News

Freddie Mac announced the pricing of its first Structured Agency Credit Risk (STACR) transaction of the year: a $1 billion offering of debt notes whose buyers will share in the risk. According to the company, the offering "represents one of the largest subordinate mortgage credit securitizations ever brought to market."

The Consumer Financial Protection Bureau (CFPB) unveiled a new tool Friday aimed at making Home Mortgage Disclosure Act (HMDA) data more user-friendly. In a report released the same day, the CFPB said it collected HMDA data from 7,400 financial institutions in 2012 on 18.7 million loan applications. Not all new information would be made publicly available, and the new reporting guidelines would largely be in line with current industry standards.

USFN recognized several of its own at its annual Member Education Retreat & Annual Meeting, bestowing honors upon four USFN members and one member company. USFN president Marcy Ford presented the awards to each individual during the organization’s awards ceremony.

Tom Showalter, Chief Analytics Officer of Digital Risk, joins the broadcast to discuss QM and origination defect requirements and potential impact. As Chief Analytics Officer, Tom is responsible for the data, analytics and “decisioning” systems in use and under development. Click ...

It appears more consumers have taken notice of reports of slowing home price gains. The share of consumers in Fannie Mae's January National Housing Survey who said they expect home prices to increase in the next year fell 6 percentage points to 43 percent, while the share expecting prices to stay the same increased 7 percentage points to 45 percent. The average 12-month home price change expectation was 2.0 percent.

The Five Star Institute announced Monday the formation of the National Appraisal Congress (NAC). In response to a developing need for thought leadership and the promotion of best practices and execution, the NAC will serve as a collection of subject matter experts to foster collaboration in the real estate appraisal industry.

While the housing market made great strides toward recovery last year with improvements in foreclosures, home prices, and homeowner equity, the economy is “still healing” from the effects of the recent downturn, according to the latest Housing Scorecard from the Obama administration. Released Friday, the January report found several improving indicators and particular strength in the San Francisco metro area, which has benefited from significant government support.

A new commentary from Fannie Mae attempts to address a perplexing question: With mortgage rates down steadily in the last several years and greater opportunity for significant savings, why have so many borrowers elected not to refinance?

Ocwen Financial Corporation announced Thursday that plans to purchase the mortgage servicing rights of a portfolio worth $39 billion from Wells Fargo Bank have been halted by the New York Department of Financial Services (NY DFS). The Atlanta-based business serves as a financial services holding company. The transaction has been halted indefinitely, and any timeline for the completion of the deal remains undecided.

The National Association of Home Builders released new figures from their Leading Markets Index (LMI), revealing 58 out of approximately 350 metro areas have either returned to or exceeded their last normal levels of economic and housing activity. The index’s nationwide score registered at .87, meaning economic and housing activity is running at 87 percent of normal levels.