American Banker, May 3, 2016–Berry, Kate
The Consumer Financial Protection Bureau is expected to issue a proposal Thursday that would limit the use of arbitration clauses on millions of financial contracts from cell phones to credit cards to checking accounts.
National Mortgage News, May 4, 2016–Sinnock, Bonnie
Freddie Mac’s second quarterly loss in less than a year makes it clear profitability is getting tougher as it shrinks. But it’s a concern that must be weighed against more long-term efforts to reduce Freddie’s overall credit risk exposure.
National Mortgage News, May 4, 2016–Finkelstein, Brad
PHH Corp. lost $30 million in the first quarter of 2016, as the company took a $10 million pretax reduction to the fair market value of its mortgage servicing rights.
National Real Estate Investor, May 5, 2016–Smith, Geoff; Thomas, Jay
There’s no doubt that now is an interesting time in the mortgage market for multifamily assets located in secondary locations, brimming with potential, promise and uncertainty.
National Real Estate Investor, May 4, 2016–Mattson-Teig, Beth
Although fundraising remains strong by historical standards, new capital flowing into global private equity real estate funds took a big step back in first quarter.
HousingWire, May 4, 2016–Swanson, Brena
Nationstar Mortgage Holdings’ earnings followed in the steps of Freddie Mac and Walter Investment Management Corp. as its earnings took a hit from the first quarter’s historically low interest rates.
Bloomberg, May 4, 2016–Levine, Matt
The new rules demystify some of the magic of banking. They force counterparties to examine the trick more closely, and to confront the fact that it covers up but doesn’t quite eliminate risk.
Associated Press, May 5, 2016–Gordon, Marcy
Mortgage giant Fannie Mae posted net income of $1.1 billion for the first quarter, down from a year ago as declining interest rates reduced the value of the financial instruments it uses to hedge against rate swings.
MarketWatch, May 5, 2016–Riquier, Andrea
Fannie Mae CEO Fannie CEO Tim Mayopoulos called it “not sustainable” to operate without capital just after his company reported a $1.14 billion profit in the first three months of the year, the 17th consecutive quarter of profitability.
HousingWire, May 5, 2016–Gaffney, Jacob
For all the calls to reduce the roles Fannie Mae and Freddie Mac play in the mortgage finance world, Timothy Mayopoulos shared this point: Private capital is “unwilling to step in” to replace the government-sponsored enterprises as mortgage finance leaders in the secondary market.
