Home / News / Government (page 581)

Government

Fed Underwater On MBS Purchases

The U.S. Federal Reserve’s plan to buy up mortgage-backed securities (MBS) has proven to be a high-ticket project. According to a recent Wall Street Journal:http://www.wsjonline.com report, which cited analysis by JP Morgan Chase, the Fed is underwater on its MBS portfolio by about one percent, and it would have to take approximately $5 billion in losses if it were to mark its portfolio to the market.

Read More »

Treasury Outlines New Pay Rules for TARP

The Treasury Department announced new rules late Wednesday that limit executive compensation for lenders who have received bailout money from the government. Such restrictions have stirred controversy within the financial sector and are the primary reason many banks want to start repaying the taxpayer funding they received through the Troubled Asset Relief Program (TARP).

Read More »

Mortgage Rates Highest in Seven Months

Long-term mortgage interest rates have climbed to their highest levels since late last year, casting a dark cloud on any early signs of a housing recovery and stalling the recent wave of refinances many struggling homeowners employed to get out from under unsustainable mortgages.

Read More »

MERS Program Addresses Federal Mortgage Transparency Regulation

Reston, Virginia-based MERSCORP, Inc. (MERS) unveiled a new program on Tuesday that informs borrowers of ownership changes regarding their mortgage. The company says its program supports new federal legislation, which is designed to help homeowners keep their homes by bringing greater transparency and accountability to the mortgage lending process.

Read More »

Oversight Panel: New Stress Tests Needed

The Congressional Oversight Panel, one of the federal watchdogs that oversees the government’s $700 billion bailout of the financial industry, says regulators’ stress tests of the nation’s 19 largest banks should be administered again using more severe economic assumptions, and should be conducted over a longer period.

Read More »

Lenders One Members Gather On The Hill

Lenders One Mortgage Cooperative recently sponsored the Third Annual Lenders One Legislative Summit in Washington, D.C., to give its mortgage banker members an audience with federal housing agencies and lawmakers.

Read More »

Nationstar Signs Federal Mod Contract

Movers & Shakers, people

Nationstar Mortgage LLC, headquartered in Dallas, Texas, has joined the list of mortgage companies officially under contract to provide federal loan modifications through the government’s Home Affordable Modification program.

Read More »

Ten Big Banks Allowed to Repay Bailout

Regulators have given 10 major financial institutions the green light to start repaying billions of dollars in federal bailout money. These banks were deemed by their regulatory supervisors on Tuesday to be strong enough to withdraw from what was formerly the Troubled Asset Relief Program (TARP) but was renamed the Capital Purchase Program (CPP) under the Obama administration.

Read More »

Freddie Mac Loosens Refinance Rules

Freddie Mac announced on Friday that it is instituting several changes to its refinance offering under the Obama administration’s Making Home Affordable program. The McLean, Virginia-based GSE explained that the new relaxed guidelines will make the refinancing option available to a wider scope of borrowers looking for mortgage relief from the government program.

Read More »

Your Daily Dose of DS News

Get the news you need, when you need it. Subscribe to the Daily Dose of DS News to receive each day’s most important default servicing news and market information, absolutely free of charge.