Banks would welcome a proposal to loosen Basel III capital restrictions because it would make holding mortgage servicing rights easier and stem the recent exodus of depositories from the servicing business, executives said.
A mortgage program created by a 2015 partnership between the Federal Home Loan Bank of Chicago and Ginnie Mae has securitized over $1 billion in government-backed mortgages, the partnership announced.
Tight margins, regulatory clarity and a renewed appetite to expand have made mortgage brokers and the wholesale channel attractive again, at least to the small and medium mortgage lenders.
Royal Bank of Scotland Group has agreed to pay $500 million to the state of New York after a $5.5B agreement last year with the FHA, and another probe is pending.
Timothy Bowler, president of the ICE Benchmark Administration, which has been responsible for calculating the index since mid-2013, argues that there is a strong case for keeping it going.
Financial services groups are calling for more funding for the Internal Revenue Service that could fix flaws in the agency's system for verifying the income of mortgage applicants.
With few foreclosed homes left to pick up on the cheap, the biggest landlords are buying, or building, new single-family homes to pad their portfolios; these properties could eventually show up as collateral in rental bonds.
The U.S. is taking steps to stamp out the practice of servicemembers and veterans being pressured into taking mortgages they don't need, a move that officials say will lower consumer costs and could lead to financial penalties for lenders.
Testing of the common securitization platform is taking longer than expected, but the Federal Housing Finance Agency said it won't delay the 2019 launch of Fannie Mae and Freddie Mac's new single "uniform mortgage-backed security."
