The FDIC this week put added pressure on the Federal Reserve by urging the Fed to use its authority to regulate all subprime lenders. Additionally, the FDIC called for minimum national standards on subprime lending that would allow states to innovate...
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Under pressure from the Office of Federal Housing Enterprise Oversight, Fannie Mae and Freddie Mac late last week formally instructed lenders that they will only purchase nontraditional mortgages that comply with controversial... [Includes one chart]
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Business in private mortgage conduits slowed down during the second quarter of 2007 as the subprime market continued to produce a declining volume of new loans, according to a new ranking and analysis by Inside Mortgage Finance... [Includes two charts]
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Federal and state regulators will soon begin a collaborative project reviewing non-depository subprime lenders. The pilot is meant to improve collaboration between the regulators and has the endorsement of lenders. The regulators will conduct targeted...
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The Department of Housing and Urban Development will begin employing a suitability factor in determining whether discrimination is involved in the origination or targeting of mortgage loans with pricing disparities or abusive features. The strategy will be used...
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Fannie Mae late last week urged sellers to be objective in assessing property values in declining housing markets. “It is acceptable, and expected, that a lender will deliver mortgage loans to Fannie Mae that are secured by properties located in declining markets...
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Key housing industry trade groups are urging Congress to join them in opposing a reduction in the conforming loan limit that the Office of Federal Housing Enterprise Oversight appears ready to implement in 2008. The Mortgage Bankers Association, National Association of...
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The mortgage industry could be in for an interesting fall season when Congress begins to consider anti-predatory lending legislation that House Financial Services Committee Chairman Barney Frank, D-MA, plans to introduce soon. Reps. Brad Miller and Melvin Watt, both...
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Angry Senate Republicans this week moved to block all committee hearings, including a Senate banking committee hearing on proposed modernization of the FHA mortgage insurance program, in response to Democratic attempts to force a vote on U.S. troop withdrawal from...
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Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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