Bloomberg,Oct. 19, 2015–Hopkins, Cheyenne
Quicken Loans Inc., the biggest U.S. online mortgage lender, is partnering with Freddie Mac to boost business among first-time and middle-income borrowers as it battles allegations over its past underwriting practices on Federal Housing Administration-backed mortgages.
Bloomberg, Oct. 19, 2015–Hopkins, Cheyenne; Perlberg, Heather
A White House official said housing-finance reform is no longer expected in the near term as he dismissed investors’ calls for releasing Fannie Mae and Freddie Mac from government conservatorship.
Wall Street Journal, Oct. 19, 2015–Light, Joe
Obama administration officials on Monday rejected calls to release Fannie Mae and Freddie Mac from government control, signaling that it could be up to the next president or Congress to resolve the mortgage giants’ fate.
Scotsman Guide, Oct. 19, 2015–Whitman, Victor
Although comprehensive housing finance reform has been put on the back burner by Congress, mortgage giants Fannie Mae and Freddie Mac are being reformed from within, their chief executive officers said Monday.
New York Times, Oct. 19, 2015–Bray, Chad
British bank Barclays said on Monday that it had agreed to pay $325 million to settle two civil lawsuits related to the sale of residential mortgage-backed securities in the United States.
National Mortgage Professional, Oct. 12, 2015–Hall, Phil
Last week, the Consumer Financial Protection Bureau announced that it was considering the introduction of a new regulation banning the so-called “free pass” arbitration clauses that prevent consumers from filing lawsuits in groups to obtain relief against financial services companies. But does the CFPB have the legal authority to overturn Supreme Court rulings related to arbitration? The answer, according to industry experts, depends on how you view the CFPB’s actions.
HousingWire, Oct. 12, 2015–Garrison, Trey
This marks the start of the second full week of the TILA-RESPA Integrated Disclosure rule, and it’s impacting real estate and mortgage finance at almost every point along the pipeline.
Wall Street Journal, Oct. 12, 2015–Cherney, Mike
Falling profits and increased borrowing at U.S. companies are rattling debt markets, a sign the six-year-long economic recovery could be under threat.
HousingWire, Oct. 9, 2015–Swanson, Brena
The Federal Housing Administration’s share of purchase mortgage insurance steadily declined since 2010 until 2015, the latest chart in the Mortgage Bankers Association’s chart series showed.
Urban Institute, Oct. 9, 2015–Goodman, Laurie
While the securitization of loans with government backing has remained strong or strengthened, the collapse of private-label securitization may have wide-reaching implications for the mortgage market. The disappearance of this market has affected the availability and cost of mortgages for one group of borrowers–those with less wealth and less than perfect credit who do not quality for government-backed loans.
