HousingWire, Feb. 7, 2017–Brena SwansonHouse Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, told Stuart Varney on Fox Business that “personnel is policy” and urged President Trump to immediately fire Richard Cordray, head of the Consumer Financial Protection Bureau.
Category: Top National News
Former Ginnie Mae President: An Open Letter to Dr. Carson
HousingWire, Feb. 7, 2017–Joseph MurinMurin said Ginnie Mae has become a “driver” in the American economy.
House Reintroduces Bill to End ‘FICO Monopoly’ at Fannie Mae and Freddie Mac
HousingWire, Feb. 8, 2017–Brena SwansonThis week Reps. Ed Royce, R-Calif., Kyrsten Sinema, D-Az., and Terri Sewell, D-Al., introduced H.R. 898, the Credit Score Competition Act, which enables the GSEs to consider alternative credit scoring models when making mortgage purchasing decisions.
A Private Mortgage Insurer’s View on the FHA Mortgage Insurance Premium Suspension
HousingWire, Feb. 8, 2017–Brena SwansonWhen HUD announced it suspended the reduction of FHA mortgage insurance premiums, it helped the private mortgage insurance market retain $10 billion in volume.
Low Rates Drive 42% Increase in Genworth’s MI Volume
National Mortgage News, Feb. 8, 2017–Brad FinkelsteinGenworth Financial’s U.S. mortgage insurance business had adjusted operating income of $61 million in the fourth quarter, up over 50% from the same period in 2015, as its new insurance written grew by 42% year over year.
Radian Taps Richard Thornberry to Succeed Retiring CEO Ibrahim
National Mortgage News, Feb. 9, 2017–Jacob PassyRadian Group appointed former CitiMortgage president Richard Thornberry as its new chief executive officer to succeed the retiring S.A. Ibrahim.
Ginnie MBS Outstanding at All-Time High
Mortgage Daily, Feb. 9, 2017As of Jan. 31, there were $1.7865 trillion in Ginnie Mae mortgage-backed securities outstanding. That marked the biggest book of business ever for the government-owned corporation based on its own historical numbers going back to 1990.
Cash-Out Refis Back in Demand, Raising Credit Concerns
National Mortgage News, Feb. 9, 2017–Andy PetersThe rise in home values is good news for homeowners looking to tap the equity in their homes to pay down debt or make big purchases, but some consumer groups fear it could lead to a new wave of loan defaults.
Mortgage Complaints Improve More than Overall
Mortgage Daily, Feb. 9, 2017During the final month of last year, there were 22,852 complaints that were filed by U.S. consumers with the Consumer Financial Protection Bureau.
Investors Reach $40 Million Settlement Over Sears Real Estate Deal
Reuters, Feb. 9, 2017–Tom HalsSears Holding Corp. Chairman and CEO Eddie Lampert and the company’s board agreed to a $40 million settlement of a shareholder lawsuit that alleged Lampert benefited from a deal to spin off 235 of the struggling chain’s best stores.