DS News, Mar. 30, 2016–Honea, Brian
Fannie Mae’s gross mortgage portfolio resumed its contraction in February following a rare month of expansion in January, according to the GSE’s Monthly Volume Summary for February 2016.
Category: Top National News
Bankers Battle FHFA Plan to Let GSEs Buy Tax Credits
National Mortgage News, Mar. 30, 2016–Collins, Brian
Bankers are fighting back against a plan that would allow Fannie Mae and Freddie Mac to invest in low-income housing tax credits, arguing they are critical for meeting Community Reinvestment Act requirements.
A New Name of the Game at Nationstar
Wall Street Journal, Mar. 29, 2016–Light, JoeNationstar Mortgage Holdings Inc., which made its name servicing delinquent loans, this summer plans to rename itself “Mr. Cooper.” Foreclosure sales company Auction.com in January rebranded as “Ten-X.” Mortgage-services firm Altisource Portfolio Solutions last year bought rental-data firm RentRange and real-estate-investment website Investability.
CFPB Sees Surge in Debt Collection Complaints from Military Members
National Mortgage News, Mar. 29, 2016–Tymesen, Tana
Military families and service members are submitting debt collection complaints to the Consumer Finance Protection Bureau at twice the rate of other consumers.
GE Files to End Fed Oversight After Shrinking GE Capital
Wall Street Journal, Mar. 31, 2016–Mann, Ted
General Electric Co. formally asked to be released from supervision by the Federal Reserve on Thursday, saying it has sufficiently shrunk its once-massive financial services arm so it would no longer pose a systemic threat to the financial system.
Ginnie Mae to Test Pools of Loan Mods
National Mortgage News, Mar. 31, 2016–Sinnock, Bonnie
Ginnie Mae, the government agency that guarantees securitizations of Federal Housing Administration-insured loans is experimenting with a pool type that consists only of modifications and reperforming loans.
AMI to CFPB: Don’t Ignore Investor Concerns, TRID Does Cause Issues
HousingWire, Mar. 31, 2016–Swanson, Brena
The initial shockwave from TRID is over, replacing beginning fears and worries with solid evidence of what the new rule is doing to the mortgage industry.
Debt Markets: Choppy Trading Has No End in Sight
Wall Street Journal, Mar. 31, 2016–Zeng, Min
Bond investors are bracing for a turbulent second quarter as they struggle to reconcile surging U.S. employment with some of the lowest bond yields in years.
Why Fannie and Freddie Cannot Be Recapitalized
Wall Street Journal, Apr. 4, 2016–Carney, John
The chances of Fannie Mae and Freddie Mac being released from conservatorship are extremely low, Carney says. A far more probable outcome: that they get wound down and replaced by a new system, perhaps along the line of the National Mortgage Reinsurance Corporation recently outlined in a paper by Jim Parrott, Lew Ranieri, Gene Sperling, Mark Zandi and Barrry Zigas.
RMBS Slowly Moving Back Into Portfolios
Pensions and Investments, Apr. 4, 2016–Jacobius, Arleen
Institutional investors are moving back into residential mortgage-backed securities, even as lawsuit settlements are giving them back some of the money they lost on RMBS investments made before the financial crisis.