Fannie Mae, Freddie Mac and Ginnie Mae securitized $819 billion of insured loans in 2019, up 20% from the previous year. Insured agency refi business soared by 120% from 2018.
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Some of the largest home lenders reported fourth-quarter results this week and the writing is on the wall: Home lending in the final three months of the year may have eclipsed a very good third quarter.
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To make sure property markets aren’t creating excessive systemic risk, it’s important for regulators to look at the issue broadly, said FHFA’s Mark Calabria. That’s where an activities-based approach is critical.
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The stock market boomed in 2019 and mortgage stocks followed right along. Mortgage insurance equities had nice gains but the top performers were Fannie Mae and Freddie Mac. (Includes data chart.)
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Mortgage industry stakeholders reacted differently to California Gov. Gavin Newsom’s plan to create a state-level CFPB aiming to fill the vacuum left by a rollback at the federal level.
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A mortgage lender accused of predatory practices has agreed to pay more than $3.75 million in restitution. Separately, a broker settled consumer privacy violations and three individuals face penalties for copyright infringement.
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The HUD inspector general’s findings reveal the department’s inability to adequately identify, categorize and track individuals’ personal information.
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