The House Financial Services Subcommittee on Housing and Insurance convened a third hearing on housing-finance reform this week, this time hearing from Washington think tanks. A staffer said the hearings are meant to lay “a groundwork for legislation the committee is working on to finally build a housing finance system that is sustainable for homeowners, for hardworking taxpayers, and for our economy.”
A few mortgage lenders are offering a purchase-loan option that provides protection to borrowers who make a downpayment on their house and later have to sell at a loss due to a decline in value.
Two of the nation’s largest reverse mortgage lending platforms are on the auction block with a third contemplating an exit via a servicing sale. Coupled with higher upfront premiums on the product, all is not well with the sector.
A corporate tax cut, now being debated on Capitol Hill, could wreak havoc on the government-sponsored enterprises’ deferred tax assets and result in Fannie Mae and Freddie Mac having to take draws from the U.S. Treasury.
A handful of mortgage executives have suggested to us that trade groups are overreacting to the GOP’s tax overhaul plan and the way it treats the mortgage interest deduction...
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