The biggest growth in the mortgage market during the fourth quarter was in home equity loans. Ginnie Mae continued as drum major in the MBS market. (Includes three data tables.)
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When nonbanks suffer in the origination game, so do their bankers. According to the latest analysis from Inside Mortgage Finance, warehouse commitments totaled $96.0 billion at yearend. (Includes data table.)
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The CFPB is looking at various closing costs, raising concerns about a lack of competition. Trade groups representing mortgage lenders stress that closing costs are adequately disclosed and well regulated.
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Industry trade groups as well as analysts believe the proposed waiver pilot is purely a political gesture and will, in fact, expose borrowers and lenders to financial risk.
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The FHLBanks, like Fannie Mae and Freddie Mac, have a public/private structure that can incentivize private profits at public cost. Don Layton, former Freddie CEO, said the banks are ripe for reform.
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What does the stalled mortgage job market need? An interest rate cut by the Federal Reserve. Otherwise, limited hiring and layoffs will be the order of the day.
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Housing Secretary Fudge resigns; IRS postpones controversial changes to IVES; regulators to alter Basel capital proposal; banking regulators waive appraisal requirements in Maui; feedback sought on bank call-report proposal.
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