The dovish message of the Federal Reserve grew a little louder late Tuesday, as current Fed chairman Ben Bernanke said that the government's largesse is likely to continue for some time -- even after unemployment rates fall to below 6.5 percent.
No evidence of asset price misalignments at this time
November 14, 2013
Janet Yellen, vice chair of the Federal Reserve Board of Governors, appeared every bit the monetary policy dove that investors expected during her first big hearing in front of the Senate Banking Committee as Fed Chair nominee.
Yields on Fannie Mae and Freddie Mac mortgage securities fell to their lowest level in over a month after the Federal Reserve shocked the market by deciding not to cut back on its monthly purchases of Treasurys and mortgage backed securities.
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