HousingWire, Sept. 13, 2017–Ben LaneFor the third time this year, Fannie Mae and Freddie Mac are lowering the benchmark interest rate for standard mortgage modifications. And unlike last time, both of the government-sponsored enterprises are changing their respective benchmark rates at the same time.
Category: Top National News
Fannie Mae Selling $2.43 Billion in Re-Performing Loans to Goldman Sachs Subsidiary
HousingWire, Sept. 13, 2017–Ben LaneFannie Mae initially announced the sale last month, originally stating that the sale would include a pool of about 11,000 loans totaling nearly $2.5 billion in unpaid principal balance.
Federal Trade Commission Investigating Equifax Data Breach
Wall Street Journal, Sept. 14, 2017–AnnaMaria Andriotis (subscription)The Federal Trade Commission Thursday said it is investigating the Equifax data breach, adding to the mounting investigations into the credit-reporting company since the attack was disclosed last week.
As Uncertainty Swirls, CFPB Keeps on Regulating
National Mortgage News, Sept. 14, 2017–Kate Berry (subscription)The Consumer Financial Protection Bureau may face an unsteady political environment and the potential of a leadership shakeup, but a new CFPB report on the agency’s supervisory priorities has experts warning banks not to rest on their laurels.
Irma-Related Damage Could Affect Billions of Dollars in CMBS
National Mortgage News, Sept. 14, 2017–Elina Tarkazikis (subscription)Damage from Hurricane Irma could affect some $26.6 billion in commercial mortgage-backed securities, according to Morningstar Credit Ratings.
Mnuchin Demurs on Question of GSEs’ Capital
National Mortgage News, Sept. 14, 2017–Kate Berry (subscription)Despite a direct request by six Democratic senators that Fannie Mae and Freddie Mac be allowed to rebuild capital, Treasury Secretary Steven Mnuchin on Thursday did little to clarify the administration’s thinking on the issue.
GSE Refis Sink to 27-Month Low, All-Time HARP Low
Mortgage Daily, Sept. 14, 2017The monthly number of government-sponsored enterprise mortgages refinanced tumbled to a two-year low. Government-supported refinances plunged to a record low.
Starkey Mortgage Rebrands as Certainty Home Loans
HousingWire, Sept. 14, 2017–Brena SwansonPlano, Texas-based Starkey Mortgage announced it is rebranding the company and changing its name to Certainty Home Loans, effective Oct. 2.
MBA Calls for Change to HUD Disaster Policy
National Mortgage News, Sept. 15, 2017–Bonnie Sinnock (subscription)At the heart of the MBA’s concern is the Department of Housing and Urban Development’s interpretation of policy that determines when lenders can re-inspect homes.
Could Homeowners See Their Beloved Mortgage Interest Deduction Threatened by Tax Reform?
Dallas News, Sept. 15, 2017–Tom BenningThe perk that so many tout as critical to boosting homeownership could be threatened as Congress pursues what would be the first major overhaul of the tax code in three decades.