Confirmation Hearing For FHFA Nominee Mel Watt
The Senate Banking Committee is scheduled to hold a confirmation hearing for North Carolina Congressman Mel Watt, President Obama's pick to head the...
Brandon Stuerke: Lenders Failing To Leverage Social Media
PERSON OF THE WEEK: Brandon Stuerke is a business coach and marketing strategist specializing in new tools that save professionals time while building...
Fed To Maintain Stimulus Until 2014
The Federal Open Market Committee (FOMC) on Wednesday issued a revised economic forecast suggesting a faster-than-expected economic recovery - however, the Fed does...
Shellpoint Gearing Up For Private-Label RMBS Issuance
In another sign that the market for non-agency mortgage bonds is starting to rebound, Shellpoint Partners LLC, the home lender headed by mortgage...
Housing Starts Rose 6.8% In May, Builder Confidence Up
Following a report from the National Association of Home Builders (NAHB) that builder confidence reached a new high in early June, the U.S....
Lawsuit: BofA Lied To Homeowners Seeking Loan Modifications
Six former Bank of America Corp. employees have reportedly testified in connection with a lawsuit filed in Massachusetts federal court alleging that the...
Fabian Calvo: Housing Market Rife With Risks And Opportunities
PERSON OF THE WEEK: Fabian Calvo is founder of The Note House, a company focused on buying and selling distressed residential and commercial...
Sen. Elizabeth Warren Floats Two-Tiered Banking System Concept
During a hearing of the Senate committee on Banking, Housing and Urban Affairs on Thursday, Sen. Elizabeth Warren, D-Mass., reportedly floated the idea...
Reverse Mortgage Stabilization Act Aims To Stem FHA’s Losses
Legislation passed in the House of Representatives Wednesday would limit the size of initial lump sum payments that lenders offer reverse mortgage borrowers...
Fannie And Freddie Still On Shaky Ground, FHFA Says
Although government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac have returned to profitability, prompting many in the mortgage industry to question whether they...
CoreLogic: Underwater Mortgages Fall As Home Prices Rise
Due mostly to rising home prices, the percentage of U.S. residential mortgages that were in negative equity or 'underwater' at the end of...
Fannie And Freddie Shareholders Slap U.S. Government With $41B Lawsuit
A group of private shareholders of government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac has filed a complaint against the U.S. government on...
CMLA Wants Responsible Small Lenders Exempt From Dodd-Frank Rules
The Community Mortgage Lenders of America (CMLA) has drafted legislation that, if taken up by Congress, would exempt small lenders from having to...
GSE Dividends Help Boost U.S. Credit Rating To ‘Stable’
Due in part to the huge dividends being paid to the U.S. government by Fannie Mae and Freddie Mac, Standard & Poor's on...
Plans To Liquidate Fannie And Freddie Taking Shape
Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac would be liquidated over a five-year period and replaced by an entity offering government reinsurance...
FHA Could Need Bailout Before Year-End
Could the Federal Housing Administration (FHA) end up in the same boat as Fannie Mae and Freddie Mac? Despite efforts to shore up...
Investors Learn Hard Way That Foreclosure Auction Scams Don’t Pay
Federal authorities are reportedly cracking down on the illegal practice of rigging bids on foreclosed properties at bank auctions. According to a report...
Making Home Affordable Program Extended, QM Rules Modified
Despite signs that the U.S. housing market is on the mend, millions of homeowners are still struggling to pay their mortgages. To provide...
Mortgage Application Volume Drops As Rates Spike
Mortgage applications fell almost 9% last week, on an unadjusted basis, compared to the week prior as interest rates jumped to their highest...
Scott Gordon: With Social Media, Bankers Are ‘Behind The Times’
PERSON OF THE WEEK: Scott Gordon is president and CEO of lender Open Mortgage LLC and author of the new book 'Social Media...