Jacob Gaffney is the Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s). At HousingWire, he began focusing his journalism on all aspects of the housing and mortgage markets.
In an interview last week with FOX Business Network’s Maria Bartiromo, Treasury Secretary Steven Mnuchin mentioned that profits of Fannie Mae and Freddie Mac may be used to fund non-housing Federal programs. This lead some to [wrongly] assume he meant specifically funding Obamacare. He didn't. This is what he really meant.
Freddie Mac CEO Donald Layton told HousingWire on Tuesday that he is perfectly comfortable with allowing some Federal Housing Finance Agency executives to express concerns with the government-sponsored enterprise's 0% capital buffer requirements; but it is an emotional response he does not share. And this is the reason why.
So what’s the big deal about this weekend being the 100th day in office for President Donald Trump? An S&P economist breaks down the outlook for GDP. Also, coverage kicks off at MBA Secondary. Find out who from HousingWire will be there. Finally, what's the significance of the latest mortgage bond? Click to find out.
Trump news is everywhere. Most of it is speculation as to what he will do next, and what it will mean for the mortgage and housing markets. But, here's how to find out what will happen in the housing and mortgage markets regardless of what Trump does. Hurry, sign up now! Today's the day for this FREE webinar!
At the height of the foreclosure crisis, HousingWire regularly ran ads from a nonprofit called No Paws Left Behind. The charity worked hard to find no-kill shelters for the droves of innocent cats and dogs abandoned when their owners fled the property. While we've lost contact through the years, and the fallout from housing bust began to ameliorate to some extent, it comes with some sadness to learn the act of abandoning pets is still happening.
While the industry is slow to adopt sexier elements, such as tech advancements and digital processing, there is one way to lure great talent — tell them how much money they can make if they work hard. Yet, it takes time before those first paychecks start to roll in. But how long? And how much money should you have in savings before becoming a mortgage broker?
Speaking at the Institute of International Bankers Annual Washington Conference, FDIC Vice Chairman Thomas Hoenig said that while Dodd-Frank is well intended, the regulations are too burdensome for all banks, "especially smaller banks." So here's what the FDIC wants to do, instead.
"If we do not appropriately manage the strategic decisions required in this environment, our franchise value, business prospects, results of operations and financial condition could be negatively impacted," Radian stated.
President Donald Trump's budget proposal reportedly includes a big change for the CFPB. We have the details for you. Plus, will the Fed raise rates in March? Here's one way to get a clue. Also, did the Oscars get its first HUD joke? Twitter thinks so. And Trump's election appears to be costing California some much-needed affordable housing.
HousingWire is hosting a free webinar next week on the state of the appraisal industry in 2017. We are already getting flooded with questions and, lucky for all of us, Zach Dawson, the director of collateral strategy at Fannie Mae, will join us. Here's how to sign up!
About a week before the November 2016 election, the U.S. Treasury market started to move lower. The cause of this increase in yield on the benchmark 10-year bond was not fear of an interest rate hike by the Federal Open Market Committee or the specter of higher inflation. No, the outlier event that shook the financial world out of years of torpor was a commercial real estate developer named Donald John Trump.
Fannie Mae’s National Housing Survey found that 37% of senior homeowners felt concern for their finances during retirement, yet only 6% of seniors are interested in utilizing home equity as a financial solution. With $6.2 trillion in home equity to bolster retirement income, why aren’t more senior homeowners taking advantage of products like reverse mortgages?
The time has come for internal workflows to be reimagined or all we’ll end up with is a shiny new chassis with a traditional, manual, cobbled-together process under the hood. I’m talking about the elements that make or break a mortgage transaction, such as valuations, investor requirements and reviews, compliance, surprises at the closing table, paper-based payment systems, onboarding, and the list goes on and on.