Tag Archives: Fannie Mae

MountainView Servicing Group announced it is acting as the exclusive sale advisor for a Fannie Mae portfolio valued at $152 million (unpaid principal balance).

Diane Nordin, a seasoned asset management executive, has joined Fannie Mae's board of directors, the company announced.

In the midst of an ongoing political debate surrounding their future, Fannie Mae and Freddie Mac continue to see strong profits.

Citing concerns about the costs of force-placed insurance for the GSEs and consumers alike, the Federal Housing Finance Agency (FHFA) on Tuesday directed Fannie Mae and Freddie Mac to prohibit servicers from taking reimbursements from insurers providing forced policies. Fannie Mae and Freddie Mac will provide aligned guidance to sellers and servicers to prohibit these practices, including implementation schedules. In addition, acting FHFA director Edward DeMarco announced the agency is considering further measures.

With Fannie Mae enacting tighter requirements on eligibility for loan purchases, experts at the Urban Institute's Housing Finance Policy Center are speaking out against the move. In a blog post on the Urban Institute's Metro Trends Blog site, the center's Laurie Goodman and Taz George said, "This change places yet another barrier in front of low- and moderate-income families, who are already facing a tightening credit box." They also commented that if Fannie Mae's intent was to reduce risk, "this was a crude way to accomplish it."

Fannie Mae has released its September book of business, revealing further declines as new business acquisitions came to their lowest level in more than a year.

Ally Financial Inc. announced Tuesday the bank has reached settlements with the Federal Housing Finance Agency (FHFA) and FDIC for all pending litigation related to toxic mortgages.

JPMorgan Chase announced it has come to agreements to close the book on claims surrounding mortgage-backed securities and rep and warranty repurchase claims from FHFA and the GSEs.

Mortgage Bankers Association (MBA) president and CEO David Stevens took the stage at the group's 100th Annual Convention and Expo Monday morning, reflecting on the last century in housing and shining a spotlight on today's challenges. While he notes that the government's response to the economic crisis has seen its share of successes, he also says Washington needs to recognize and take responsibility for the shortcomings of its policies, a step he believes policymakers have been reluctant to take.

After hearing arguments for a month in a Manhattan federal court, a 10-person jury found Bank of American liable for one charge of fraud involving high-risk mortgages originated by Countrywide and then sold to the GSEs. Also found liable for fraud was Rebecca Mairone, who worked as COO for one of Countrywide's lending divisions and who was responsible for overseeing the company's "High Speed Swim Lane" program, often referred to as "the Hustle."