James B. Lockhart, III, Director of the Office of Federal Housing Enterprise Oversight ( OFHEO ) took the New York State Attorney General to task Thursday for involving Freddie Mac and Fannie Mae in his investigation of subprime lending. OFHEO is, of course, the Federal agency charged with regulating...
Maybe Fannie Mae's nightmare is over. Sort of. According to independent and joint press releases from the Securities and Exchange Commission (SEC) and the Office of Federal Housing Enterprise Oversight (OFHEO) on May 22 the two agencies have reached agreement to settle long running investigations, litigation...
So, why has appraisal fraud gained the foothold that it apparently has in the mortgage granting process ? Is anyone watching the store? According to the Demos Report, there are a lot of people who might be or maybe even are watching, but few who have both the power and the motivation to crack down on...
Mortgage giant Fannie Mae has filed Form 12b-25 with the Securities and Exchange Commission (SEC) to announce that it will be late - apparently very late - with its annual report to the regulator (Form 10-K) for the year ended December 31, 2004. The annual report was due March 15 with an automatic 15...
It has, by no means, burst, but the quarterly House Price Index (HPI) report issued by the Office of Federal Housing Enterprise Oversight (OFHEO) on March 1 indicates that there may be a slow leak in the housing bubble . Same house sales during the fourth quarter showed an increase of 1.69 percent over...