She’s not a brain surgeon, but a Democratic legislator from the Rust Belt. Midweek, Joe Biden revealed Rep. Marcia Fudge as his pick for Housing secretary.
In testimony before lawmakers, both Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell stressed that time and care is needed to raise capital before the GSEs exit conservatorship.
In areas where home price appreciation rises faster than conforming loan limits, Redwood's network of correspondent lenders gives it an edge in the jumbo loan market.
The industry was not expecting the FHFA to give ground on 4% Tier I capital for Fannie and Freddie. Now for the big question: What does it mean for lenders?
At the very least, mortgage executives are hoping for a delay in the implementation date on the new refi fee promulgated by Fannie Mae and Freddie Mac.
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