More Than 100 Fannie Mae Employees Fired for ‘Unethical Conduct,’ Some Accused of Fraud
More than 100 employees have been fired for unethical conduct at government-sponsored enterprise Fannie Mae over the past few weeks, some of them accused...
FHLB Cincinnati Launches Hundred Homes Initiative
FHLB Cincinnati has launched the Hundred Homes Initiative, which will offer $5 million in funding to move 100 households living in mobile homes constructed...
CoreLogic to Rebrand as Cotality
Global property data and real estate solutions firm CoreLogic is rebranding to Cotality.
The new name reflects the company’s deep commitment to collaboration and connectivity,...
William Pulte Confirmed as the New Director of FHFA
William Pulte has been confirmed as the new director of the Federal Housing Finance Agency, regulator of government-sponsored enterprises (GSEs) Fannie Mae and Freddie...
Judge Halts Further Firings at CFPB, Jonathan McKernan Nominated as New Director
The Trump administration has reportedly agreed to pause layoffs and funding cuts at the Consumer Financial Protection Bureau (CFPB) after a federal judge on...
Trump Administration Directs Federal Agencies to Lower the Cost of Housing
The Trump Administration on Monday issued a broad order to all federal agencies to develop and implement strategies that will “restore purchasing power to...
HUD Updates FHA Loss Mitigation Waterfall to Give Mortgage Servicers More Options
The U.S. Department of Housing and Urban Development (HUD) has updated the Federal Housing Administration’s (FHA) loss mitigation waterfall, giving mortgage servicers more options...
Mortgage-Centric AI Professional Services Support Now Offered by BlackFin
Mortgage consultancy BlackFin reports that its professional services team is now assisting mortgage teams at banks, credit unions and independent mortgage bankers with the...
MBA Launches Undergraduate Course on Origination and Processing at Cleveland State University
The Mortgage Bankers Association (MBA) has launched a new program at Cleveland State University focused on residential mortgage origination and processing.
The new, three-credit undergraduate...
PHH Mortgage Settles With HUD, Will Refund Borrowers for Convenience Fees
PHH Mortgage Corporation will refund more than 50,000 mortgage borrowers a total of nearly $3.5 million to settle allegations by the U.S. Department of...
CFPB Sues Vanderbilt Mortgage & Finance for Setting Borrowers Up to Fail
Vanderbilt Mortgage & Finance, which originates loans for manufactured homes, is being sued by the Consumer Financial Protection Bureau (CFPB) for putting borrowers into...
FHFA Takes Preliminary Step to Transition Fannie Mae, Freddie Mac Out of Conservatorship
The Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury have amended Fannie Mae and Freddie Mac’s Preferred Stock Purchase Agreements...
CFPB Sues Rocket Homes for Steering Borrowers to Rocket Mortgage
The Consumer Financial Protection Bureau (CFPB) is suing Rocket Homes for providing kickbacks to real estate brokers and agents to steer prospective borrowers to...
Fed Cuts Rates 0.25 Percent, as Anticipated
Citing that economic activity has continued to expand at a solid pace, the Federal Open Market Committee (FOMC) today voted to cut the fed...
AmeriCU Credit Union Shifting to VantageScore 4.0 for Mortgages
AmeriCU Credit Union, serving more than 167,000 members throughout central and northern New York, is shifting to VantageScore 4.0 for mortgages.
The migration to VantageScore...
Rocket Mortgage Seeks to Have Appraisal-Related DOJ Lawsuit Dismissed
Rocket Mortgage reports that it has filed a suit in Federal District Court against the U.S. Department of Housing and Urban Development (HUD) to...
Mortgage QC Software Firm ACES Adds 10 New Credit Union Clients
ACES Quality Management, which offers quality control software to the mortgage industry, reports that it recently added 10 new credit union clients to its...
Fannie Mae Closes Sale of 8,678 Reperforming Loans With $1.42B in UPB
Fannie Mae recently auctioned 8,678 reperforming mortgage loans with about $1.42 billion in unpaid principal balance (UPB), offered in three pools.
The winning bidder for...
FHFA Seeks Comment on Revised Amendments to Suspended Counterparty Program
The Federal Housing Finance Agency (FHFA) has revised its proposal to amend the Suspended Counterparty Program (SCP), which requires a regulated entity to report...
Share of Mortgages in Forbearance Increased in August as Labor Market Cooled
The share of mortgages in forbearance increased to 0.31% in August, up from 0.27% in July, according to the Mortgage Bankers Association’s (MBA) monthly...