Jacob Gaffney is the Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s). At HousingWire, he began focusing his journalism on all aspects of the housing and mortgage markets.
"It has been my honor to serve President Trump and Secretary Carson and I am deeply grateful to both for this opportunity," her resignation letter states. "I will continue to promote the President's agenda to make this nation stronger and more prosperous for every American."
The list of no-no’s at Franklin First is long: inaccurate balance sheets, substantial lead generation payments to employees in an effort to dodge LO comp restrictions, transferring of funds to private businesses, using company money for personal expenses, doing business with unlicensed MLOs.
In a recent note, Odeta Kushi, a senior economist for First American Financial Corporation, said Millennial demand for homeownership was one of the biggest trends influencing the housing market in 2018. This is unlikely to reverse going into next year, the year after that, and many years to come.
Long-time housing finance reform advocate Mark Calabria is reportedly the Trump administration's choice to lead the FHFA after Mel Watt's term ends early next year. Calabria currently serves as Vice President Mike Pence's chief economist. As Pence's economist, Calabria famously called for the end of the conservatorship of Fannie Mae and Freddie Mac. Is that a sign of things to come?
“In today’s competitive environment, the best loan officers want to provide their clients with superior speed and service anywhere, anytime," says Movement Chief Executive Casey Crawford. Read more about it here, exclusive to HousingWire readers.
It's a tough market for mortgage lending and it's likely to get more difficult. That said, loanDepot CEO Anthony Hsieh is reportedly tired of his loan officers whining about it, allegedly sending an email to employees with strong feelings on the topic. What do you think of his tactic?
Of course, with interest rates rising, refinance applications are slowing down, too. Further, more and more Americans also report that they don't plan to bother even trying to apply for a refi in the next 12 months. Is this a sign of the times to come?
The program will provide financing for acquisitions and for recapitalizations of business plans that entail value-add, transitional or stabilized properties where additional seasoning or flexible pre-payment is required.