DS News

DS News

Freddie Mac’s Mortgage Portfolio Contracts; Serious Delinquency Rate Hits 6-Year Low

By Brian Honea Freddie Mac’s total mortgage portfolio contracted to start 2015 after ending 2014 with hits highest annualized growth rate for a single month in five years while the serious delinquency rate for the Enterprise’s loans fell to a six-year low, according to the Enterprise’s January 2014 Monthly Volume Summary released Thursday. The post Freddie Mac’s Mortgage Portfolio Contracts; …

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MetLife to Pay $123 Million to Resolve Claims of Lending Violations on Loans Backed by FHA, HUD

By Brian Honea MetLife Home Loans, a mortgage finance company headquartered in Irving, Texas, has agreed to pay $123.5 million to settle claims of lending violations on government-backed mortgage loans committed by one of its subsidiaries under the False Claims Act, according to an announcement from the U.S. Department of Justice. The post MetLife to Pay $123 Million to Resolve …

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FHA Commissioner Reaffirms Commitment to Middle Class, Administration’s Role

By Brian Honea Federal Housing Administration (FHA) Acting Commissioner Biniam Gebre reaffirmed his organization’s commitment to America’s middle class as well as the role of the Administration and defended the FHA’s recent lowering of the mortgage insurance premiums in statement released Thursday. Gebre’s statement provides a preview of his upcoming appearance at the Five Star Government Forum on March 18 …

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Increased Litigation Expenses Cuts Into Q4 Earnings for FDIC-Insured Institutions

By Brian Honea Increased litigation expenses at a few larger banks caused the Q4 aggregate net income for commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC Chairman was still encouraged by the numbers, however. The post Increased Litigation Expenses Cuts Into Q4 Earnings for FDIC-Insured Institutions appeared first on DSNews. Via:: Increased Litigation …

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DS News Webcast: Thursday 2/26/2015

By Jordan Funderburk Both the delinquency rate and the foreclosure inventory rate in Q4 2014 for residential mortgage loans fell to their lowest levels since 2007, according to the Mortgage Bankers Association’s National Delinquency Survey released Wednesday. The delinquency rate fell to a seasonally-adjusted rate of 5.68 percent in Q4 for all mortgage loans outstanding at the end of the …

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Morgan Stanley Agrees to Pay $2.6 Billion to Resolve RBMS Claims

By Brian Honea Investment firm Morgan Stanley agreed in principle on Wednesday to pay $2.6 billion to resolve claims that it packaged and sold faulty residential mortgage-backed securities leading up to the financial crisis. The post Morgan Stanley Agrees to Pay $2.6 Billion to Resolve RBMS Claims appeared first on DSNews. Via:: Morgan Stanley Agrees to Pay $2.6 Billion to …

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Castro Discusses FY 2016 HUD Budget Before House Committee On Appropriations

By Brian Honea U.S. Department of Housing and Urban Development Secretary Julián Castro addressed the U.S. House Committee on Appropriations Wednesday on the Fiscal Year 2016 budget proposal for HUD, where he emphasized the commitment from the Obama administration to continue to provide affordable housing for families, seniors, disabled Americans and others in need of resources. The post Castro Discusses …

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Survey: Delinquency, Foreclosure Inventory Rates Fall to Lowest Levels Since 2007

By Brian Honea Both the delinquency rate and the foreclosure inventory rate in Q4 2014 for residential mortgage loans fell to their lowest levels since 2007, according to the Mortgage Bankers Association’s National Delinquency Survey released Wednesday. The delinquency rate, which includes loans that are at least one payment past due but not loans in foreclosure, fell to a seasonally-adjusted …

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