A securitization trustee is petitioning the Supreme Court to hear New York’s Foreclosure Abuse Prevention Act, but the wheels of justice turn slowly, in the interim the law raises concerns for various industry stakeholders. “They haven’t decided whether to review it or not, but that will be conferenced by the justices of the Supreme Court,” […]
FAPA disrupts market as petition pends before Supreme Court Read More »
While Fannie Mae has “retired” the term appraisal waiver from its seller guide, the change in the latest update, which could have the most impact on consumers involves the reconsideration of value policy. The Fannie Mae announcement is SEL-2025-07. Freddie Mac put out a similar ROV update on Wednesday in its bulletin 2025-12. Some of
Fannie, Freddie update reconsideration of value rules Read More »
Rithm Capital announced a new acquisition that adds an insurance business and further boosts its efforts to grow beyond its real estate roots toward asset management. The New York-based company and parent to mortgage lender Newrez will purchase alternative investment firm Crestline Management, a firm currently responsible for $17 billion in assets. Based in Fort
Rithm Capital moves into insurance with new acquisition Read More »
Keefe, Bruyette & Woods, while still expecting robust profits from Fannie Mae and Freddie Mac, has dimmed its outlook on both companies’ earnings per share potential as probabilities for a release from conservatorship increase. The stock rating for both are, and will remain at, underperform. KBW, in its fine-tuning of the earnings models, reduced earnings
KBW lowers its Fannie Mae, Freddie Mac profit projections Read More »
The battle between Federal Reserve Board Governor Lisa Cook and the Trump Administration over mortgage fraud allegations and their implications intensified this week. Cook filed a temporary restraining order and issued court summons to several high profile officials in a lawsuit filed to block attempts to fire her over alleged misrepresentation, and housing regulator Bill
Pulte posts new criminal referral as Cook escalates lawsuit Read More »
The U.S. Mortgage Insurers repeated its commitment for members to work with the Federal Housing Finance Agency to implement VantageScore 4.0. In an Aug. 27 blog post, the group said it welcomed FHFA Director Bill Pulte’s announcement permitting Fannie Mae and Freddie Mac to accept loans using the VantageScore 4.0 algorithm and its members will
Mortgage insurers commit to using VantageScore 4.0 Read More »
The Federal Housing Administration, which receives the largest share of mortgage applications among the government guarantors, is adopting the UAD 3.6 appraisal format going into place in the conforming market. The new UAD 3.6 Uniform Residential Appraisal Report is replacing traditional boilerplate forms which are currently being used, such as the Fannie Mae 1004. But
FHA adds momentum to new appraisal format’s use Read More »
The oversight agency for two government-sponsored enterprises greenlighted plans for industry giant Rocket Cos. to buy megaservicer Mr. Cooper, but only under certain conditions. Fannie Mae and Freddie Mac’s regulator will require the new combined company to have “appropriate financial and operating safeguards.” Their regulator specifically is requiring them to each maintain “strict counterparty risk
GSEs’ regulator allows Rocket-Mr. Cooper combo with caveats Read More »
President Trump’s attempt to fire Federal Reserve Governor Lisa Cook over mortgage fraud allegations has been called part of a larger crackdown, which suggests there could be value in looking at potential changes it points to for lenders. Housing regulator Bill Pulte has claimed alleged fraud findings like Cook’s are not political, in contrast to
Cook allegations suggests new mortgage fraud priorities Read More »
The latest mortgage interest rate drop didn’t change refinancing incentives in the conventional securitized market, but a subsequent decline could, a new FHN Financial report shows. Primary mortgage rates’ dropped roughly 20 basis points in the past month to around 6.6%. The largest range of loans bucketed together in the securitized market and exposed to
Why the next rate drop could unlock a $300B refi wave Read More »