Researchers looking at proprietary Freddie Mac data found that the wealthiest 10% of borrowers saved $5 billion more on their mortgage refinances in 2020 than all other borrowers combined.
In a sign of frustration, on Tuesday the MBA turned up the volume, asking members of the Mortgage Action Alliance, its main lobbying arm, to call their congressman...
Under previous Director Kathy Kraninger, the CFPB claimed the impact from these changes would be minimal. According to the bureau, the vast majority of loans that received QM status due to the patch would also meet the new standards.
CSS, a joint venture of Fannie Mae and Freddie Mac, has been on something of a hiring spree of late. In 2020, at the direction of the Federal Housing Finance Agency, the company increased the size of the board by three members, the last two of which were picked early this year. In December, CSS also picked a new chief technology officer.
Treasury, which administers the capital magnet fund, uses the money to provide competitive grants to community development financial institutions and nonprofit housing organizations.
The industry veteran joins a growing list of highly regarded members of GSE leadership who have recently decamped for greener pastures in private enterprise.
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