Nonbank servicers used the MSR secondary market and organic growth to boost their portfolios of Fannie and Freddie servicing. There was also a surge in GSE servicing among smaller banks. (Includes two data charts.)
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Big-league housing groups, including the Mortgage Bankers Association and the National Association of Realtors, warned senators not to use the g-fee as “the nation’s piggybank.”
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As the first Senate-confirmed head of domestic finance in nearly a decade, the former Fed economist could play a vital role in renegotiating the PSPAs between Treasury and FHFA.
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Fannie and Freddie are likely to have raked in more than $5 billion combined in adverse market fees on refinances before FHFA Acting Director Sandra Thompson decided to shut the program.
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Changes to Fannie’s loan agreements allow the company to more closely monitor compliance with OFAC rules and anti-money laundering and anti-corruption statutes.
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FHFA and other federal financial regulators are still grappling with issues like whether the definitions of QMs and QRMs should remain identical.
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