After suddenly stepping down as CEO of the Federal Home Loan Bank of San Francisco, the former Ginnie president showed up in Washington to tout the benefits of the home loan bank system.
Ginnie seeing strong demand from foreign investors; non-QM demand particularly strong in MBS market; McCargo lands at Federal Home Loan Bank of San Francisco; CMBS downgraded.
The Federal Home Loan Bank of San Francisco becomes the first FHLBank to allow members to use mortgage loans based on VantageScore 4.0 as collateral for advances.
Even though machine learning and other forms of artificial intelligence have made the mortgage industry much more efficient, experts are less optimistic it can reduce racial inequity in the system.
A new white paper released by the FHLBank San Francisco outlines the causes and possible solutions to the racial gap in homeownership. The bank’s CEO Bazemore identifies the highlights of the report.
Low-income borrowers could divert some of their downpayment funds to a reserve account that would pay loan costs during emergencies in a pilot program proposed by the Urban Institute.
Digital assets specialist Silvergate Bank bolstered its liquidity with an FHLB advance after the implosion of crypto king FTX caused a run on the bank's deposits in the fourth quarter.
Structural inequities make it more difficult for Black households and other people of color to make on-time rental and utility payments compared to the average white household, the Urban Institute noted in a new report.
UWM accepted six mortgage payments with cryptocurrency before ending the pilot program; closing costs increased in the first half of 2021; Fannie strengthened underwriting standards for condos and co-ops.