Urban Institute, Nov. 30, 2017–Edward Golding, Laurie GoodmanFormer HUD official and Urban Institute exec say Congress could take a positive step by removing the HECM portfolio from the MMI Fund.
Category: Top National News
The Surprising State With the Highest Hidden Flood Risk
Wall Street Journal, Nov. 30, 2017–Adam Bonislawski (subscription)Which state has the highest hidden flood risk? Take a guess. Heck, take 49 guesses. You might not get it even then. (It’s Arizona.)
Lawmakers Pressed to Save Flood Insurance Program
National Mortgage News, Nov. 30, 2017–Brian Collins (subscription)Numerous business sectors are urging lawmakers to act quickly to extend the National Flood Insurance Program before a crucial deadline next week.
FHFA Adds Incentives to Go the Extra Mile in Duty to Serve
National Mortgage News, Nov. 30, 2017–Bonnie Sinnock (subscription)Final “duty to serve” evaluation guidance for Fannie Mae and Freddie Mac aim to include more incentives for the agencies to go above and beyond mandatory increases in lending to underserved markets.
McCain a Yes on Tax Reform, Boosting Republians
The Hill, Nov. 30, 2017–Jordain CarneySen. John McCain, R-Ariz., said on Thursday that he will support the Senate Republicans’ tax plan, which GOP leadership wants to pass this week.
Appraisal Industry Innovations
Mortgage Daily, Nov. 30, 2017–Sam GarciaRecent innovations in the home valuation industry include improvements to the appraisal review process, appraiser performance measurement and enhanced desktop appraisals.
Mortgage Production Profits Sink
Mortgage Daily, Nov. 30, 2017The average independent mortgage banker earned 39 basis points on loan originations during the three months ended Sept. 30, the Mortgage Bankers Association reported.
2017 HW Vanguard: Rick Arvielo
HousingWire (magazine), Dec. 1, 2017 (subscription)Arvielo frequents Washington, D.C., to lobby on behalf of the industry and sits on the board of directors for the Mortgage Bankers Association, and on the group’s Residential Board of Governors. Arvielo also serves in an elected position on the steering committee for the Mortgage Action Alliance Committee and is the 2017-2018 chairman of the Mortgage Bankers Association Political Action Committee.
What You Need to Know About Fed Nominee Marvin Goodfriend’s Views
Wall Street Journal, Dec. 1, 2017–David Harrison (subscription)Marvin Goodfriend, the Carnegie Mellon economist nominated by President Donald Trump for a seat on the Federal Reserve’s board of governors, has a long and distinguished academic career likely to please Capitol Hill Republicans.
U.S. Fed Buys $3.4 Billion of Mortgage Bonds, Sells None
Reuters, Nov. 30, 2017The Federal Reserve bought $3.447 billion of agency mortgage-backed securities in the week from Nov. 23 to Nov. 29, compared with $5.516 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday.