Fannie Mae CEO Tim Mayopoulos said the housing crisis has made people cautious about buying a home and that confidence in the market needs to be restored. Speaking at the Detroit Economic Club last week, Mayopoulos emphasized the need for affordable housing, calling the issue “urgent.” More than one million starter homes have been lost since the crisis, according to Mayopoulos. He pointed out that from 2012 and 2015, the most affordable one-third of homes rose 38 percent in price, and the inventory dropped by 39 percent. In addition to the decline in the number of affordable homes, he said people aren’t as comfortable in making a home purchase as they were before the crisis.
Mick Mulvaney has been in charge of the CFPB all week and we’ve yet to hear one prediction that subprime mortgage lending will revive with a vengeance…
Mulvaney’s ascension has raised expectations the bureau will alter its legal positions in high-profile cases such as those involving Ocwen Financial and PHH…
Acting Ginnie Mae president Michael Bright said the task force is examining critical issues, important data and lender behaviors related to refinancing loans…
Earlier this week, GR promoted two senior vice presidents – James Elliot and Chris Knapp – giving them additional responsibility over sales and recruiting…
Jumbo mortgage production was up 9.6 percent in the third quarter, a slightly faster growth rate than the 8.8 percent increase in first-lien originations during that period, according to a new ranking and analysis by Inside Mortgage Finance.
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