Category: Top National News

HousingWire, Mar. 29, 2017–Brena SwansonBetween the Consumer Financial Protection Bureau’s court case with PHH and a handful of bills circulating trying to overhaul it, the one thing that is for sure is that something will have to change, even if it’s simply CFPB Director Richard Cordray fulfilling his term and walking away in July 2018.

Bloomberg, Mar. 29, 2017–Joe LightA bipartisan group of senators told Mel Watt, the regulator who oversees Fannie Mae and Freddie Mac, that he shouldn’t allow the companies to recapitalize without congressional approval.

Politico, Mar. 29, 2017–Lorraine Woellert; Zachary Warmbrodt (subscription)Fannie Mae and Freddie Mac will make a $10 billion payment to Treasury this week as planned amid mounting political pressure over the transfer. MBA President and CEO David Stevens said given post-election momentum for Fannie and Freddie reform, “now would be exactly the wrong time for the regulator to independently recapitalize the GSEs.”

HousingWire, Mar. 27, 2017–Kelsey RamirezHispanics from all over the U.S. gathered in Washington, D.C. for the National Association of Hispanic Real Estate Professionals Housing Policy and Hispanic Lending Conference. MBA President and CEO David Stevens, CMB, told the audience that policy decisions will need to become less restrictive on the community to keep the momentum moving forward.

HousingWire, Mar. 27, 2017–Brena SwansonAfter updating attendees with the status of the industry, Mortgage Bankers Association Chief Economist Mike Fratantoni concluded his Tuesday morning presentation with a call to action: Be the change agent the industry needs in order to remain profitable.

National Mortgage Professional, Mar. 28, 2017–Phil HallMortgage Bankers Association Chairman Rodrigo Lopez challenged his peers to harness technology in a manner that will help enhance the customer experience while solidifying the homeownership environment.

Wall Street Journal, Mar. 28, 2017–Emily Glazer (subscription)Wells Fargo & Co. said Tuesday that it was downgraded on a key regulatory rating that focuses on its ability and willingness to lend to lower-income populations.

Bloomberg News, Mar. 28, 2017In a divided Congress, two senators are working across party lines to solve a persistent riddle for the housing market: What to do with Fannie Mae and Freddie Mac? The Mortgage Bankers Association has suggested turning Fannie and Freddie into privately-owned utilities with a capped rate of return and strict capital standards.

GoRion, Mar. 28, 2017–Sam BourgiJust 63 percent of American households owned a home in 2016–the lowest rate in 50 years–and there’s reason to believe the rate will continue to decline as low inventories, affordability challenges and an uneven recovery make homeownership less of a reality for many Americans.

HousingWire, Mar. 28, 2017–Kelsey RamirezMortgage Bankers Association CEO David Stevens said many policies only support one type of family structure, and don’t consider today’s changing demographics.