MBA Asks FHFA for Clarity on GSE Short-Term Rental Policies

The Mortgage Bankers Association, in a July 6 letter to the Federal Housing Finance Agency, asked FHFA for more definitive guidance on the government-sponsored enterprises’ policies on mortgages for properties that include short-term rental units.

June Jobs Report Blows Past Expectations

Total nonfarm employment increased by 850,000 in June, the Bureau of Labor Statistics reported Friday, well above expectations amid rising demand for services hit hard by the coronavirus pandemic.

Supreme Court Rules FHFA Director ‘Removable at Will;’ Calabria Out

The Supreme Court on Wednesday ruled that the structure of the Federal Housing Finance Agency is unconstitutional, allowing the President to remove its director at will. Shortly after the ruling, The Biden Administration removed Mark Calabria as FHFA Director.

Industry Briefs June 18, 2021

Fannie Mae, Washington, D.C., said economic growth expectations for full-year 2021 were revised modestly upward to 7.1 percent, one-tenth higher than the previous forecast, due to stronger-than-expected consumer spending data year to date.

May Housing Starts Seesaw Back on Track

One step back; one step forward. Housing starts have alternated between up and down during 2021, and in keeping with the pattern, improved in May after declining in April, HUD and the Census Bureau reported Wednesday.

Industry Briefs June 15, 2021

The Federal Housing Finance Agency issued a Request for Input on executive compensation at its regulated entities: Fannie Mae and Freddie Mac and the Federal Home Loan Banks.

May Employment Up 559,000; Unemployment Rate Drops to 5.8%

Total nonfarm payroll employment rose by 559,000 in May, the Bureau of Labor Statistics reported Friday—up substantially from May’s tepid numbers but still below consensus expectations, as hiring slowly recovers from the coronavirus pandemic.

Industry Briefs June 4, 2021

Zillow, Seattle, said Asian-headed households in the U.S. grew by 83% in the past two decades, far exceeding Latinx, Black, and white household growth. But that broad success masks major challenges to homeownership in the highly diverse community.