Andrew Martinez

1 week ago | nationalmortgagenews.com | Andrew Martinez

Experts are weighing the future of mortgage rates and guarantee fees following the Trump administration's strong yet mixed messaging on the future of Fannie Mae and Freddie Mac. President Trump in a Truth Social post Tuesday said he's working on taking the government-sponsored enterprises public, stating they would retain their "implicit guarantees," and that he would oversee the companies. It was the clearest statement yet from the administration on the GSEs' future, but larger questions remain.

1 week ago | today.westlaw.com | Andrew Martinez

Experts are weighing the future of mortgage rates and guarantee fees following the Trump administration's strong yet mixed messaging on the future of Fannie Mae and Freddie Mac. President Trump in a Truth Social post Tuesday said he's working on...

1 week ago | nationalmortgagenews.com | Andrew Martinez

Trustmark National Bank is enjoying an early exit from a consent order stemming from a Biden-era redlining investigation. The Jackson, Mississippi-based lender and servicer is free of the settlement with regulators 17 months early, following a federal judge's approval last week. The Department of Justice, the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency announced the $5 million settlement with Trustmark in October 2021.

1 week ago | nationalmortgagenews.com | Andrew Martinez

The Trump administration wants to back off yet another mortgage-related lawsuit, aiming to exit a dispute between borrowers and Mr. Cooper over alleged servicing junk fees. The Consumer Financial Protection Bureau asked a judge to withdraw its amicus brief supporting plaintiffs challenging Mr. Cooper's $25 expedited payoff quote statements. In that brief filed last August, the regulator argued the charge violated the Fair Debt Collection Practices Act.

1 week ago | nationalmortgagenews.com | Andrew Martinez

President Trump's housing regulators have touted their efforts to dismantle federal diversity, equity and inclusion initiatives in pursuit of reducing spending and waste. As a result, the conversation around mortgage lenders' efforts to serve communities identified by specific racial or cultural backgrounds have been further politicized, leaving these shops in the awkward position of determining the future of their own DEI efforts at the risk of alienating groups they aim to serve.