The Key to Reducing Post-Refi Boom Borrower Churn

In this webinar, PRMG Chief Lending Officer Kevin Peranio will help attendees sort through the right technologies as he shares the tech investments that have had the biggest impact on his business.

Tracey Velt breaks down the latest RealTrends 500 rankings

During the episode, Velt highlights which brokerages achieved top rankings in both categories for 2020, and shares what stood out to her the most about the rankings.

Navigating Closing Struggles in 2021’s Purchase Market

Join this webinar to discover the most current information on hybrid and full eNote eClosings and discuss key criteria to successfully implementing your eClosing strategy.

About 7M refi candidates missed the “forever rate” boat

Rates jumped to 3.17% last week and Black Knight reported that there are now just 11.1 million “high quality” refi candidates. The smallest number of potential refi candidates in a year.

Mortgage

Johnson, Brummer appointed to Fannie Mae board

Robert Hertz term extended three years

Fannie Mae announced today the appointment of Simon Johnson and Christopher Brummer to its board of directors, as well as the extension of Robert Hertz’s board term for another three years.

Fannie CEO Hugh Frater said Johnson and Brummer bring “deep economic, regulatory, and business expertise,” and Board Chairwoman Sheila Bair said the duo are “proven public policy leaders.”

The news of Johnson and Brummer’s appointment comes one day after Federal Housing Finance Agency (FHFA) Director Mark Calabria announced  the disbursement of $1.09 billion for Fannie Mae and Freddie Mac‘s affordable housing allocations. It’s the largest amount ever disbursed by the government sponsored enterprises, and more than double what was provided the prior year.

Fannie Mae’s full year net revenues increased 16% to $25.3 billion largely on the back of record acquisition volumes, while Freddie Mac recorded a net revenue increase of 18% to $16.7 billion.

Fannie Mae reported $138,558 in new business acquisitions in January 2021 – up robustly from January 2019, when it reported only $62,449. Fannie Mae also issued resecuritizations backed by $11.9 billion in Freddie Mac securities.

Johnson, an economist, is the co-founder of Baselinescenario.com and heads several departments at the MIT Sloan School of Management. He’s also a research associate for the National Bureau of Economic Research, a private nonpartisan organization that facilitates investigation and analysis of economic issues.

Johnson wrote an opinion piece for the Washington Post several years ago called “Mortgage Mavens,” where he discussed the impact of Freddie Mac and Fannie Mae on the 2015 housing economy. He was also a Bloomberg News columnist.

Brummer, a law professor at Georgetown, served as a member of the Biden-Harris presidential transition team. He is the current faculty director of the Institute of International Economic Law, and a nonresident senior fellow for the Atlantic Council’s GeoEconomics Center. He’s also as a member of the Commodity Futures Trading Commission’s subcommittee on virtual currencies.

Hertz is on the board of directors at both Morgan Stanley and Workiva Inc. He also serves as chair of the Audit Committee, the vice chair of the Compensation Committee, and as a member of the Nominating and Corporate Governance Committee.

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