Scott Bessent Photographer:Al Drago/Bloomberg The Financial Stability Oversight Council’s take on its guiding principles is shifting, according to statements by Treasury Secretary Scott Bessent on Thursday. Processing Content Bessent said in the open part of the group’s meeting that the council needs to ensure its original focus on regulation to control risks associated with the […]
FSOC tilts scales in oversight toward deregulation Read More »
Contractors repair the roof of a damaged home following a tornado in Earlington, Kentucky. Photographer:Luke Sharrett/Bloomberg Fannie Mae is broadening the parameters of its financing for adjustable-rate mortgage, renovation, manufactured housing and accessory dwelling units. Processing Content Fannie will no longer reject adjustable-rate mortgages in cases where the difference between the initial and fully-indexed rate of
Fannie expands ARM and renovation lending Read More »
Optimal Blue’s Market Volume Index, which tracks mortgage rate lock activity, fell below 100 in November for the first time since August, reflecting typical seasonal trends. Processing Content Still, aided by lower interest rates in the second half of the year, November marked the strongest reading for this metric since 2021, strong by any measure,
Lower rates drive best November lock activity in years Read More »
Milliman has acquired Morvest Capital, expanding the global consulting and actuarial firm’s reach in a specialized corner of the housing finance market. The company is adding a mortgage servicing rights analytics and risk-management provider through the transaction. Milliman did not disclose terms in its announcement. “This acquisition accelerates our growth in the mortgage sector and
Milliman buys Morvest in deal that deepens MSR expertise Read More »
Jeffries Financial Group is purchasing a 50% stake in the parent company of Hildene Capital Management, which has a secondary market/securitization arrangement with Crosscountry Mortgage. Concurrent with this transaction, Hildene Capital Management is acquiring the holding company for SILAC Insurance, a provider of fixed and fixed indexed annuities for $550 million in cash. Compensation for
Jefferies expands credit reach with Hildene stake Read More »
Even as the regulator for Fannie Mae and Freddie Mac floats new product ideas, the enterprises’ overall footprint has stayed fairly steady. Still, some experts think more shifts could be ahead as they move closer to a public offering. As is the case with many aspects of their business, a balance will need to be
How Fannie, Freddie product mix could shift with a stock offering Read More »
Senate Democrats are warning the Trump administration not to cut an arcane but critical function of the Consumer Financial Protection Bureau that underpins the housing market as officials move to dismantle the agency. At issue is the CFPB’s weekly publication of Average Prime Offer Rate tables, a key benchmark enabling the smooth operation of the
Warren warns CFPB on its ‘half-baked idea’ for mortgage-rate data Read More »
A new type of reverse mortgage security needs to be created to accommodate Home Equity Conversion Mortgages that have reached the 98% maximum claim amount, a pair of industry organizations said in their respective responses to a government request for information. The RFI from the Federal Housing Administration and Ginnie Mae — along with their
Industry pushes new HMBS to fix aging reverse loans Read More »
Bill Pulte, the director of the oversight agency setting policy for the government-sponsored enterprises, has pressed Federal Reserve Chair Jerome Powell to do more to lower mortgage rates but the GSEs themselves also have a hand in loan pricing that reform could impact. A Fannie Mae study notes that while the 10-year treasury yield that
How GSE changes in LLPAs, MBS could shift rates Read More »
A trade group representing private lenders has created a database to identify high-risk counterparties prior to funding real estate loans. The National Private Lenders Association has launched the NPLA Watchlist to help real estate lenders, brokers and service providers spot individuals or entities that may warrant caution — or even avoidance — in order to
Private credit organization starts counterparty watchlist Read More »