The complex business of servicing residential mortgages continued to become more concentrated among a diverse group of industry participants in the fourth quarter of 2018. [Includes two data charts.]
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The Trump administration pulled an about-face on reform of the government-sponsored enterprises, with the White House declaring mid-week that it will work with Congress on a legislative solution to Fannie Mae and Freddie Mac.
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Nonbanks were the top buyers and sellers of bulk mortgage servicing portfolios last year, according to a tally from affiliate publication Inside Mortgage Trends. [Includes one data chart.]
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Comptroller of the Currency Joseph Otting has served as acting director of the Federal Housing Finance Agency for just shy of four weeks. But there’s one problem: His appointment may be illegal.
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Two large lenders saw a decline in origination volumes in the fourth quarter because they weren’t willing to compete on price, officials at the firms said.
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Several new appointees to the House Financial Services Committee are likely to focus on important issues in housing finance, particularly affordable housing and fair lending, based on their past experiences.
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The record-long government shutdown had little direct impact on mortgage lending and home sales, according to industry stakeholders. However, it may take a while before business processes return to normal, they said.
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