Chris George, CEO of CMG Financial and the current chairman of the MBA, provided an update on the effort this week at the California Mortgage Bankers Association’s western secondary market conference in San Francisco.

At press time, the yield on the benchmark 10-year Treasury was at 2.13%, continuing its march northward. Is the rate rally over?

Keep in mind: A handful of senior officials who worked in the bureau’s supervision and enforcement division quit this year, including Assistant Director Christopher D’Angelo and Enforcement Director Kristen Donoghue...

The Trump White House is apparently worried about how GSE reform might screw up the mortgage market, especially around election time. Go figure...

“We believe the implementation of state-specific standards offered in the proposal would create consumer uncertainty, add additional costs and produce possible deviations from federal law,” wrote the trade groups.

The next step might be to create a limited liability regulated entity (LLRE) which would succeed the GSE. After that, the LLRE (once capital is raised) becomes a new company and the charter is sold to new owners. From what we understand, the FHFA has the legal power to sell the charter...

The trade groups are calling on the Department of Housing and Urban Development to either remove FHA certifications or replace them with a straightforward lender acknowledgement of key requirements based on loan eligibility…

The for-cause provision has been front and center in a case currently before the Fifth Circuit...

As of January 2019, Fannie employed 7,400 people compared with 7,200 a year earlier, according to 10-K filings with the Securities and Exchange Commission. There was no mention of the word “buyout” or “buyouts” in the SEC filing.

“This case, which clearly presents the question whether the CFPB is constitutional, is an ideal vehicle for the court’s review,” wrote Seila Law. “The petition for a writ of certiorari should therefore be granted.”