National Real Estate Investor, May 18, 2016–Mattson-Teig, Beth
Higher caps for Fannie Mae and Freddie Mac will deliver some welcome liquidity to a still booming multifamily investment market.
Category: Top National News
MBA’s Stevens Calls for Faster GSE Reforms
Scotsman Guide, May 17, 2016–Whitman, Victor
In a speech Monday, Mortgage Bankers Association President David Stevens said that reforms on the government-sponsored enterprises aren’t moving fast enough.
Here’s Why Freddie Mac Says the Mortgage Credit Box is So Tight
Housing Wire, May 17, 2016–Swanson, Brena
As the spring home-buying season struggles to lift off, people point to tight credit as one reason, with Freddie Mac Vice President of Affordable Lending and Access to Credit Danny Gardner weighing in on the discussion at the Mortgage Bankers Association Secondary Conference in New York City.
Housing Agency Plans Mortgage Sale Reforms After Criticism
New York Times, May 17, 2016–Goldstein, Matthew
Life may soon get tougher for private buyers of distressed mortgages from the federal government. HUD said on Tuesday that it would announce, possibly as soon as this week, a new set of rules governing the sale of mortgages formerly guaranteed by the government.
Radian CEO Ibrahim to Retire After Leading Insurer Since 2005
Bloomberg, May 17, 2016–Chiglinsky, Katherine
Radian Group Inc., the second-largest U.S. mortgage insurer, said Chief Executive Officer S.A. Ibrahim will step down at the end of next year after steering the company through the financial crisis as weaker rivals collapsed.
Share of Disposable Income Going to Mortgage Debt Hits Lowest Level Since 1980
HousingWire, May 17, 2016–Lane, Ben
Americans are “paying more attention” to their debts in the wake of the financial crisis, and because of that increased attention, the share of consumers’ disposable income that’s going to mortgage debt is now at its lowest level in 35 years.
Bank of America Wins Reversal of $1.27 Billion Penalty in U.S. Mortgage Case
Associated Press, May 23, 2016
The 2nd U.S. Circuit Court of Appeals in New York said the proof at trial was insufficient under federal fraud statutes to establish liability in connection with the “Hustle” mortgage program, which was run at the former Countrywide Financial.
Deutsche Bank Post-Crisis Mortgage Positions Probed by SEC
Bloomberg, May 23, 2016–Scully, Matt
The U.S. Securities and Exchange Commission is investigating whether Deutsche Bank AG inflated the value of securities in its mortgage-bond trading business and masked losses around 2013.
Why Ginnie Mae Plans to Stress-Test Its Issuers
National Mortgage News, May 22, 2016–Sinnock, Bonnie
Ginnie Mae wants go one step further in its monitoring of issuers’ operations. It plans to model how the liquidity of companies that issue its mortgage-backed securities would look under stress, so it can troubleshoot more effectively. Mortgage bankers have been working to help Ginnie address the resource management concern and they are open to the idea of stress tests, said MBA President and CEO David Stevens.
The Vultures’ Vultures: How A New Hedge-Fund Strategy Is Corrupting Washington
Huffington Post, May 13, 2016–Grim, Ryan; Blumenthal, Paul
Old Washington hands involved say that nothing they’ve seen before in politics has prepared them for the mercenary campaigns the hedge funds are now waging.