Lending

Fannie Mae names two additions to its board of directors

Welcomes Google Assistant Treasurer Karin Kimbrough and Coinbase legal pro Brian Brooks
Fannie Mae has announced the appointment of Karin Kimbrough and Brian Brooks to its board of directors, two heavy-hitters with legit banking, tech and legal expertise. Kimbrough works as assistant treasurer for Google, while Brooks is chief legal officer at Coinbase Capital.
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Housing market trends are stifling the jumbo mortgage market

But the WSJ says lenders aren't backing down
In the years following the financial crisis, mortgage lenders turned their attention to the jumbo mortgage market as high-end clients proved to be a safe and profitable bet. But now, recent trends taken a toll on the jumbo market, causing volume to fall 12% in the last year, a decline that outpaces the overall mortgage market by 5%. "Still, there are few signs banks are changing tack," The Wall Street Journal stated. "If anything, industry watchers say, they are becoming more competitive."
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Dreamers denied: Evidence mounts FHA is not backing DACA mortgages

Lenders back down as government actions disrupt home loans
Despite HUD stating recently that its policies have not changed in regards to the FHA backing mortgages for Deferred Action for Childhood Arrivals recipients, it appears that the opposite is actually the case. Or at least that’s how the mortgage lending industry is reacting. A new HousingWire investigation has uncovered lender bulletins or guidelines from a dozen different lenders each stating that Dreamers are not eligible for FHA financing.
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Kroll says some banks are rethinking viability of mortgage lending business

Predicts challenging market conditions will have some small retail operations closing up shop
The mortgage industry has witnessed very few mergers and acquisitions in the last year, despite what Kroll Bond Rating Agency calls a "fertile environment" for M&A activity. Why? Blame low profits and high origination costs. According to KBRA, the climate has some banks rethinking their positions, with some selling of mortgage assets and others simply exiting the business completely.
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Freddie Mac CEO Don Layton stepping down in July, David Brickman to take over

Layton set to retire July 1
Don Layton’s time as CEO of Freddie Mac will officially end this summer, the government-sponsored enterprise announced Thursday morning. Layton has led Freddie Mac since 2012, but the GSE announced last year that Layton would be retiring at some point in the second half of 2019. And Thursday, the GSE revealed exactly when Layton’s run as CEO will end, and who will replace him.
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Freddie Mac: Mortgage rates cool as spring's housing market heats up

The 30-year fixed-rate mortgage averaged 4.28% this week
Mortgage rates have fallen just as spring home buying season begins to heat up, according to the latest Freddie Mac Primary Mortgage Market Survey. Freddie's Chief Economist Sam Khater said the combination of improving affordability and more inventory than the last few spring selling seasons should lead to improved home sales demand.
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HousingWire announces engage.marketing agenda

Referral marketing, social selling, personal branding, video, podcast, voice and much more
When we started planning our second annual engage.marketing event, we invited marketing leaders from 10 lenders to serve on our advisory board, and asked them about the greatest challenges facing mortgage marketers this year. Armed with those insights, we've packed a ton of content into the day-and-a-half summit, covering topics that include referral marketing, personal branding, content marketing, how to build a marketing tech stack, how to use video, podcasts and voice effectively, and so much more.
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