The Securities Industry and Financial Markets Association and the Investment Company Institute, in a joint letter, urged the Internal Revenue Service and the Treasury Department to clarify certain diversification requirements under the single security initiative.
“HARP is dead, long live High LTV Refinance programs!” That’s the title of a recent report by structured finance analysts at Bank of America Merrill Lynch on the impact HARP’s replacements will have on the government-sponsored enterprises’ credit-risk transfer programs.
At his confirmation hearing before the Senate Committee on Banking, Housing, and Urban Affairs Thursday morning, Mark Calabria, President Trump’s nominee to take over the Federal Housing Finance Agency, said the rumors were true: He did, in fact, discuss plans to recapitalize the government-sponsored enterprises with administration officials.
Ocwen Loan Servicing on Wednesday filed an amended complaint in its lawsuit againstFidelity National Information Services. The complaint, filed in California’s Superior Court in Sacramento, dramatically escalates accusations of misconduct Ocwen first leveled against FIS in a 2017 lawsuit.
In a remarkable political balancing act during his confirmation hearing Thursday morning, Mark Calabria, President Trump’s nominee to head the Federal Housing Finance Agency, told Senate Banking Committee members they need not worry about his history of controversial and inflammatory remarks on FHFA and the government-sponsored enterprises.
Sen. Mike Crapo, R-ID, chair of the Senate Committee on Banking, Housing, and Urban Affairs, stirred the housing-finance reform pot last week, releasing a plan to bring Fannie Mae and Freddie Mac out of conservatorship.
In a bid to expand its access to rental housing credit, Redwood Trust last week announced plans to partner on a deal to acquire up to $1 billion in whole loans from Freddie Mac.
A new outline on housing-finance reform from Sen. Mike Crapo, R-ID, hands over management of the conventional mortgage market to Ginnie Mae, begging the question: Is Ginnie up to the task?
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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