The Federal Housing Association is likely to continue to take market share away from the private mortgage insurers for the foreseeable future, a Keefe, Bruyette & Woods report said. Insurance-in-force for all forms of mortgage insurance grew by 1.3% between the first and second quarters and by 5.5% year-over-year, the report from Bose George and […]
FHA poised to outpace private mortgage insurers Read More »
The oversight agency for two government-sponsored enterprises sent out an image from President Trump over the weekend depicting a public offering for some of their shares near term but experts question the timing. The illustration from President Trump’s Truth Social post, like some others he’s posted around his policy initiatives, is designed to depict an
President Trump envisions November launch for mortgage IPO Read More »
Freddie Mac has expanded its program for loans on real-property factory-built homes that have features in common with traditional houses like pitched roofs, attached garages and permanent foundations. The government-sponsored enterprise said it is now buying single-section CrossMod homes loans for the first time, making it possible for borrowers to get reduced rates for housing
Why there’s renewed interest in financing factory-built homes Read More »
The Trump administration is preparing to sell shares of Fannie Mae and Freddie Mac in an offering that could start as early as this year, according to a senior administration official. The plan could value the government-controlled mortgage giants at some $500 billion or more and would involve selling between 5% and 15% of their
Fannie, Freddie $30 billion IPO being weighed for this year Read More »
In an interview with National Mortgage News, former Federal Home Loan Bank of Chicago executive Steve Thomas complained about the current lack of product development in the mortgage business. That is likely because of a reluctance among lenders to create those unique programs outside of the agency and government spectrums especially since Monday morning quarterbacks
Breaking the mold: new mortgage products emerge Read More »
The Mortgage Bankers Association announced Wednesday that its Residential Board of Governors has passed a resolution calling for two influential government-sponsored enterprises to end their requirements for tri-merged credit reports. The move follows FHFA’s decision to allow score competition without changing tri-merge rules, and MBA’s earlier plan to explore the viability of using a single
MBA urges GSEs to end costly tri-merge credit reports Read More »
Fannie Mae and Freddie Mac’s regulator announced additional leeway for them to invest more heavily in low-income housing tax credits in line with the passage of recent legislation. Each can now invest up to $2 billion for a total of $4 billion per year, twice the previous limit, according to a press release from U.S.
Fannie Mae and Freddie Mac’s regulator raising LIHTC limits Read More »
Angel Oak Mortgage REIT eked out a profit in the second quarter but missed Wall Street expectations partially due to a note offering. The non-qualified mortgage player Tuesday reported net income of $767,000 for the period, well below an S&P Capital IQ consensus mean estimate of $6.34 million. The real estate investment trust’s quarterly results
Angel Oak bets on non-QM in volatile Q2 report Read More »
Rithm Capital announced it has entered into an agreement to purchase $1 billion worth of loans from lending fintech Upgrade. The forward-flow agreement between the real estate investment trust and the San Francisco-based neobank has Rithm acquiring $1 billion worth of home improvement loans originated and serviced by Upgrade over the coming year. The deal
Rithm buys $1B in home reno loans from Upgrade Read More »
Frank Cassidy, the acting Federal Housing Association commissioner, has apparently been nominated for the job on a full-time basis. The Mortgage Bankers Association put out a statement on Aug. 2 in support of Cassidy’s appointment. His current title at HUD is principal deputy assistant secretary, and he was nominated to the position by the Trump
Frank Cassidy nominated as Federal Housing Commissioner Read More »