The Lede
Top National News
Trump-Appointed Official Promises Full Push to Overhaul Plumbing of Mortgage Market
Wall Street Journal, Apr. 22, 2019--Andrew Ackerman, Ben Eisen (subscription)Mark Calabria, in his first interview since taking the helm of the Federal Housing Finance Agency, said he wants to put Fannie Mae and Freddie Mac--bailed out during the crisis, but now profitable--on the road toward returning to private hands, something Washington policy makers have tried and failed to do for the past decade.
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Herman Cain Withdraws Bid to Join Federal Reserve
Washington Post, Apr. 22, 2019--Heather LongHerman Cain, President Trump's planned nominee for the Federal Reserve, withdrew from consideration on Monday, after a lack of Republican support in the Senate doomed his prospects for confirmation.
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Recently Hot Housing Markets Now See Biggest Sales Declines
Bloomberg, Apr. 22, 2019--Prashant GopalBuyers in the tightest U.S. housing markets finally got what they've been looking for: inventory. But instead of sales surging as a result, they're sinking.
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Trump’s Housing Agency Cracks Down on Zero-Down Home Loans
Bloomberg, Apr. 22, 2019--Prashant GopalThe Trump Administration is cracking down on national affordable housing programs because of concern over growing risk to the government's almost $1.3 trillion portfolio of federally insured mortgages.
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Mortgage Before Marriage for Many Young Buyers
WTOP (Washington, D.C.), Apr. 22, 2019--Jeff ClabaughNearly 25% of millennial homebuyers want to buy a home before they get married.
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More Online Mortgage Shopping Equates Lower Servicer Retention Rates
National Mortgage News, Apr. 22, 2019--Bonnie Sinnock (subscription)Consumers increasing their online shopping for homes and loans is a reason why mortgage servicers' retention rates haven't improved much since the downturn, according to Mike Eshelman of Jamaya.
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Urban Institute: It Hasn’t Been This Easy to Get a Government-Backed Mortgage in 10 Years
HousingWire, Apr. 22, 2019--Ben LaneAccording to the new analysis from the Urban Institute, the level of mortgage credit available for loans backed by the Federal Housing Administration, Department of Veterans Affairs, and Department of Agriculture was higher during the fourth quarter than it was during any quarter since 2009.
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On the Precipice of Change: In Support of GSE Reform
Mortgage Media, April 22, 2019--David Stevens, CMBFormer MBA President & CEO says to protect generational impact of GSE reform process, policymakers must ensure the permanence of some of the most critical issues before any consideration to recapitalization and release.
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How Fannie Mae, Freddie Mac Dodged a Cap on CEO Pay
Washington Post, Apr. 22, 2019--Renae MerleThe housing companies may have found a way around a congressionally mandated pay cap. Fannie Mae and Freddie Mac created a new job--president--transferring some of the work traditionally done by the CEOs to the new positions, according to government investigators. The presidents will be paid more than $3 million each.
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