The FHFA proposed a rule on Wednesday to amend the Enterprise Regulatory Capital Framework (ERCF) for the GSEs that would refine the leverage buffer and the risk-based capital treatment for CRT transactions. However, far from reopening the whole discussion on the ERCF, the new rule proposes three specific amendments based
President Joe Biden and FHFA Acting Director Sandra Thompson Less than a week before President Donald Trump was scheduled to leave office, Treasury Secretary Steve Mnuchin and Federal Housing Finance Agency Director Mark Calabria announced several controversial changes that infuriated the housing finance industry. Mnuchin and Calabria amended the preferred
As the housing economy becomes increasingly digital, appraisal modernization may hold the key to not only providing a better experience for borrowers and lenders but also reducing potential appraisal bias. That’s why HousingWire invited Rachel Robinson, director, collateral policy and product development at Rocket Mortgage, to HW Annual to discuss
The reverse mortgage volume boom appears to have diminished for now, at least if new data is any indication. Home Equity Conversion Mortgage (HECM) endorsements fell in August, 2021 by 14.3% to 3,679 loans, with July now having marked the end of a streak of monthly volume above a threshold
Mortgage loan application volume rebounded from the week prior, increasing by 0.3% for the week ending Sept. 10, according to the Mortgage Bankers Association’s weekly report. The increase in application volume was predominantly driven by purchase mortgage activity, which grew by 8% from the week prior, the trade group said.
Black Knight is looking to hook mortgage brokers with a new loan origination system designed specifically for them. The Florida-based mortgage tech and analytics behemoth on Wednesday unveiled “LoanCatcher” to mortgage brokers, which it described as an “end-to-end” solution that is integrated into its Surefire CRM and mortgage marketing engine.
The Treasury Department and FHFA announced Tuesday that they are suspending certain requirements that were added in January to the Preferred Stock Purchase Agreements (PSPAs) between Treasury and Fannie Mae and Freddie Mac. Under those requirements, Fannie Mae had restricted its acquisition of loans secured by second homes and investment
Real estate startup Pacaso announced Tuesday that it has raised $125 million in its recent Series C funding round, giving it a $1.5 billion valuation. This announcement comes less than six months after the company raised $75 million, bringing its total amount of capital raised to $215 million. Earlier this
Mike Calhoun is president of the Center for Responsible Lending This week the Biden administration announced several high-level nominations, including Alanna McCargo to lead Ginnie Mae. But missing from those announcements was the White House’s widely expected pick for the next permanent director of the Federal Housing Finance Agency(FHFA), Mike
Big changes are ahead in the valuation space, most recently seen with the FHFA asking for input on appraisal modernization efforts. Will hybrid appraisals become the new norm? Are the GSEs going to expand the use of appraisal waivers? These questions and much more will be addressed by CoreLogic Chief
Monday’s announcement that Alanna McCargo, senior advisor at the Department of Housing and Urban Development, is up for the nomination of Ginnie Mae president put a smile on the face of the mortgage industry. Fair housing organizations, trade groups, and former Ginnie Mae presidents all expressed relief that a qualified
Real estate brokerage Compass announced Monday that is has signed an agreement to acquire Dallas-based title insurance company LegacyTexas Title Co., its latest foray into the title and escrow space. Financial terms of the deal – which should boost the brokerage’s margins – were not disclosed. LegacyTexas Title has served the North