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FHFA Suspends Future Repurchase Settlements After IG Criticism of Freddie Mac...
A couple days ago I wrote about an inspector general report from the Federal Housing Finance Administration, which showed that both Freddie Mac and the FHFA (the overseer of the GSEs) dropped the ball...
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Judge Moves BofA MBS Settlement from State Court
In a major setback for Bank of America, a federal judge has moved the venue for their $8.5 billion settlement with investors on mortgage-backed securities issues to federal court. In so doing, the...
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Odds, Ends on Obama Housing Plan
Just a few more things I wanted to highlight on the Obama mass refi plan announced today. Here’s the official release, by the way, of the changes to the Home Affordable Refinance Program (HARP)...
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California House Dems Call for Recess Appointment at FHFA
Brian Beutler writes that President Obama will likely have to make more recess appointments if he wants to staff key positions, including the newly-created vacancy at the Office of Management and...
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Ed DeMarco’s Fight Against Banks Over Repurchases
I think I’ve established that I disagree with Ed DeMarco’s position on principal reductions. And under his oversight, Fannie Mae and Freddie Mac have consistently tried to evade transfer taxes to local...
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FHFA Seeking Treble Damages in Repurchase Cases
Following up on an earlier item, not only is the Federal Housing Finance Agency becoming more aggressive in its fight with banks over repurchasing billions of dollars’ worth of soured loans, but they...
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Fannie and Freddie Overseer Announces New Repurchase Process
The Federal Housing Finance Agency has made a key change for new loans that the entities it oversees, Fannie Mae and Freddie Mac, will purchase or guarantee. Under the new plan, FHFA will identify and...
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Big Banks Whining That Fannie and Freddie Won’t Accept Their Toxic Loans...
Mitt Romney’s comments attributing the difficulty of getting a mortgage to Dodd-Frank QRM rules was really way off base. The rule is on track to be completed by the Consumer Financial Protection Bureau...
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Administration Looking to Replace Ed DeMarco at FHFA – Could His Lawsuits...
The Wall Street Journal reports that the White House will finally nominate a successor to Ed DeMarco at the Federal Housing Finance Agency for the first time since January 2011, incredibly enough. The...
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Glenn Hubbard’s Hilarious Deposition on Behalf of Countrywide
Glenn Hubbard, Dean of the Columbia University Graduate School of Business General business has kept me from reading the deposition Matt Taibbi writes about here, but it sounds amazing. Anyone who’s...
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