Bank of New York Mellon told the U.S. Supreme Court in a filing that overturning a Second Circuit Court ruling would mean disaster for the residential mortgage-backed securities market.
Read More »Freddie Mac’s Credit Risk Transfer Continues With Last Offering of 2015
Freddie Mac's latest Structured Agency Credit Risk offering is the Enterprise’s eighth of the year and 17th overall since the program launched in 2013.
Read More »Whistleblower Attempts to Revive RMBS Suit Against Wells Fargo
A former Wells Fargo subprime loan officer has asked the Second Circuit Court of Appeals to revive her suit against the bank, claiming that Wells Fargo engaged in a scheme to knowingly sell toxic mortgage-backed securities to investors to qualify for city and state tax exemptions.
Read More »Share of SFR Built-for-Rent Homes Remains Low
Despite the booming popularity of the single-family rental market, the share of homes being built specifically for rental purposes is still just a small piece of the housing market.
Read More »Foreclosure Inventory Plummets to Eight-Year Low
The news was all good on the delinquency front for October 2015 as all related metrics continued steep declines.
Read More »Mortgage Balances Surge, Fueling Rise in Household Debt
Delinquency trends for housing were positive, with foreclosures hitting a new low in the 17 years the New York Fed has been reporting the data.
Read More »Activists Urge FHFA to End Conservatorships of Fannie Mae and Freddie Mac
Is the FHFA's conservatorship of Fannie Mae and Freddie Mac weighing down homeownership?
Read More »GSE CEO Pay Cap: Is it Justifiable or Is It Unwarranted?
Mel Watt, an Obama appointee who could now be at odds with the Obama Administration if the Vitter-Warren bill gets signed by the President, said in a statement in July that the purpose of the pay raises was to "promote CEO retention, allow reliable succession planning, and ensure the continuity, efficiency and stability" at Fannie Mae and Freddie Mac.
Read More »Senator Bob Menendez Wants Answers From FHFA Director Watt
Menendez, Ranking Member of the Senate Subcommittee on Housing, Transportation, and Community Development, cited preliminary findings in the FHFA’s annual housing report. The Senator noted that Freddie Mac had failed to meet its single-family low- and very low-income home purchase goals last year and asked Watt what the agency is going to do to make corrections in these two areas.
Read More »Shrinking REO Inventory Drives Down Cash Sales Share
At their peak in January 2011, cash sales accounted for nearly half of all residential home sales in the United States (46.5 percent). Since then, that percentage has steadily declined; in August 2015, it was reported at 31.7 percent, less than one-third of all home sales—a decline of more than 3 percentage points from August 2014, when it was 34.9 percent.
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