The flow of single-family home loans into agency mortgage-backed securities fell sharply in the first quarter of 2019. Fannie Mae, Freddie Mac and Ginnie Mae produced $231.38 billion of new single-family MBS during the first three months of 2019, according to a new Inside Mortgage Finance ranking and analysis.
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Over the past month, residential lenders have been cheering the bond market rally, racking up new applications and signaling better days in the here and now.
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California lawmakers are considering creating a state-level watchdog agency akin to the Consumer Financial Protection Bureau to enhance enforcement of consumer laws and fill the void left by the federal agency.
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The market for servicing sales remains strong, according to industry participants. A number of lenders are looking to sell mortgage servicing rights after weighing capital requirements and cash needs with the potential to retain borrowers, according to an analysis by Strategic Mortgage Finance Group.
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Joseph Otting, acting director of the Federal Housing Finance Agency, set the rumor mills in motion last week when he told an audience at George Mason University Law School that the agency would finish work this summer on final capital rules for Fannie Mae and Freddie Mac.
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Castle & Cooke Mortgage, a $1 billion-plus-a- year lender, is set to break ties with Eli Global, an insurance conglomerate whose chairman, Greg Lindberg, was indicted in North Carolina this week.
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The Federal Housing Finance Agency this week announced that acting Director Joseph Otting authorized Fannie Mae and Freddie Mac to release payments to both the National Housing Trust Fund and the Capital Magnet Fund.
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Industry stakeholders warned that doing away with key enforcement tools under the Fair Housing Act will make it harder to protect consumers from discriminatory housing policies and racial segregation.
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