Category: Top National News

National Mortgage News, Feb. 17, 2017–Jacob Passy (subscription)Fannie Mae reported higher net income in the fourth quarter over the previous year.

National Mortgage News, Feb. 17, 2017–Brad Finkelstein (subscription)The change of power in the White House will not affect Fannie Mae’s focus for 2017 in bringing innovations similar to the Day 1 Certainty program to its customers, CEO Timothy Mayopoulos said in an interview.

GoRion, Feb. 17, 2017–Kerry CurryFannie Mae’s backing of Invitation Homes’ recently completed IPO bodes well for the future of the single-family rental market as the government-sponsored enterprise’s decision to securitize a $1 billion loan adds an important layer of credibility.

Bloomberg, Feb. 17, 2017–Joe LightKushner Cos. has apartment buildings from New Jersey to Maryland with more than $500 million in government-backed mortgages financed by Fannie Mae and Freddie Mac. That could put officials at those agencies in an awkward spot: If Kushner Cos. applies for a new loan, or wants to refinance, would Freddie turn them down? If Kushner Cos. fails to comply with the terms of a loan, will Fannie seek to foreclose on a property owned by the president’s in-laws?

Mortgage Daily, Feb. 17, 2017Nearly $800 million in distressed government-sponsored enterprise residential loans have been put on the auction block.

Mortgage Daily, Feb. 21, 2017MGIC has relaxed some of its underwriting guidelines. Among the changes are higher loan-to-value ratios, increased loan amounts and reduced credit scores.

National Mortgage News, Feb. 17, 2017–Kevin Wack (subscription)Ocwen Financial has reached a deal with California authorities to resolve allegations that the mortgage servicing firm–a frequent target of regulators in recent years–again violated a range of state and federal laws.

National Mortgage Professional, Feb. 16, 2017–Phil HallWhat is the true cost of homeownership? According a new data analysis from Zillow, today’s typical monthly mortgage payment requires more of the average household income than it has anytime in the previous six years.

Bloomberg, Feb. 7, 2017–Steven T. Dennis; Elizabeth DexheimerPresident Donald Trump’s pledge to dismantle the Dodd-Frank financial overhaul is colliding with the same reality as his pledge to gut Obamacare: The Republican majority in Congress can’t decide how to make it happen and Democrats are vowing to fight.

HousingWire, Feb. 7, 2017–Brena SwansonThe move mostly points to an already existing act championed by House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, to replace Dodd-Frank, a blog post from Mayer Brown attorneys Laurence Platt and Joy Tsai said.