Socialist Rep. Alexandria Ocasio-Cortez, D-NY, will sit on the House Financial Services Committee, which oversees banking, mortgages, as well as Fannie Mae and Freddie Mac.
The flow of conventional mortgages with private mortgage insurance coverage into Fannie Mae and Freddie Mac mortgage-backed securities fell sharply in the fourth quarter – tracking a broader slump in purchase-mortgage business. [Includes three data charts.]
Joseph Otting, the comptroller of the currency, added the title of the Federal Housing Finance Agency acting director to his brief this week, effectively bringing the Mel Watt era at the agency to an end.