Daily Dose

Layton said Freddie Mac had moved on from the “early-years conservatorship mindset,” which saw the Enterprise being hesitant to take action while it waited for instructions from the government. Now, Layton said, “[w]e’re firmly facing the future, not the past.”

About 75 percent of the group surveyed said the current regulatory environment is indeed preventing them from lending to consumers who can afford and deserve a mortgage, while 25 percent said today’s regulatory environment does not prevent such lending. One anonymous respondent said, “We punish the whole for the actions of a few.”

Ocwen Financial Corporation failed four metrics and was deemed to have failed seven others in an independent settlement monitor’s review of the servicer’s entire residential mortgage loan portfolio covering the second half of 2014, according to the monitor’s report filed with the U.S. Court for the District of Columbia on Thursday.

“It’s important for all people to understand the effect of life milestones on their credit so they can put themselves in a position to reach personal and financial goals," said Ken Chaplin, SVP at TransUnion. "This survey reveals that many people, especially younger adults, may not be prepared for how certain events, such as marriage, buying a home or getting a car could alter their credit scores.”

The current data for foreclosures and mortgage delinquencies shows significant improvement compared to data from five years ago, the universally accepted peak of the mortgage crisis, according to HOPE NOW, a private sector alliance of mortgage servicers, investors, mortgage insurers, and non-profit counselors.

“Throughout this Congress, we have seen examples and heard testimony about how regulatory impediments prohibit job creation, cause consolidation of community financial institutions, and decrease choices for consumers,” said Randy Neugebauer, Chairman of the Subcommittee. “Some of the proposals we have already considered have received bipartisan support.”

While no single-family securitizations came to market in July or August of this year—Morningstar attributes the slowdown to issuers’ redirection of focus from property acquisition to property management—the agency said there are two bright spots in the SFR market as of late.

Fannie Mae announced on Wednesday the pricing of the latest risk-sharing transaction under the Connecticut Avenue Securities (CAS) Series at $1.45 billion. The latest transaction is Fannie Mae’s ninth under the CAS Series and first CAS transaction structured for an actual loss framework.

The increase in net income during Q3 made it a positive quarter for the bank despite a lawsuit filed by the FDIC in August accusing the bank of breaching its duties as a bond trustee for $2 billion in residential mortgage-backed securities and despite having their own lawsuit against JPMorgan Chase over toxic RMBS dismissed.

Ask the Economist is an ongoing series in which DS News talks with an economist about the most pressing issues facing the nation's housing industry and the economy. This installment features Ataman Ozyildirim, Economist and Director, Business Cycles and Growth Research at The Conference Board.