Mortgages

The cancellation by New Residential of a money-losing subservicing agreement should benefit Ocwen's financial results going forward, the company said.

The agency's director said both steps will come as part of an ongoing review of agency rules and show her "commitment under the law to be effective and evidence based” in providing clarity to stakeholders.

Black Knight introduced a model to gauge prepayment speeds and credit risk for investors that purchase commercial mortgage-backed securities.

Dana Wade would succeed Brian Montgomery, the acting deputy secretary of the Department of Housing and Urban Development.

SoFi Professional Loan Program 2020-B Trust is a $1.06 billion asset-backed offering of bonds secured by a pool of loans made to advanced-degree graduates of medical, dental or legal universities, or MBA recipients.

A dip in conventional mortgage refinance demand drove mortgage application volume down compared with one week earlier, according to the Mortgage Bankers Association.

For the first time since the start of the housing crisis, mortgage origination volume could top $2 trillion for three consecutive years, according to Fannie Mae.

Freddie Mac saw a decline in net profit in 2019 due to decreased interest rate income, lower amortization revenue and risk-reducing investment costs, but its consecutive-quarter results improved.

Fannie Mae identified the adoption of hedge accounting and regular issuance of multifamily Connecticut Avenue Securities deals as among strategies it could continue to pursue while navigating regulatory uncertainties and change.

The unsuccessful scheme has become the focus of a legal battle involving two former Federal Home Loan Bank of San Francisco employees against that government-sponsored enterprise, which fired them in 2018.

The biggest issuers of bonds tied to the benchmark tapped to replace U.S. dollar Libor are suddenly pulling back, a potential blow to efforts by regulators to wean the financial system off a much-maligned reference rate.

Consumer sentiment about purchasing a home nears its record high as almost half of those surveyed said mortgage rates will stay at the current low levels, according to Fannie Mae.

The Federal Housing Finance Agency plans to increase liquidity standards for nonbank conforming loan servicers, and at the same time raise the net worth requirements for those that also perform the function for Ginnie Mae.

The 34 narrowbody and widebody aircraft in the portfolio are older-vintage planes with a weighted average age of 13.8 years, but all but one of the planes remains an in-production model.

With policymakers focused on ending Fannie Mae and Freddie Mac’s conservatorship, their regulator is reorganizing key units and adding staff to position itself for the long term.

The regulator said the investment bank and financial services company will help in the process of strengthening Fannie Mae and Freddie Mac’s capital standing for their eventual exit from conservatorship.

The data management and analytics firm has tapped Craig Phillips, a former top aide to U.S. Treasury Secretary Steven Mnuchin, as a senior adviser for the five-year-old firm’s business and product development activities in the mortgage loan space.

Now that the Consumer Financial Protection Bureau says it will scrap an unpopular standard for so-called qualified mortgages, the big question is what will take its place.

Mortgages, auto loans and credit cards should perform well for the next two quarters. Beyond that, all bets are off.

To guard against headwinds in the agricultural sector, the Federal Deposit Insurance Corp. recommended that institutions consider the “overall financial status” of farm loan borrowers.