Mortgage Financing Archive

House Offer Includes Sunset of HVCC

In an announcement yesterday, Chairman Frank released the House Offer on the financial reform overhaul bill.  Language in the offer includes consumer protection, risk retention, mortgage reform and anti-predatory lending. The proposed amendment for Title XIV includes the provision...
June 22, 2010

FHFA, GSEs Unveil Uniform Mortgage Data Program

Yesterday, the Federal Housing Finance Agency (FHFA) announced a new initiative by the government sponsored enterprises (GSE) Fannie Mae and Freddie Mac.  The Uniform Mortgage Data Program is a joint effort to create uniform data standards and collection processes. ...
May 25, 2010

Latest on the Suspension of Taylor, Bean & Whitaker

Last week the US Department of Housing and Urban Development (HUD) suspended Taylor, Bean & Whitaker preventing the company from originating and underwriting FHA-insured mortgages. Additionally, Ginnie Mae defaulted and took over TBW’s mortgage backed securities program. Finally, TBW’s...
August 13, 2009

Freddie Mac Restricts use of BPO’s

From Appraiser News Online, Freddie Mac is restricting how lenders can use broker price opinions: On March 31, Freddie Mac revised its Seller/Servicer Guide to strictly prohibit its lenders from using broker price opinions to value properties for mortgage...
April 13, 2009

Pressure to Approve Loans Ruined WaMu

There is a great article in the New York Times about how pressure to approve loans helped bring down Washington Mutual: MS. COOPER started at WaMu in 2003 and lasted three and a half years. At first, she was...