OCC: Mortgage Performance Improves Slightly in Q2
The share of current and performing first-lien mortgages in the second quarter of 2019 was 96.1%, up from 95.6% a year ago, according to the Mortgage Metrics Report released today by the OCC.
Browsing: Mortgage
FHFA Bans GSEs From Offering Volume-Based G-Fee Discounts
In a move intended to level the playing field in the mortgage market, the Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac not to provide volume-based discounts for guarantee fees they charge lenders.
ABA Supports Proposed Changes to Lender Annual Certification Statements
In a joint comment letter to the Department of Housing and Urban Development last week, the American Bankers Association and three other financial and housing trade associations offered feedback on a recent proposal by the Federal Housing Administration to revise the annual certification statements for lenders.
ABA Commends FHFA for Swift Replacement of Discontinued Rate Survey
In a letter to the Federal Housing Finance Agency yesterday, the American Bankers Association commended the agency for swiftly replacing its Monthly Interest Rate Survey with an alternative index, the PMMS+ index.
Treasury, HUD Issue Housing Finance Reform Recommendations
The Treasury Department today issued a much-anticipated blueprint for housing finance reform that includes providing explicit and paid-for federal government support for the secondary market, ending the more-than-decade-long conservatorships of Fannie Mae and Freddie Mac and promoting greater private-sector competition in housing finance.
Understanding State Exceptions to the VA’s One Percent Fee Rule
VA mortgages are an important growth opportunity for bank real estate lenders, but the state-by-state calculation of allowable fees is a key factor in profitability.
FHA Updates Condominium Rules
The Federal Housing Administration issued a final rule today providing greater flexibility for individual condominium owners to obtain an FHA-insured mortgage.
FHFA Finalizes New Requirements for Validating, Approving Credit Score Models
As expected, the Federal Housing Financial Agency issued a final rule—as directed by the S. 2155 regulatory reform law—establishing new requirements for the validation and approval of credit score models by Fannie Mae and Freddie Mac.
Household Debt Continues to Climb
Outstanding household debt increased by 1.4% in the second quarter of 2019, rising by $192 billion to land at $13.86 trillion, the Federal Reserve Bank of New York reported today.
FHFA to Remove Language Preference Question From URLA
The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to make several changes to the Uniform Residential Loan Application, including the removal of a question asking applicants to indicate their preferred language