Category: Loans

How Successful Has TARP Been After Seven Years?

DSNews  BY:  Brian Honea  January 2, 2016 Saturday, October 3, 2015, marked the seven-year anniversary of then-President George W. Bush signing the government’s Troubled Asset Relief Program (TARP) into law in order to help stabilize financial markets and restore Americans’ confidence in the economy. TARP became law in 2008 at the depth of the financial […]

Watt Insists 3 Percent Down Payment Loans Are Not Riskier Than Those With Lower LTVs

DSNews  By: Author: Brian Honea January 27, 2015 Federal Housing Finance Director (FHFA) Mel Watt, testifying before the House Financial Services Committee, which he once sat on as a Democratic U.S. Representative for North Carolina, insisted that mortgage loans with a 3 percent down payment backed by GSEs are no more riskier than those with a […]

Report Predicts Big Year for Housing in 2015 Based on Recent Government Actions

DSNews:  Author: Tory Barringer January 12, 2015 With 2015 less than two weeks underway, Fitch Ratings is the latest forecaster predicting great things for housing in the coming year. However, unlike other commentators, whose projections were based on encouraging market trends, the ratings agency says it’s a combination of recent government actions that reinforces its […]

Regulator Reports Improving Loan Performance for 4th Straight Quarter

DSNews, BY: Carrie Bay, 1/07/2014 The performance of first-lien mortgages serviced by large national and federal savings banks continued to improve in the third quarter of 2013, reports the Office of the Comptroller of the Currency (OCC). It marked the fourth consecutive quarter the agency has recorded greater loan performance among regulated entities.  The regulator’s latest report […]

Industry Completes 50K Loan Modifications for Homeowners in October

DSNews   BY: Ashley R. Harris    1/2/2014 The HOPE NOW Alliance recently announced that an estimated 50,000 homeowners received permanent, affordable loan modifications from mortgage servicers during October 2013. This total includes modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP). “As HOPE NOW begins to wind down 2013 activities and head into a seventh year […]

FHFA: Conforming Loan Limits Remain Unchanged

Conforming loan limits will remain the same according to recent guidance issued by the Federal Housing Finance Agency (FHFA).  The agency announced that the 2014 maximum loan limit for mortgages acquired by Fannie Mae and Freddie Mac will remain at $417,000 for one-unit properties in most areas of the country.   The Housing and Economic […]

Is Tighter Credit for the Better?

DSNews, BY: KRISTA FRANKS BROCK It’s no secret underwriting standards have tightened in recent years, and while many decry the heightened standards for making homeownership less accessible to some Americans, CoreLogic economist Sam Khater pointed out in a report released Wednesday that heightened standards are undoubtedly impacting delinquency rates for the better. “While there has been much […]

News From the FAMP Government Affairs Committee

News from Kimber White, Chair and Legislative Liaison   October 1…Government Shutdown in Effect…Now What? Federal agencies are preparing for a shutdown of large portions of the government that would become effective beginning October 1, 2013. The information outlined below addresses the impact on the mortgage industry: HUD / FHA: The FHA should not be […]

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