Home >> Tag Archives: FHFA (page 52)

Tag Archives: FHFA

MIS Approved for UCDP Integration

Mortgage Information Services, Inc., has completed its testing by the Federal Housing Finance Agency, and the company has been approved, taking its connection with the UCDP live.

Read More »

FHFA Appoints Two New Faces to Key Positions

The Federal Housing Finance Agency picked up two new appointees, duly announced by the independent federal agency Tuesday. Richard Hornsby will assume his new role as COO with the FHFA, while Jon Greenlee takes on the position of deputy director of the division of enterprise regulation.

Read More »

Home Prices Stagnate in Still-Weak National Economy

Home prices drifted lower over the third quarter this year, falling year-over-year by 3.9 percent, according to Standard & Poor├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Case-Shiller Index. The figures inched forward by only 0.1 percent from last month, with the modest pickup reflecting a 5.8-percent improvement from figures seen for home prices over the second quarter. The numbers beat forecasts for a 3.0-percent slide back from the 20-city composite. Fourteen of 20 cities fell in a southerly direction over September 2011, with figures for home prices in Atlanta, Las Vegas, and others sliding.

Read More »

Reports: Fitch May Downgrade Fannie, Freddie

A failure by lawmakers to slash $1.2 trillion from the national debt spurred Fitch Ratings to place U.S. debt on negative outlook Monday, a move that immediately hit GSEs Fannie Mae and Freddie Mac by association. The ratings agency revised a stable outlook for debt held by Fannie and Freddie to negative, even while it reaffirmed AAA-ratings in place for the GSEs. Multiple news reports suggest that Fitch will likely downgrade credit ratings for the U.S. federal government, along with Fannie and Freddie.

Read More »

Frank Retires, Leaving Namesake Law With Uncertain Future

Rep. Barney Frank, a liberal icon on Capitol Hill and co-author of the financial reform law that bears his name, announced that he will not seek reelection Monday. A newly redistricted area of Massachusetts ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô which he represented for 40 years ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô adds less than half a million new constituents and straddles an area with which he is unfamiliar, according to Frank. He pledged to continue his public advocacy efforts from outside the Beltway and finish his term in office. Analysts say his departure makes repeal more likely for the Dodd-Frank Act.

Read More »

PMI Files for Chapter 11, Unable to Write New Policies

Embattled mortgage insurer The PMI Group, Inc., caved in to state-imposed roadblocks by voluntarily filing for Chapter 11 bankruptcy Wednesday. The move comes a day before a major U.S. holiday and on the heels of a seizure of subsidiaries PMI Mortgage Insurance Co. and PMI Insurance Co. by state regulators with the Arizona Department of Insurance. PMI said that $685 million in senior unsecured notes and about $51.5 million in junior unsecured notes became immediately due and payable as a result of the bankruptcy filing.

Read More »

GSE Leaders Address Bonuses, Profits Before Congress

The GSEs are making headlines, with Fannie Mae's CEO appearing before Congress to address the entity's possible profitability and Freddie Mac's CEO providing testimony on the controversial executive bonuses within the organization. Both leaders spoke to the House Committee on Oversight and Government Reform to field questions regarding various aspects of Fannie and Freddie's practices and financial standing. The high-profile hearing follows considerable outcry by lawmakers over $13 million in bonuses for 10 senior-level executives.

Read More »

Fannie, Freddie Release New HARP 2.0 Guidelines

Freddie

The same day that lawmakers deluged the GSEs and their regulator with criticism, Fannie Mae and Freddie Mac finally released guidelines Tuesday for lenders and servicers about modifications to the Home Affordable Refinance Program. The Obama administration ended weeks of speculation when it announced the modifications ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô specific to HARP 2.0, as dubbed by the media ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô in October. New guidelines effectively took lenders and servicers off the hook by nixing their legal culpability for original loans before homeowners refinance with the GSEs.

Read More »

Subscribe to MDaily

MReport is here for you to stay on top of important developments in the mortgage marketplace. To begin receiving each day’s top news, market information, and breaking news updates, absolutely free of cost, simply enter your email address below.