The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

A real estate professor weighs in on the future of MLSs

According to research done by Sonia Gilbukh, a real estate professor at Baruch College, there are some reasons to be concerned about the current number of real estate agents and the future of MLSs.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

InvestmentsMortgageReal EstateAppraisals & Valuations

Mark Calabria to serve as chief economist for Vice President Mike Pence

Long-time housing reform advocate joins Pence's staff

Mark Calabria, a long-time housing reform advocate, will serve as the chief economist to Vice President Mike Pence, according to a report from Politco’s Lorraine Woellert.

Calabria previously served as the director of financial regulation studies at the Cato Institute, a think tank that is “dedicated to the principles of individual liberty, limited government, free markets and peace.”

Before joining the Cato Institute in 2009, Calabria worked on Capitol Hill as a member of the senior professional staff of the Senate Committee on Banking, Housing, and Urban Affairs.

In that position, Calabria focused on issues related to housing, mortgage finance, economics, banking and insurance for Ranking Member Sen. Richard Shelby, R-Alabama.

Earlier in his career, Calabria also served as deputy assistant secretary for regulatory affairs at the Department of Housing and Urban Development.

Calabria also held positions at Harvard University’s Joint Center for Housing Studies, the National Association of Home Builders, and the National Association of Realtors.

In his role within Pence’s office, Calabria could play a big role and be a sizable voice for housing finance reform.

From Woellert’s report:

(Calabria) gives President Donald Trump's White House "a voice around the table that will give them their philosophical true North,” said Jim Parrott, a senior adviser to former President Barack Obama’s National Economic Council.

He takes on a role similar to the one held by Jared Bernstein, who served as chief economist to former Vice President Joe Biden. Bernstein was a strong voice and public face for the Obama administration, speaking frequently on employment, economic inequality and the middle class.

“Bernstein was in exactly the same role and was pretty influential in our world,” said Parrott. “He played the role on our team of representing an economist version of Biden.”

As Woellert notes, Calabria has spoken about housing finance reform in many forms, including on the pages of HousingWire, in his career.

Woellert also points to a blog posted this week by Calabria, found here, where he addresses the Mortgage Bankers Association’s plans for the future of Fannie Mae and Freddie Mac.

And now, Calabria will bring his points of view to Pence’s staff, perhaps another indication that reforming the government-sponsored enterprises is indeed high on the Trump administration’s to-do list.

Latest Articles

Existing home sales pop the 2021 housing bubble boys

So far this year, every existing home sales print has been higher in 2021 than the closing level of sales in 2020, which was 5,640,000. Even with the unhealthy home price gains that we have seen in the last two years, more Americans have bought homes with mortgages in 2020 and 2021 than any single year from 2008-2019, and this looks perfectly normal with our current demographics. HW+ Premium Content

Sep 22, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please