The manufactured home loan lender, a unit of Berkshire Hathaway subsidiary Clayton Homes, was accused of ignoring red flags that sent many borrowers into bankruptcy, default and ultimately out of their homes....
NextGenMortgage
Biden signs spending deal that averts a government shutdown
The legislation went to Biden early Saturday morning after the Senate voted 85 to 11 to approve the measure, which sailed through the House hours earlier. https://www.nationalmortgagenews.com/articles/biden-signs-spending-deal-that-averts-a-government-shutdown
Unpacking the drivers and costs of GSE repurchase demands
The average cost for a loan seller to buy back a mortgage from Fannie Mae or Freddie Mac for defects is over $32,000, a study from Reggora and Stratmor found. https://www.nationalmortgagenews.com/news/the-leading-drivers-and-costs-of-gse-repurchase-requests
LOs explain how poor communication harms broker partnerships
Loan officers say the main reasons real estate partnerships fall through are poor communication and mismatched expectations. https://www.nationalmortgagenews.com/news/why-communication-is-the-biggest-issue-between-los-and-brokers
Former Treasury official, MBS desk chief joins Freddie Mac
Craig Phillips worked on early efforts to move the government-sponsored enterprises toward a conservatorship exit during the first Trump administration. https://www.nationalmortgagenews.com/news/former-treasury-official-mbs-desk-chief-joins-freddie-mac