Wells Fargo & Company announced this week that the bank’s head of Home Lending Default, Perry Hilzendeger, has been named the new head of Home Lending Servicing.
Read More »House Votes to Eliminate G-Fee Use to Fund DRIVE Act
The U.S. House of Representatives voted on Thursday to pass an amendment eliminating the use of guarantee fees on mortgages backed by Fannie Mae and Freddie Mac to fund a controversial $47 billion transportation bill known as H.R. 22, or the Developing a Reliable and Innovative Vision for the Economy Act.
Read More »Fannie Mae’s Net Income Reaches $2 Billion in Q3
Two days after fellow GSE Freddie Mac reported a net loss of $475 million for Q3, Fannie Mae reported a net income of $2 billion for the third quarter and a comprehensive income of $2.2 billion.
Read More »House Committee Passes Bills For Increased Accountability Among Financial Regulators
The House Financial Services Committee on Wednesday announced the passage of several bills aimed at directed at improving transparency and accountability of the Financial Stability Oversight Council, an agency created out of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
Read More »Freddie Mac Posts Net Loss of $475 Million in Q3
Freddie Mac reported a net loss of $475 million for Q3 2015 in its 10-Q filing with the Securities and Exchange Commission on Tuesday, the first time the GSE has reported a quarterly net loss in four years.
Read More »Housing Market Conditions Ideal for Fix-and-Flip Investors, Survey Finds
In a nationwide survey of real estate investors bidding on single-family residential properties offered for auction during the third quarter of 2015, online real estate marketplace Auction.com found that flipping is still the preferred strategy over hold-to-rent.
Read More »Ocwen Reports Net Loss of $66.8 Million in Q3
On Wednesday, Ocwen reported a net loss of $66.8 million for the third quarter in 2015 compared to a net loss of $75.3 million for the same quarter a year earlier.
Read More »Cash Sales Hit Lowest Point Since 2006
All-cash transactions comprised nearly 31 percent of all single-family residential home sales nationwide in July 2015, marking a decline of more than three full percentage points year-over-year, according to CoreLogic cash sales data released on Friday.
Read More »Mortgage Overregulation Hinders Industry, Survey Shows
Approximately three-quarters of mortgage industry professionals believe that today’s regulatory environment prevents them from lending to creditworthy borrowers.
Read More »Main Street Regulatory Relief Bills Backed By Bipartisan Group
As part of Washington’s continued focus on reducing regulatory burden for Main Street, the House Financial Institutions and Consumer Credit Subcommittee convened on Wednesday to discuss a series of recently proposed bills aimed at achieving this goal.
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