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.
According to Verizon’s 2019 Data Breach Investigations Report, 10% of the 2,013 breaches that occurred in 2018 were within the financial industry. Personal data was compromised in 43% of those breaches, which were largely attributed to privilege misuse, errors or unsecure web applications.
Rising interest rates often cause homebuyers to think twice about moving forward with a mortgage. In April, mortgage applications fell more than 7% after 30-year fixed mortgage rates reached a high for the month.