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Home | Tag Archives: Fannie Mae

Tag Archives: Fannie Mae

Survey: Misconceptions Holding Back Homebuying

home-key

While nearly seven in 10 Americans agree that now is a good time to become a homeowner, a large number remain reluctant due to their own misconceptions of the financing process, according to survey results. For example, Wells Fargo reported, 30 percent of respondents expressed belief that only people with high incomes can obtain a mortgage at this point, and 64 percent said they believe only those with a "very good"” credit score can buy a home right now.

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HSBC Agrees to Pay $550M in RMBS Settlement

gavel

In a settlement announced Friday, HSBC agreed to pay $550 million to FHFA to resolve allegations it violated state and federal securities laws in its selling of private-label securities to the GSEs between 2005 and 2007. HSBC stopped issuing and distributing MBS in 2007.

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Fannie Mae: Gradual Housing Recovery Will Continue Into 2015

house-for-sale

Improvements in the labor market in 2014 have not translated to widespread housing market recovery this year, according to the Fannie Mae August 2014 National Housing Survey. Instead, data in the survey indicated that recovery for the housing market will be slow heading into 2015. The number of people in the survey who said they believed now is a good time to sell a home fell six percentage points to 64 percent, an all-time low since the monthly survey began in June 2010. The number of people who said now is a good time to buy a home also declined to 38 percent.

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CBO: Eliminating Fannie Mae, Freddie Mac Would Save Billions

cutting-money

The Congressional Budget Office (CBO) released a cost estimate on Friday for S. 1217, a senate bill proposed June 2013 by Senator Bob Corker (R-Tennessee) that would eliminate GSEs Fannie Mae and Freddie Mac and replace them with a private insurance company system with a government backstop. According to the newly-released estimate, removing the two GSEs would save the government billions of dollars in the next 10 years.

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Analyst Warns of Potential Mortgage Crisis

mortgage-mess

With the Federal Reserve on track to end its monthly bond purchases (currently at a rate of $25 billion and falling), Bove cautions that the loss of one of the tools used to help lift housing out of its post-recession rut could hurt the market, especially as interest rates start to tick back up.

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Bank of America Requests Dismissal of ‘Hustle’ Case Verdict

money-four

The case revolves around mortgages originated through Countrywide's High Speed Swim Lane (HSSL, or "Hustle") program that were later sold to Fannie Mae and Freddie Mac. The complaint against Bank of America alleged that Countrywide—which the bank purchased in 2008—threw out quality controls in pursuit of higher volumes and then misrepresented those loans to the GSEs.

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