bill Monday to expand the New York Community Reinvestment Act to nondepository mortgage lenders. The legislation aims to …
Servicers Prepare for $10B Homeowner Assistance Fund
HousingWire, Nov. 1, 2021–Flávia Furlan NunesRoughly seven months after it was established, the $10 billion federal Homeowner Assistance Fund is expected to begin approving state plans in the coming weeks. …
Earnings Decline for the GSEs in 3Q but Net Worth Keeps Heading North
Inside Mortgage Finance, Oct. 29, 2021–Paul Muolo, Dennis HollierFannie reported net earnings of $4.8 billion for the third quarter, a sequential decline of 32.3% while “little brother” Freddie earned $2.9 …
Mr. Cooper is on the Hunt to Buy More Mortgage Servicing Portfolios
National Mortgage News, Oct. 28, 2021–Brad Finkelstein (subscription)As origination margins continue to compress, some lenders are looking to sell bulk mortgage servicing rights portfolios to make up for the lost …
U.S. House Prices Are Exponentially Outpacing Income
National Mortgage Professional, Oct. 28, 2021–Navi PersaudA new report published by Real Estate Witch reported that income is failing to keep up with the pace of rising house prices in …
OCC Sanctions Subservicer Cenlar for Poor Risk Controls
HousingWire, Oct. 27, 2021–Flavia Fulan NunesThe Office of the Comptroller of the Currency issued a consent order against Cenlar FSB, the nation’s second-largest mortgage servicer, over “unsafe or unsound practices,” …
FHFA Proposes New Disclosure Requirements for Fannie and Freddie
National Mortgage News, Oct. 27, 2021–Hannah Lang (subscription)The Federal Housing Finance Agency is proposing public disclosure requirements for Fannie Mae and Freddie Mac that would closely align with international standards …