The government-sponsored enterprises’ exit from conservatorship could be unexpected and quick, the senior vice president of mortgage finance policy at the Independent Community Bankers of America said. While a methodical process may take place, he wouldn’t be surprised if the opposite happens, Ron Haynie said, speaking during an online presentation from Lenders One and the […]
GSEs could exit conservatorship fast, experts say Read More »
The New York Supreme Court has weighed in on a contractual dilemma Wells Fargo has reportedly faced as a residential mortgage-backed securities trustee with a responsibility to oversee investor payment distributions impacted by unforeseen policy changes. A judge has ruled on how trustees and servicers should handle forborne principal from loans in the now-defunct Home
New ruling answers legacy mortgage bond servicing question Read More »
Getty Images President Donald Trump paid a rare visit to the Federal Reserve Board headquarters Thursday afternoon to confront Fed chair Jerome Powell over cost overruns related to a building renovation project that began in 2022. Trump and other members of his administration have raised the cost overruns related to the Federal Reserve’s renovation —
Trump, Powell tussle over renovation costs in rare visit Read More »
Barry Habib, long-time mortgage industry trainer and pundit who is the founder and CEO of MBS Highway, has been named to the Fannie Mae board. Prior to starting MBS Highway, Habib put out the Mortgage Market Guide. He was also an executive at several lenders, including Residential Finance, RPM Mortgage and Certified Mortgage. Outside of
Barry Habib added to Fannie Mae board Read More »
Frank Gargano The Justice Department says it will appeal a lower court ruling reinstating two fired Democratic board members of the National Credit Union Administration and that found their April terminations unlawful. The Department of Justice on Wednesday filed a notice with the U.S. Court of Appeals for the District of Columbia Circuit that it
DOJ to appeal ruling reinstating fired NCUA board members Read More »
A new bill proposed in Congress would make it easier for homeowners to build accessory dwelling units on their properties, a step supporters say will help alleviate the nation’s housing affordability crisis. The legislation, called the SUPPLY Act, aims to expand access to second mortgages for homeowners who want to build an ADU by making
Bill to expand ADU financing introduced in Congress Read More »
The founder of Figure is moving to recombine the company he split into two parts just a year ago Mike Cagney, the head of the fintech firm, announced via LinkedIn that Figure, the firm’s lending arm, and Figure Markets, a blockchain-powered financial marketplace, will become one entity again. “I split the company in two last
Figure to recombine lending arm and marketplace into one entity Read More »
Sen. Raphael Warnock, D–Ga., introduced legislation Thursday to address what he called “systemic bias” in the home appraisal process. The proposal comes just one week after the Trump administration disbanded a Biden-era task force that had been focused on addressing racial bias in the housing system. The bill, called the Appraisal Modernization Act, would require
Appraisal bill introduced to counter HUD’s PAVE repeal Read More »
Recent plans for a jointly owned government-sponsored enterprise entity that serves as a common securitization platform (CSP) for their bonds appear positioned as the most likely way to achieve monetization goals the Trump administration has for Fannie Mae and Freddie Mac. Even before Common Securitization Solutions repositioned as U.S. Financial Technology experts had identified the
Why FHFA may bet on CSP to reform Fannie, Freddie Read More »
Employees at the Consumer Financial Protection Bureau are bracing for mass layoffs now that Congress has slashed the agency’s budget in half and the Supreme Court gave the Trump administration the go-ahead to gut federal agencies. Acting CFPB Director Russell Vought is expected to issue a reduction in force, or RIF, immediately after an appellate
Budget bill, SCOTUS give ‘clear path’ to CFPB firings Read More »