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government-sponsored enterprises (GSEs)

MBA's Mortgage Action Alliance: MAA Members Carry the Torch on State Advocacy

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The real estate finance industry is in the midst of an exceptionally busy time considering the breadth of legislative activity in our realm this year. As we continue to implement and adjust to the regulations mandated by the Dodd-Frank Act, Congress has also started to debate government-sponsored enterprise (GSE) reform, and earlier this month, the Senate Banking Committee finished the mark-up of a bill that would reauthorize Terrorism Risk Insurance.Click to continue

Senate Banking Committee Lays Out GSE Reform Framework

Congress/Credit: Comstock

Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) have announced that they have come to an agreement regarding a bill reforming housing finance and the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. Administrators, stakeholders and politicians from both sides of the aisle have reportedly signed onto the bill, which will hold a markup over the next few weeks.Click to continue

Credit Plus Expands Undisclosed Debt Verifications Service


Credit Plus Inc. has announced that it has expanded its Undisclosed Debt Verifications service and is now offering updates from all three repositories. Credit Plus is the first in the industry to offer debt verification updates from every bureau. Undisclosed Debt Verifications provide real-time monitoring into applicant credit activity from the initial credit file pull through closing.Click to continue

Wells Fargo and Fannie Mae Agree to $540 Million-Plus Repurchase Settlement

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On the heels of an $8 million-plus settlement with Flagstar Banks, Fannie Mae has reached another agreement, this time with Wells Fargo & Company, that resolves substantially all repurchase liabilities related to loans sold to Fannie Mae that were originated prior to Jan. 1, 2009.

The $591 million agreement was adjusted for credits related to certain prior repurchases, resulting in a one-time cash payment to Fannie Mae of approximately $541 million. At Sept. 30 2013, Wells Fargo had fully accrued for the cost of the agreement.

Mortgage Data Standards Propelling the Need for Education and Certification

Classroom_/Copyright: Getty Images/Credit: Creatas Images

The mortgage industry has been far from standardized throughout history. Before the government-sponsored enterprises (GSEs)—Fannie Mae and Freddie Mac—and the Federal Housing Administration (FHA) there were no true standards. The industry evolved from a paper and forms-based business transaction process to an electronic version. Processes began to mature, however, organizations were still required to have an in-depth and specific knowledge of each investor/insurers policies to conduct business. Smaller lenders and servicers would choose one investor or maybe a handful.Click to continue

Zillow Hosts Housing Forum

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Zillow Chief Economist Dr. Stan Humphries sat down with Barry Zigas, director of housing policy for the Consumer Federation of America and a commissioner on the Bipartisan Policy Center (BPC) Housing Commission, to discuss the BPC's plan for housing finance reform. A video of this discussion, entitled "Zillow Presents: Discussing Housing Finance Reform Options with Barry Zigas of the Bipartisan Policy Center Housing Commission, Facilitated by Zillow Chief Economist Dr. Stan Humphries," is now available on the Zillow Blog.Click to continue

Sens. Corker and Warner Discuss GSE Replacement Plan

Congress/Credit: Comstock

Earlier this week, Sens. Bob Corker (R-TN) and Mark R. Warner (D-VA) sat down with Zillow Chief Economist Dr. Stan Humphries to discuss their ideas of what the future of mortgage finance reform should look like in this country. Sens. Corker and Warner are co-sponsors of SB 1217, the Housing Reform and Taxpayer Protection Act of 2013.Click to continue

Altisource Announces Acquisition of Equator


Altisource Portfolio Solutions S.A. has announced that its subsidiary has entered into a definitive agreement to acquire Equator LLC. The acquisition is valued at a base price of $70 million on closing with contingent earn out consideration of up to an additional $80 million over three years, subject to Equator achieving annual performance targets. The acquisition is expected to close within 30 days and is subject to customary closing conditions.Click to continue

FHFA Seeking Public Input on GSEs


The Federal Housing Finance Agency (FHFA) is seeking public input on strategies for reducing Fannie Mae and Freddie Mac’s presence in the multifamily housing finance market in 2014.Click to continue