Barry Zigas is Director of Housing Policy for Consumer Federation of America and principal of the consulting firm Zigas and Associates LLC. He was President of the National Low Income Housing Coalition from 1984-1993 and Senior Vice President for Community Lending at Fannie Mae 1995-2006.
[Expert Opinion] By doubling the personal exemption and proposing to halve the mortgage eligible for the deduction to $500,000, House Republican tax proposals have opened the door to a fundamental shift in the tax treatment of housing. This is a rare opportunity to realign federal tax support for housing to help all taxpayers – renters and owners.
The fundamental problem with the recap and release approach is that starting any discussion about a future mortgage finance system with Fannie and Freddie is like looking through the wrong end of a telescope: the field of vision is very restricted and the details are hard to make out. Here's what the industry really needs to be asking about the GSEs.
It now seems all but certain that 2014 will end without any further progress on comprehensive mortgage finance legislation.
But the coming months will offer little comfort for those who rooted for such a stalemate in hope of avoiding hard decisions about fundamental parts of the current system.
The first thing you notice about New American Funding's Rick and Patty Arvielo is how much they like each other. That might seem like a foregone conclusion when you meet a married couple, but when that couple also runs an incredibly successful business together, I imagine it could get complicated. Read on to find out more about how this successful couple manages their life, and business, together.
For the first time since 1981, our industry is experiencing a rising interest rate environment. Some people may assume that the current market shift means their business will take a downward turn from which they will never recover. I don’t buy it. The way I see it, challenging times force us to refine our processes and practices.