Mortgage real estate investment trusts, along with investors, urged the Securities and Exchange Commission to maintain certain exemptions for mortgage REITs or risk further housing finance issues. REITs are seen as key in efforts to reduce the federal government’s current support of mortgage finance. “Mortgage-focused real estate investment trusts, such as Redwood, are well-suited to carry out this key mortgage banking business function,” said Andrew Stone, general counsel for Redwood Trust. “However, these companies need to continue to be able to rely on the [SEC] exclusion in order to efficiently and effectively carry out...

Three new housing professionals have joined the Department of Housing and Urban Development’s Single Family, Risk Management and Multifamily offices. Sarah Garecke was named senior policy advisor in the Single Family Office and will help organize the new Office of Housing Counseling. She was previously with the Furman Center for Real Estate and Urban Policy at New York University’s School of Law, where she launched the Institute for Affordable Housing Policy. She also co-authored the Directory of Affordable Housing Programs.