Chase remains the largest servicer of GSE loans at the halfway mark this year, but a 16.4% surge in volume at Mr. Cooper Group, the number two GSE servicer, cut deeply into Chase’s lead. (Includes two data tables.)
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The Federal Home Loan Banks as well as credit unions argue the FHLBanks’ mission was established by Congress, so only Congress can change it. Consumer advocates, meanwhile, are happy with the Federal Housing Finance Agency’s effort to redefine the mission.
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Fourteen state attorneys general sent a letter to FHFA Director Sandra Thompson urging her to quash Fannie Mae’s title insurance waiver pilot program.
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Former Freddie CEO Don Layton said the pilot’s only connection to housing is that some of the homeowner’s equity is used as collateral for the new second.
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The mortgage giant worked with the Housing Assistance Council to estimate the scale of the tangled title problem and begin to look for solutions.
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