Originations of first-lien home mortgages dropped 14.9 percent from the third to the fourth quarter of 2018, according to an exclusive new analysis and ranking by Inside Mortgage Finance. [Includes two data charts.]
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The Treasury Department continues to work on administrative changes for Fannie Mae and Freddie Mac that can be implemented by the Federal Housing Finance Agency, but a blueprint won’t see the light of day until sometime in the spring, if then.
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Independent mortgage banking firms that weren’t adequately hedged at yearend are facing minor- to moderate-sized writedowns on the value of their servicing portfolios, according to interviews conducted by Inside Mortgage Finance this week.
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Mortgage lenders continue to fund loans even as the record-long government shutdown entered its fifth week. However, the process, particularly for FHA and VA, is much slower than a few weeks ago due to lack of funding and severely reduced staff, according to industry participants.
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As a new era of oversight begins, Rep. Maxine Waters, D-CA, chairwoman of the House Financial Services Committee, is aiming for reform of credit reporting agencies.
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The Federal Housing Finance Agency, which regulates Freddie Mac and Fannie Mae, last week said it will no longer defend its single-director leadership structure.
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