MBA, Trade Groups Urge Congress to Ban GSE G-Fee Offsets
The Mortgage Bankers Association and nearly three dozen other industry trade groups, in a Mar. 6 letter to House and Senate leadership, urged Congress to continue to prevent use of Fannie Mae and Freddie Mac guarantee fees as a source of funding offsets.
MBA, Trade Groups Renew Pressure for Senate Action on Montgomery, Woll Nominations
Last October, the Trump Administration nominated FHA Commissioner Brian Montgomery to serve as HUD Deputy Secretary. Despite a favorable vote by the Senate Banking Committee and strong support from trade groups such as the Mortgage Bankers Association, a Senate confirmation vote has yet to take place.
CFPB Implements Advisory Opinion Program, Amends ‘Responsible Business Conduct’ Bulletin
The Consumer Financial Protection Bureau on Friday announced several Mortgage Bankers Association-recommended steps to offer clear guidance to lenders and servicers.
Portfolio Risk Management: Repurchase Risk for Non-QM Mortgages
In the wake of the 2008 global financial crisis, many risk managers in the mortgage issuance industry were caught flat-footed with representations and warranties exposure, also commonly known as repurchase exposure. R&W agreements often require the issuer of mortgages to repurchase the loans and make whole the investors if the loans are found to breach the seller guidelines.
2019 Home-Flipping Reaches 8-Year High; Returns at 8-Year Low
ATTOM Data Solutions, Irvine, Calif., released its year-end 2019 U.S. Home Flipping Report, which showed 245,864 single family homes and condos in the United States flipped in 2019, up 2 percent from 2018 to the highest point since 2006.
