Since the Federal Housing Finance Agency outlined its goals for 2013, which included the divestiture of higher risk assets, both Fannie Mae and Freddie Mac have put several bids wanted in competition lists into the market.
While the residential mortgage markets worry about what happens when Fed concludes its mortgage-backed securities (MBS) buy program at the end of next month, everyone else appears to be miles ahead, worrying about what the Fed Reserve is going to do with its heap-o MBS.
Melvin Luther Watt quietly slid into his office as the first appointed director of the Federal Housing Finance Agency. It was the end of last year, in mid-December. Christmas was coming and the markets were in the middle of the harshest winter in years. As he took over the office of Acting Director Ed DeMarco — himself the unassuming lightning rod for the nation’s housing policy — Watt gave no indication of what he intended to do with his new position; arguably the most powerful job in mortgage finance..
Crowdfunding has swept through large verticals of consumer finance, including student loans and credit card debt. And so, naturally, in a market of rising property values, the real estate market is the latest frontier for crowd-based financing. Read More
Like oxygen, warehouse lending is one of the mortgage industry’s essential life-supporting elements. And fortunately, the warehouse segment is in much better health today than it was six years ago, as we are back up to around 70 warehouse lenders at my last count. Read More