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.

Politics & Money

Biden taps Julia Gordon to be FHA commissioner

Nomination awaits confirmation in the Senate

The Biden administration has nominated Julia Gordon to serve as federal housing commissioner at the Department of Housing and Urban Development. As commissioner, Gordon would lead the Federal Housing Administration (FHA), supervise programs related to the private mortgage market and oversee the $400 billion Federal Housing Administration insurance portfolio.

The nomination follows a blistering week of federal policy moves that included the ouster of Federal Housing Finance Agency Director Mark Calabria; the appointment of Sandra Thompson as Calabria’s temporary replacement; and the nomination of David Uejio, the acting director of the Consumer Finance Protection Bureau, to serve as assistant secretary at HUD.

Gordon, a well-respected housing industry veteran, is currently the president of the National Community Stabilization Trust, which facilitates the rehabilitation of residential properties in underserved markets. Gordon is an expert in federal policy related to homeownership, community development and the nation’s housing finance system.

She managed the single-family policy team at the FHFA from 2011 to 2012, and more recently, was a member of the FHFA and HUD agency review team for the Biden administration.

David Dworkin, president of the National Housing Conference, applauded Gordon’s nomination. As the nation transitions to the post-pandemic period, housing policy will define how well the homeowners assistance fund is executed, what options FHA mortgage-holders have to stay in their homes, and how to deal with borrowers who cannot, he said.


The mortgage ecosystem is fractured – Here’s how to fix it

To improve the mortgage ecosystem, SitusAMC and ReadyPrice created a platform that connects originators with the secondary market.

Presented by: ReadyPrice

“There is no person in the U.S. who is more qualified for that job at this time than Julia Gordon,” said Dworkin. “She understands better than almost anyone how important it is to maintain stability of the neighborhood as well as the stability of the homeowner.”

Dworkin said that Gordon faces a potentially daunting task ahead, should the Senate confirm her nomination. She would then need to convince the best and brightest of the private sector to come to the FHA for a “fraction of what they are making,” said Dworkin.

“The challenge will be to convince them that they can make an impact, that this is a once in a lifetime opportunity,” he said.

As FHA commissioner, Gordon could help to make FHA loans more competitive in the market. Along with Department of Veterans Affairs borrowers, those with FHA financing often find that sellers and lenders are less interested in working with them.

Representatives of the housing industry also welcomed the news of Gordon’s nomination. Bob Broeksmit, president of the Mortgage Bankers Association, emphasized that her previous experience at both FHFA and NCST would provide her with a “unique perspective” on issues in the housing market.

“We look forward to continuing to work with her, Secretary Marcia Fudge, and others at HUD and in the administration to ensure a strong FHA program that provides affordable housing opportunities, both rental and owned, for all Americans, while also protecting taxpayers,” said Broeksmit.

Broeksmit also underscored the need to continue the effort to modernize the FHA, which lags behind other federal housing agencies.

“We also look forward to working with the agency to finish the much-needed work to improve efficiency, instill certainty and bring more lenders back to the FHA program.”

Senior HUD official Janet Golrick is currently serving as acting FHA commissioner. Dana Wade, who President Donald Trump appointed at the beginning of 2020, stepped down when Biden assumed the Presidency in January 2021. Before Wade, Brian Montgomery served as commissioner from 2018 to 2020.

Leave a comment

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