in News > Residential Mortgage
print the content item


Nine Democratic state attorneys general have written to President Obama and the leaders of Congress to remove Edward DeMarco from the helm of the Federal Housing Finance Agency (FHFA).

The Los Angeles Times reports that the attorneys general, led by New York's Eric Schneiderman and Massachusetts' Martha Coakley, accused DeMarco's policies of creating a roadblock to economic recovery.

"Under the leadership of Acting FHFA Director Edward DeMarco, Fannie Mae and Freddie Mac remain an obstacle to progress by refusing to adopt policies that will help maximize relief for homeowners," the attorneys general wrote in their letter. "In particular, FHFA's refusal to adjust its policies to allow for principal forgiveness and forbearance stands as a major impediment to addressing the foreclosure crisis."

The FHFA and the White House did not comment on the new letter.




Latest Top Stories

CFPB Selects Vendors And Lenders For Its Mortgage E-Closing Pilot

Five technology firms and seven lenders will participate in the CFPB's e-closing pilot, which will explore the viability of developing a standard process for closing mortgages using technology.


BofA To Pay Nearly $17 Billion To Resolve Mortgage Bond Probe

The agreement with the U.S. Department of Justice eclipses the $13 billion settlement JPMorgan Chase reached with federal and state authorities over similar allegations last November.


FHFA Seeks Feedback On Proposed Single Security For GSEs

The agency is requesting feedback from mortgage industry professionals on all aspects of the proposed single security structure and in particular, issues regarding the transition from the current system to a single security.


Ellie Mae To Buy AllRegs For $30 Million

"With the acquisition of AllRegs, Ellie Mae will expand its customer base and add a broad array of content and services that complement our portfolio of product offerings," says Sig Anderman, CEO of Ellie Mae.


Survey Shows ATR/QM Rules Are Negatively Affecting Approvals

In a survey of loan officers commissioned by the Federal Reserve Board, more than half said the CFPB's ability-to-repay/qualified mortgage rule has reduced approval rates for certain types of mortgages.

LenderLive_id1241
Hse SandyHook
Industry Resource
Orb Mobile
NAMFS_id1321
SWBC_id1313
FedHomeLoan_id1341
Safeguard_id1322