Speaking at the National Council of State Housing Agencies Legislative Conference on Monday, the Department of U.S. Department of Treasury Counselor to the Secretary for Housing Finance Policy Dr. Michael Stegman said that the Obama Administration is "ready, willing, and able" to talk housing finance reform, which has been a hot-button topic in recent months as Fannie Mae and Freddie Mac remain in conservatorship of the Federal Housing Finance Agency.
Read More »Report: Morgan Stanley in Settlement Talks with New York AG Over Subprime Loans
Investment firm Morgan Stanley is currently negotiating a possible settlement with the office of New York Attorney General Eric Schneiderman over the mishandling of subprime mortgage loans in the run-up to the housing market crash and financial crisis, according to multiple media reports.
Read More »Analysts: Mortgage Market Can Handle Twice As Much Default Risk
The mortgage market could have taken twice the default risk during the first three quarters of 2014 and remained well within the high standards set from 2001 to 2003, according to data released by the Urban Institute on Monday.
Read More »FHFA Enacts New Rules for Sales of Non-Performing GSE Loans
In an ongoing effort to reduce the number of non-performing loans (NPLs) in the portfolios of Fannie Mae and Freddie Mac and transfer risk to the private sector, the GSEs' conservator, the Federal Housing Finance Agency (FHFA), on Monday announced enhanced requirements for the sales of NPLs by the GSEs. Freddie Mac has sold severely delinquent loans through two transactions in the past six months, one that totaled $596 million in unpaid balance (UPB) in August 2014 and one in February 2015 that covered $392 in UPB.
Read More »Survey: Fannie Mae, Freddie Mac Should Take On More Risk-Sharing Transactions
Fannie Mae and Freddie Mac should take on more risk-sharing transactions, according to a vast majority of survey respondents in the March 2015 Mortgage Industry Outlook Report released Monday by The Collingwood Group and The Five Star Institute.
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