Category: Top National News

National Mortgage News, June 11, 2019–Brad Finkelstein (subscription)Prepayment speeds for loans included in agency mortgage-backed securities were up approximately 20% both monthly and annually during May as the decline in interest rates boosted activity, a report from Keefe, Bruyette & Woods said.

Wall Street Journal, June 12, 2019–Ryan Dezember (subscription)The investment house known for corporate takeovers has agreed to pump another $250 million into Toorak Capital Partners LLC, which buys short-term loans made to real-estate investors who purchase, renovate and resell residential properties.

National Mortgage News, June 10, 2019–Bonnie Sinnock (subscription)Ginnie Mae is examining whether the shift in business to nonbank issuers has implications for its ability to guarantee mortgage securities payments beyond those it has historically looked at.

Bloomberg, June 10, 2019–Adam TempkinFreddie Mac is making its first foray into green bonds, starting a new commercial mortgage-backed security program backed by loans to apartment building owners who agree to make their properties more environmentally friendly.

HousingWire, June 10, 2019–Jessica GuerinOcwen Financial announced Monday it hit two milestones enabling the company to officially service loans through its two primary brands: PHH Mortgage for forward servicing and lending, and Liberty Home Equity Solutions for reverse lending and servicing.

Wall Street Journal, June 9, 2019–Sara Krouse (subscription)America’s telecommunications regulator passed rules last week that will let phone companies automatically block more robocalls. It hasn’t yet said what, exactly, constitutes such a call.

HousingWire, June 7, 2019–Ben LaneAccording to the FHA’s quarterly report for its fiscal second quarter, the average credit score for an FHA borrower fell to 665 in the second quarter. That’s the lowest level since 2008, and is “well below” the FHA lending peak credit score of 703, which happened in 2011.

Wall Street Journal, June 10, 2019–Andrew Ackerman, Gabriel T. Rubin (subscription)Trump-appointed regulators came into office saying they would pare back Wall Street’s postcrisis rulebook. More than two years into the administration’s tenure, most of the work remains unfinished, particularly for the biggest banks.

Bloomberg, June 10, 2019–Saleha Mohsin, Austin WeinsteinTreasury Secretary Steven Mnuchin made clear that freeing Fannie Mae and Freddie Mac from U.S. control won’t happen without a major overhaul of the nation’s housing finance system, potentially dashing investors’ hopes that they might soon make a windfall from their stakes in the mortgage giants.

National Mortgage News, June 7, 2019–Hannah Lang (subscription)The Trump administration has said it welcomes legislative reform to fundamentally restructure Fannie Mae and Freddie Mac. But the Federal Housing Finance Agency has also made clear that it stands willing to do the heavy lifting itself.