The mortgage industry shed 3,500 full-time workers in January, after shedding 1,900 jobs the previous month, according to new government figures.
House Financial Services Committee chairman Barney Frank, D-Mass., is calling on the CEOs of four major banks to work with the Treasury Department and banking regulators to deal with second mortgages that have become an obstacle to modifying troubled first liens.
Two subsidiaries of the government-owned AIG have agreed to pay at least $6.1 million to resolve charges that they discriminated against African American borrowers by failing to monitor loan brokers that charged excessive fees.
Fannie Mae purchased $54.9 billion of mortgages from its seller/servicers during January, a 23% drop from December but a significant improvement over the same month last year.
The Federal Deposit Insurance Corp. is planning to extend its “safe harbor” policy past March 31 while the board of directors continues to work on new securitization standards.
Republicans are calling on the House Oversight and Government Reform Committee to hold hearings on ways to reduce the costs of maintaining Fannie Mae and Freddie Mac in conservatorships.
PennyMac Mortgage Investment Trust, Calabasas, said its chief investment officer, Michael Muir, has resigned effective March 2.
