Archive for July, 2009
-
Jul 21, 2009
No CommentsFederal Reserve Doing Targeted Exams of Mortgage Units
by Edward B. Kramer, Executive VP, Regulatory Programs There a significant consumer protection development that is impacting the mortgage banking subsidiaries of bank holding companies, according to an article in the July 21, 2009 edition of National Mortgage News. The Federal Reserve Board is expanding its consumer protection role by performing targeted exams of mortgage...
-
Jul 09, 2009
No CommentsHigher Priced Mortgages – Freddie Mac Guidance
Freddie Mac has issued their guidance about purchasing higher priced mortgages starting October 1st. Their guidance may have answered our questions about how to originate 5 year balloons and ARMS. For it appears they will not purchase these loans. This new wrinkle makes it even more important to test your loans early and often. If the loan...
