The Federal Housing Finance Agency’s approval of the controversial pilot program comes with several conditions that limit the size and scope of Freddie’s second-lien purchases.
The first quarter of 2024 was trying for most privately held nonbanks, but it appears volumes and profits turned a corner in the second quarter. The reason: cost cuts and less competition. Call it the “new normal?”
What might JPMorgan do with the relationship managers attached to the $5 billion in warehouse loans it’s buying from Flagstar? To date, JPM hasn’t talked about details of the yet-to-close deal.
The Treasury Department announced $100 million in affordable housing funding, while HUD named recipients of its Pathways to Removing Obstacles to Housing grant competition.
The final rule on the use of automated valuation models in mortgage lending includes a standard that seeks to ensure compliance with nondiscrimination laws.
The CFPB has permanently banned three companies from servicing reverse mortgages. Separately, the bureau issued a proposed order against Freedom Mortgage for repeated submissions of faulty HMDA data.
Homeownership rates and household incomes differ dramatically within the AANHPI demographic. Some 65% of Filipino-Americans own their home while just 44% of Tongan-Americans do.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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