The step of setting aside a portion of GSE profits for capitalization of a cash window would achieve the goal of reducing taxpayer risk through risk sharing while preserving full small lender access, according to the letter. CHLA first addressed the subject last year in a letter to FHFA last July.
Read More »Nomura, FHFA Present Closing Arguments in MBS Trial
FHFA alleges it suffered monumental losses when the sponsor of the mortgage-backed securities, Tokyo-based Nomura, and the securities' underwriter, Royal Bank of Scotland, did not follow underwriting guidelines on 68 percent of a sample of a bundle of securities backing more than $2 billion worth of mortgages sold to the GSEs prior to the financial crisis of 2008.
Read More »RedVision Makes New Appointments for Sales, Operations Leadership Positions
New Jersey-based RedVision, an independent, nationwide provider of real property title data, search examination, and curative-ready solutions, has appointed Amy Holder to the new executive role of New Jersey sales director and James Sandifer as VP of regional operations for the southeast and mid-Atlantic regions.
Read More »Researchers Say Real Wage Growth Since Recession is Slower Compared to Other Recoveries
While the Bureau of Labor Statistics reported real wage growth of 22 cents year-over-year in February up to $10.54 per hour, researchers from the Federal Reserve Bank of Cleveland have conducted their own study and discovered that real compensation growth and real wage growth since the end of the recession are slower compared with other recoveries.
Read More »Q1 Economic Slowdown Does Not Deter Freddie Mac’s Positive Forecast for Housing
Freddie Mac's April prediction for GDP growth of 2.6 percent is a slight decline from March's forecast of 2.8 amid disappointing incoming data from the first quarter and harsh winter weather. This did not put a damper on Freddie Mac's overall forecast for housing, however. In fact, the title of the report, "Great Expectations," indicated that analysts at Freddie Mac still believe 2015 will be the best year for housing since the pre-recession days.
Read More »ReverseVision Grows With Addition of New Operations Team
Reverse mortgage software and technology provider ReverseVision has grown their company with the addition of a new Operations Team, according to an announcement from the company.
Read More »Anselmo Lindberg Oliver Name Change Reflects Addition of Partner
Chicago-based law firm Freedman Anselmo Lindberg LLC, a provider of default and real estate services to the mortgage industry, has announced that the name of the firm has changed to Anselmo Lindberg Oliver LLC recognizing the elevation of Doug Oliver to partner within the firm.
Read More »Counsel’s Corner: Difficulty of Forecasting Presents an Ongoing Challenge
Counsel's Corner is an ongoing series in which DS News talks with default servicing attorneys around the country about the most pressing issues facing the default servicing industry. This installment features Adam Codilis, VP and Attorney at Law of Chicago-based Codilis & Associates.
Read More »FHFA Counsel Testifies on Super-Priority Liens in Nevada State Legislature
Alfred M. Pollard, general counsel for the Federal Housing Finance Agency (FHFA), testified on Tuesday before the Nevada State Legislature Judiciary Committee on so-called "super-priority liens" and on recently introduced legislation to amend the way the foreclosure process is handled with regards to a homeowner association (HOA)'s lien.
Read More »U.S. Senator Calls for More Transparency from DOJ, Treasury Regarding GSE Profits
U.S. Senator Chuck Grassley (R-Iowa), Chairman of the Senate Judiciary Committee, has written separate letters to U.S. Attorney General Eric Holder and U.S. Department of Treasury Secretary Jack Lew seeking more transparency from the government regarding GSE profits.
Read More »