Nomura Holdings, Inc. (NMR) and The Royal Bank of Scotland Group plc (RBS), two of the world's biggest banks, will be subjected to a trial today. Notably, the banks have been accused by the Federal Housing Finance Agency (FHFA) of providing fraudulent details regarding mortgages sold to the government-backed mortgage financiers, Federal National Mortgage Association (FNMA) and Federal Home Loan …
On Friday, the Federal Housing Finance Agency (FHFA), regulator of Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FMCC), proposed new minimum financial eligibility rules for non-bank mortgage sellers who originate and service mortgages for the two government-owned enterprises.
Mortgage rates have reached their lowest levels since 2007, and these cuts could have a bigger impact on borrower's finances than the popular stamp duty changes.
The Federal Housing Finance Agency will now allow some homebuyers to take out mortgages with down payments as low as 3%.
WASHINGTON, Dec. 15, 2014 /PRNewswire/ — The Community Mortgage Lenders of America (CMLA) today called on Treasury Secretary Jack Lew and chief GSE regulator Mel Watt to take immediate action to cure the under-capitalization of both the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (GSEs). In a December 10, 2014 letter to the Federal Housing Finance Agency …