Inside Mortgage Finance, Sept. 13, 2021–Dennis HollierPresident Biden plans to name housing activist Mike Calhoun to be the next permanent director of the Federal Housing Finance Agency, according to multiple …
Category: Top National News
Ginnie Mae Extends Leeway on Mortgage Delinquency Measure
National Mortgage News, Sept. 13, 2021–Bonnie Sinnock (subscription)Ginnie Mae extended relief aimed at addressing the impact of forbearance on mortgage companies’ ability to meet typical delinquency thresholds for the third …
Libor Transition Stokes Sales of Risky Corporate Debt
Wall Street Journal, Sept. 12, 2021–Sebastian Pellejero (subscription)Managers of collateralized loan obligations are rushing to close deals ahead of the transition away from the London interbank offered rate.https://www.wsj.com/articles/libor-transition-stokes-sales-of-risky-corporate-debt-11631451601?mod=lead_feature_below_a_pos1
Only Time Will Tell Whether Buyers Who Overspent to Purchase their Homes Will Recoup their Investments
Washington Post, Sept. 13, 2021–Ilyce Glink, Samuel J. Tamkin“Single-family starts remain almost 12 percent higher than last year. There are now almost 690,000 single-family homes under construction — the largest …
Freddie Mac Blows Past Fannie as MBS Market Rebounds in August
Inside Mortgage Finance, Sept. 10, 2021–John BancroftIt doesn’t happen often, but Freddie ranked as the top agency MBS issuer last month because Fannie Mae production rose a more modest 9.8% …
COVID Mortgage Bailouts Are Expiring Fast, But Here’s Why a Foreclosure Crisis is Unlikely
CNBC, Sept. 10, 2021–Diana OlickThe number of borrowers in both government and private sector COVID mortgage bailout programs is falling fast, but for those still in trouble, the future is …
A Factory-Built Home as a Means to Affordable Housing
Washington Post, Sept. 9, 2021–Beth DeCarboThere are approximately 6.7 million occupied manufactured homes in the United States. Low inventory of single-family homes is driving more buyers to look at manufactured …
OCC Moves to Rescind 2020 Version of CRA Rule
HousingWire, Sept. 8, 2021–Maria VolkovaThe Office of the Comptroller of Currency announced it is moving to gut the controversial Community Reinvestment Act rule issued in 2020. The Mortgage Bankers Association …
The Scam That Keeps On Taking
National Mortgage Professional, September 2021–Lew SichelmanOne ruse that has been particularly persistent is the wire transfer dodge in which cyber-criminals impersonate title firms in trying to steal mortgage payoffs. So …
GSE Seller Buybacks Climb Toward Seven-Year High in 2021
Inside Mortgage Finance, Sept. 7, 2021–John BancroftRising buyback requests are an expected outcome from the historic flood of mortgage-backed securities issuance over the past five quarters. And while repurchase activity …