HousingWire, Nov. 16, 2015–Swanson, Brena
There is no urgency to lower mortgage insurance premiums right now, David Stevens, Mortgage Bankers Association president and CEO, said following the Federal Housing Administration’s 2015 Actuarial Report released on Monday.
The Hill, Nov. 16, 2015–Needham, Vicki
The Federal Housing Administration’s Mutual Mortgage Insurance Fund on Monday eclipsed a key benchmark for the first time since the financial crisis, reflecting an improvement in the agency’s health and steering it well clear of another taxpayer infusion, according to an independent analysis sent to Congress. David Stevens, president and CEO of the Mortgage Bankers Association, urged policymakers to look carefully at the Home Equity Conversion Mortgage, the FHA’s reverse mortgage program that enables withdrawal of home equity.
HousingWire, Nov. 16, 2015–Galante, Carol
Former FHA administrator said report validates that the policies put in place by FHA over the last 7 years have enabled FHA to strengthen its financial position while also strengthening the economy and providing access to mortgage credit.
Washington Post, Nov. 16, 2015–McGregor, Jena
Monday evening, the U.S. House of Representatives voted to approve a bill that would suspend new annual target compensation of $4 million each for Freddie Mac CEO Donald Layton and Fannie Mae CEO Timothy Mayopoulos. If signed into law by President Obama, the bill would return the cap on their pay to $600,000.
National Mortgae News, Nov. 16, 2015–Peters, Andy
Mortgage delinquency rates continued their double-digit yearly declines in the third quarter, according to TransUnion.
National Mortgage News, Nov. 16, 2015–Peters, Andy
The number of underperforming loans transferred to special-servicing status dropped in October, according to Fitch Ratings.
Washington Post, Nov. 15, 2015–Samuelson, Robert
The safest course for the White House and Congress has been to save the GSEs and enlist them in the housing recovery. So that’s what they did–and that’s how Fannie and Freddie survived.
New York Times, Nov. 13, 2015–Prevost, Lisa
Rising home prices are raising equity levels, and homeowners are cashing in on these gains.
National Mortgage News, Nov. 13, 2015–Lindorff, David
In the wake of the financial crisis, only one bank is believed to have faced a criminal trial on charges of mortgage fraud. A Jury in New York state court acquitted the bank of all charges this summer.
Atlanta Business Chronicle, Nov. 4, 2015
Data from the latest Equifax National Consumer Credit Trends Report show total mortgage originations rose to $1.2 trillion through the first nine months of 2015–up 63 percent over the same period a year ago. But at the same time, total mortgage and home equity balances were $8.84 trillion at the end of September–virtually flat with figures from the past 18 months.
