Barry Habib, long-time mortgage industry trainer and pundit who is the founder and CEO of MBS Highway, has been named to the Fannie Mae board. Prior to starting MBS Highway, Habib put out the Mortgage Market Guide. He was also an executive at several lenders, including Residential Finance, RPM Mortgage and Certified Mortgage. Outside of […]
Barry Habib added to Fannie Mae board Read More »
Frank Gargano The Justice Department says it will appeal a lower court ruling reinstating two fired Democratic board members of the National Credit Union Administration and that found their April terminations unlawful. The Department of Justice on Wednesday filed a notice with the U.S. Court of Appeals for the District of Columbia Circuit that it
DOJ to appeal ruling reinstating fired NCUA board members Read More »
A new bill proposed in Congress would make it easier for homeowners to build accessory dwelling units on their properties, a step supporters say will help alleviate the nation’s housing affordability crisis. The legislation, called the SUPPLY Act, aims to expand access to second mortgages for homeowners who want to build an ADU by making
Bill to expand ADU financing introduced in Congress Read More »
The founder of Figure is moving to recombine the company he split into two parts just a year ago Mike Cagney, the head of the fintech firm, announced via LinkedIn that Figure, the firm’s lending arm, and Figure Markets, a blockchain-powered financial marketplace, will become one entity again. “I split the company in two last
Figure to recombine lending arm and marketplace into one entity Read More »
Sen. Raphael Warnock, D–Ga., introduced legislation Thursday to address what he called “systemic bias” in the home appraisal process. The proposal comes just one week after the Trump administration disbanded a Biden-era task force that had been focused on addressing racial bias in the housing system. The bill, called the Appraisal Modernization Act, would require
Appraisal bill introduced to counter HUD’s PAVE repeal Read More »
Recent plans for a jointly owned government-sponsored enterprise entity that serves as a common securitization platform (CSP) for their bonds appear positioned as the most likely way to achieve monetization goals the Trump administration has for Fannie Mae and Freddie Mac. Even before Common Securitization Solutions repositioned as U.S. Financial Technology experts had identified the
Why FHFA may bet on CSP to reform Fannie, Freddie Read More »
Employees at the Consumer Financial Protection Bureau are bracing for mass layoffs now that Congress has slashed the agency’s budget in half and the Supreme Court gave the Trump administration the go-ahead to gut federal agencies. Acting CFPB Director Russell Vought is expected to issue a reduction in force, or RIF, immediately after an appellate
Budget bill, SCOTUS give ‘clear path’ to CFPB firings Read More »
The U.S. Senate passed a partial claims bill aimed at helping Department of Veterans Affairs borrowers avoid foreclosure following the expiration of a previous federal servicing program this past spring. Senators approved the VA Home Loan Program Reform Act by unanimous consent Tuesday evening after the House of Representatives previously proposed and passed the legislation
VA partial claims bill passes in the Senate Read More »
The FHFA’s nod to VantageScore 4.0 — and silence on FICO’s rival 10T model in a recent X post — has reignited a bitter fight over the future of mortgage credit scoring. A B of A Global Research report dated July 11 on the agency RMBS market pointed to the imprecise language in the post
FICO challenges FHFA’s VantageScore decision Read More »
Sen. Adam Schiff, D-Calif., called the Trump administration’s accusations of mortgage fraud regarding his Maryland property political retaliation.Al Drago/Bloomberg Fannie Mae suspects Sen. Adam Schiff, D-Calif., of mortgage fraud. President Trump announced the government-sponsored enterprise’s findings in a Truth Social post Tuesday. The scheme allegedly involves a Maryland property Schiff has owned since at least
Trump says Fannie Mae suspects Schiff of mortgage fraud Read More »
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