A look at Biden’s first week in office

This episode reviews last week’s inauguration of President Joe Biden, examining which housing issues the new administration has already taken action on.

Biden’s executive order will extend foreclosure moratorium

President Biden revealed his plan to sign 17 executive orders his first day in office, including am extension of the eviction and foreclosure moratorium to at least March 31.

How servicers continue to protect neighborhoods amid COVID

We spoke with MCS CEO Caroline Reaves about self-service technology, the shift to virtual and how servicers can prepare for post-COVID success by improving processes today.

HomeBridge’s Brian White on diversity at a practical level

HomeBridge's Brian “Woody” White discusses ways to increase diversity within the housing finance industry.

Fannie Delinquencies Reach All-Time High at 5.52%

While serious delinquencies in the Fannie Mae (FNM) portfolio continue to reach new heights in January, mortgage-backed securitization (MBS) issuance dropped for the second month in a row in February, according to its monthly report. The serious delinquency rate at Fannie climbed to 5.52% in January – the most recent month of data – up 14 bps from December and doubling the 2.77% rate in January 2009. The single-family delinquency rate remains below the 4.03% rate in the portfolio of its brother Freddie Mac (FRE). Multi-family loans in the Fannie portfolio slipped into serious delinquency at a 0.69% rate in January, up from 0.63% in December. Fannie issued $43.9bn in mortgage-backed securities (MBS) in February, a 7% drop from the $47.6bn mark in January and a 2.8% decrease from the $45.2bn issued in February 2009. MBS issuances reached its peak in the last year in June 2009, when Fannie issued more than $130bn in MBS. Fannie’s book of business declined at an annualized rate of 1% in February. The gross mortgage portfolio also fell at an annualized rate of 14.2%. The new numbers came in a week after Timothy Geithner, secretary of the US Treasury Department, stressed the need of a process that would reform the GSE’s and remove “the umbrella of public protection” before Congress. Write to Jon Prior.

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3d rendering of a row of luxury townhouses along a street

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