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Fannie Mae Reports Net Income of $1.9 Billion

By Brian Honea Fannie Mae reported a net income of $1.9 billion for the first quarter of 2015, up from $1.3 billion from the previous quarter, according to Fannie Mae’s Q1 2015 financial results released Thursday. The primary driver of the nearly 50 percent quarter-over-quarter increase in net income was lower fair value losses for Q1, according to Fannie Mae’s …

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Ocwen Fails Part of Compliance Test; Improvements for Internal Review Group

By Brian Honea Retesting of Ocwen Financial’s compliance with the terms of the 2012 National Mortgage Settlement (NMS) for the first quarter of 2014 revealed that the Atlanta-based servicer failed one metric originally reported as a pass, but passed the other eight metrics, according to a release from the Office of Mortgage Settlement Oversight. The post Ocwen Fails Part of …

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Mixed Signals in Fannie Housing Survey

By Jann Swanson Posted To: MND NewsWire Fannie Mae said on Thursday that while the results of its April National Housing Survey showed some improvement in housing sentiment, it was “likely not enough to trigger any breakout improvements in housing market activity this year.” Indeed, some of the results showed respondents to be a little conflicted about housing and their …

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Pavaso Introduces New “Fast Track” Program

By xhevrije In an effort to prepare for August 1 TRID changes, Pavaso recently introduced a new program designed to help companies easily transition to digital closings called “Fast Track.” The program is intended to help lenders and title companies provide a better consumer experience for the upcoming law changes. Pavaso reports that the Digital Close solution takes only two …

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GSEs Continue Financial Winning Streak

By Jann Swanson Posted To: MND NewsWire Both government sponsored enterprises (GSEs) reported profitable first quarter financial results for the first quarter. Both will pay a dividend for the quarter to the U.S. Treasury and neither anticipates additional Treasury draws. On Thursday Fannie Mae reported net income of $1.9 billion and comprehensive income of $1.8 billion for the first quarter …

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Senator Bernie Sanders Proposes Bill to Break Up Big Banks

By xhevrije A new bill has been introduced to legislation by presidential nominee, Sen. Bernie Sanders (I-Vermont). The proposal is intended to prevent another costly taxpayer bailout and safeguard the economy by breaking up the nation’s largest banks. Rep. Brad Sherman (D-California) proposed a similar bill in the House. The post Senator Bernie Sanders Proposes Bill to Break Up Big …

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