News

According to the enterprise’s recent financial results, Freddie Mac posted a net income of $2.2 billion for Q1 and will pay as much in dividends to the U.S. Treasury. The income is lower than Q4 2016, as are the agency’s single-family revenues, purchase volumes, and mortgage-related investments. Freddie attributed these declines to largely steady interest rates and low market spreads.

The House Financial Services Committee held a second hearing on the Financial CHOICE Act on Tuesday. Intended to be a replacement for Dodd-Frank, the CHOICE Act aims to increase regulator accountability, discourage financial fraud and insider trading, and ensure taxpayers aren't on the hook for big bank bailouts. The Act was introduced by Rep. Jeb Hensarling (R-Texas).

Ocwen's shares are finally starting to recover since the CFPB and 21 states filed suit against it last month. Following an announcement that New Residential Corporation will acquire Ocwen's mortgage servicing rights, the company's stock rose 46 percent at one point, reaching $3.32 at its highest. Ocwen's shares had dropped more than 50 percent after April's legal allegations.

ATTOM Data Solutions, a national property database, and Auction.com, an online real estate marketplace, announced Tuesday that Home Disclosure Reports created by ATTOM Data will be available for all properties for sale on Auction.com.

A new report suggests that business analysts play a vital role in lender success. But finding mortgage-savvy ones? That’s not always easy. Lenders should take action to develop BA candidates internally for best results. / According to a new report, business analysts are crucial to a lender’s success. But a “dearth” in the industry makes mortgage-savvy BA candidates hard to find. In most cases, developing BAs internally is the best course of action for a lender.

Student loans are a heavy burden on young adults, and some may find it hard to buy a home with that weight hanging over them. A report from Lendedu attempted to ease this burden with a ranking of U.S. cities where student loan repayment is easiest. The New York Fed noted that student loan debt has begun to level off, though still remain at a high level. These new homeowners may find it easiest to buy a home in Mount Sterling, Illinois, which sits at the top of Lendedu’s list

On Wednesday, the Federal Open Market Committee (FOMC) will hold its monthly meeting—and in anticipation mortgage rates for both 30-year and 15-year fixed-rate loans, as well as 5/1 ARMS, dropped. While market watchers do not anticipate policy changes to come out of this month’s meeting, in light of last month’s interest rate hike it seems as if that is not enough to ebb the pre-meeting caution the market is experiencing. Though interest rates may not rise this month, the Fed has forecasted four hikes this year.

The Supreme Court found that the Miami's claims against Bank of America and Wells Fargo fell within the “zone of interests” established by the Fair Housing Act (FHA), which means that Bank of America and Wells Fargo’s practices had led to decreases in tax revenue and increased costs for maintaining foreclosed properties. What are the implications of this finding? We hear from industry lawyers to find out.

In an interview with Fox Business on Monday, Secretary of the Treasury Steven Mnuchin said he is committed to GSE reform—and that it might not include privatizing Fannie or Freddie. The main goal of the Trump administration, according to Mnuchin, is to provide "ample credit for housing" without putting taxpayers at risk. On the fate of the GSE's, Mnuchin said, "We’re committed to not leaving them as-is for the next four years." Mnuchin also discussed the Freedom of Information Act allowed GSE funds to be relocated toward other parts of the government—including the Affordable Care Act—without public knowledge.

Tripp Levy PLLC announced on Monday that the deadline for investors to pursue their claim against Ocwen in the class action lawsuit is approaching. These investors seek to recover compensation damages caused by Ocwen’s violations of the Securities Exchange Act, and those that purchased shares of Ocwen during the period between May 11, 2015 and April 19, 2017 are encouraged to contact the firm soon.