National Mortgage News, Dec. 16, 2020–Bonnie Sinnock (subscription)The deadline for inclusion in Ginnie mortgage-backed securities has been extended and an exception will be made for some participations.https://www.nationalmortgagenews.com/news/ginnie-mae-provides-more-leeway-for-libor-indexed-reverse-mortgages
Category: Top National News
NEXA Mortgage Sued over Broker’s Alleged Data Theft
HousingWire, Dec. 16, 2020–James KleimannIn a lawsuit filed last week, Smart Mortgage claimed one of its former loan officers stole a database containing client names and information and brought it …
Is the Pandemic-Driven Suburban Shift Overstated?
Mortgage Professional America, Dec. 16, 2020–David KitaiMark Fleming, chief economist at First American, thinks we could be overstating the shift as a nationwide phenomenon, rather than something impacting a few …
U.S. Shoppers Pull Back Spending at Start of Holiday Season
Commercial/multifamily mortgage debt outstanding rose by $57.0 billion (1.5 percent) in the third quarter, the Mortgage Bankers Association reported this morning.
December Fed Meeting to Focus on Asset Purchases
Wall Street Journal, Dec. 16, 2020–Nick Timiraos (subscription)Federal Reserve officials resume deliberations Wednesday about how to communicate their plans to support the economy with large-scale bond buying.https://www.wsj.com/articles/december-fed-meeting-to-focus-on-asset-purchases-11608114600?
The Nail in the Coffin for Ending GSE Conservatorship Under Trump?
HousingWire, Dec. 15, 2020–Kelsey RamírezIn a letter Monday to U.S. Treasury Secretary Steven Mnuchin, the Mortgage Bankers Association and other housing industry associations expressed their opposition to a swift end …
December Fed Meeting to Focus on Asset Purchases
Wall Street Journal, Dec. 16, 2020–Nick Timiraos (subscription)Federal Reserve officials resume deliberations Wednesday about how to communicate their plans to support the economy with large-scale bond buying.https://www.wsj.com/articles/december-fed-meeting-to-focus-on-asset-purchases-11608114600?
The MicroMortgage Marketplace Demonstration Project
Urban Institute, Dec. 15, 2020–Alanna McCargo, Linna Zhu, Sarah Strochak, Rita BallesterosUrban Institute researchers served as the research partner for the MicroMortgage Marketplace, a demonstration project to explore the viability …
Top National News Item 4
Wall Street Journal, Dec. 15, 2020–Andrew Ackerman (subscription)Joe Biden’s election victory has likely ended the Trump administration’s efforts to return Fannie Mae and Freddie Mac to private hands. Treasury Secretary …
Pelosi, McConnell and Other Leaders to Meet on Spending, Stimulus Talks
Washington Post, Dec. 15, 2020–Mike DeBonis, Tony Romm, Seung Min Kim, Jeff SteinHouse Speaker Nancy Pelosi (D-Calif.) will host the three other most senior congressional leaders — Senate Majority Leader …