The Federal Housing Finance Agency delayed plans to raise the base guarantee fee by 10 basis points on all mortgages securitized by Fannie Mae and Freddie Mac, giving newly appointed FHFA Director Mel Watt more time to evaluate the changes.
After much fanfare and delay, Rep. Mel Watt was officially sworn in as director of the Federal Housing Finance Agency. Entering his five-year term, Watt becomes the first Senate-confirmed director of the agency.
Currently, Rep. Mel Watt’s, D-N.C., nomination doesn’t have the necessary votes, but the situation remains incredibly fluid. Still, that hasn't stopped policymakers and advocacy groups from dropping breadcrumbs on the confirmation trail.
The greatest guessing game on Capitol Hill appears to be who will lead the conservator of Fannie Mae and Freddie Mac. However, there's no need to guess when the man best suited for the position is already in office.
The Consumer Financial Protection Bureau finalized clarifications to mortgage rules Wednesday, improving consumer protections in qualified mortgages and mortgage servicing.The corrections, clarifications and amendments were first...
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