Mortgage Professional America, Aug. 14 2017–Francis MonfortMortgage applications for new home purchases fell 12 percent in July from June, according to Mortgage Bankers Association’s Builder Applications Survey.
Category: Top National News
MBA President Stevens Defends Need for Multiple Guarantors in GSE Reform
Housingwire, Aug. 11, 2017–Brena SwansonAs the list of people commenting on how to execute GSE reform continues to grow, Mortgage Bankers Association President and CEO David Stevens, CMB, highlighted one of MBA’s main points and defended the need for multiple guarantors in the new system.
The Fed Has 6,200 Tons of Gold in a Manhattan Basement–Or Does It?
Wall Street Journal, Aug. 10, 2017–Katy Burne (subscription)Eighty feet below the streets of lower Manhattan, a Federal Reserve vault protected by armed guards contains about 6,200 tons of gold. Or doesn’t.
How to Fix Fannie and Freddie to Give Americans Affordable Housing
The Hill, Aug. 11, 2017–Orlando Cabrera While we have considered government-sponsored enterprise reform for years, Fannie and Freddie are about to hit two critical deadlines that impact their permitted reserves and retained capital in the next 18 months. Good and thoughtful decisions need to be made imminently.
HUD Swears in New Assistant Secretary for Fair Housing and Equal Opportunity
HousingWire, Aug. 11. 2017–Kelsey RamírezThe U.S. Department of Housing and Urban Development swore-in its new assistant secretary for fair housing and equal opportunity, Anna Maria Farías, on Thursday.
Fed Buys $5.2 Billion of Mortgage Bonds, Sells None
Reuters, Aug. 11The Federal Reserve bought $5.161 billion of agency mortgage-backed securities between Aug. 3 and Aug. 9, compared with $7.281 billion the previous week. In a move to help the housing market begun in 2011, the Fed has used funds from principal payments on agency debt and agency mortgage-backed securities it holds to reinvest in agency MBS.
Freddie to Consider Airbnb Rental Income
Mortgage Daily, Aug. 11, 2017Among a host of updates made by the Federal Home Loan Mortgage Corp. on rental income is the utilization of income from short-term rentals.
Ginnie’s Fiscal YTD MBS Issuances Surpass $400 Bil
Mortgage Daily, Aug. 11, 2017A modest volume of monthly securitizations on behalf of the Government National Mortgage Association have pushed fiscal-year volume so far past $400 billion.
Investors Take on Mortgage Risk from Taxpayers
Wall Street Journal, Aug. 14, 2017–Sam Goldfarb (subscription)Investors are snapping up a new type of security sold by Fannie Mae and Freddie Mac, increasingly assuming the risk of mortgage defaults from taxpayers.
Mortgage Firms Appoint Top Executives
Mortgage Daily, Aug. 11, 2017–Sam GarciaAmong the roles that have recently been filled at a variety of real estate finance firms are chief financial officer, president and chief executive officer.