On paper, the recently announced acquisition of Countrywide Financial by Bank of America would create a new giant in the mortgage market, accounting for nearly a quarter of all new originations and a fifth of the servicing business. But a new...
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Although the Bush administration quickly launched its FHA program to help troubled subprime borrowers and has racked up an impressive number of applications, some observers question whether the program’s somewhat conservative underwriting approach will limit...
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Buoyed by an investor flight to quality and surging FHA loan originations, Ginnie Mae posted an impressive 20 percent increase in new business last year. The agency reported total mortgage-backed securities issuance of... [Includes one chart and one graph]
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Two cities recently filed lawsuits against lenders based on damages they are suffering as a result of subprime originations and subsequent foreclosures. While the suits cite untested legal ground, analysts suggest that similar suits by cities across the country...
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Rep. Richard Baker, R-LA, a 22-year veteran of the House who has been the most persistent champion for reform of the government-sponsored enterprises, this week announced he is giving up his seat on Capitol Hill for a job in the private sector. Baker will become...
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The chief regulator of Fannie Mae and Freddie Mac this week raised concerns about proposals to provide temporary authority for the government-sponsored enterprises to get involved in a big slice of the jumbo mortgage market. In a report released late last week...
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Fannie Mae and Freddie Mac have been given a bit more leeway to upgrade their mortgage fraud-fighting efforts, courtesy of some new policy guidance from their safety and soundness regulator, the Office of Federal Housing Enterprise Oversight. The new...
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