Mortgages

GOP opposition and a packed Senate agenda have delayed the vote on Julia Gordon as head of the Federal Housing Administration. But industry representatives say that with FHA delinquency rates still elevated and loan forbearance plans expiring, there's an urgency for Congress to confirm her by year-end.

The federal bank regulators had relaxed certain requirements in April 2020 due to the COVID-19 crisis. But they said in a new joint statement that servicers “have had sufficient time to adjust their operations” since that time.

With its agreement to buy KS StateBank’s residential mortgage operation, Kansas-based Armed Forces is going all in on home lending.

On Jun. 30, 2021. Dollars in thousands.

Rising debt-to-income ratios were behind almost a third of refinance rejections among those 65 and older, according to an analysis from the Urban Institute.

The standards, if finalized, could shed light on how Fannie Mae and Freddie Mac are complying with the Federal Housing Finance Agency's new capital framework.

The agency said the risk management program for Cenlar FSB, which performs servicing functions for financial institution clients, was inadequate for the bank's size.

The industry is prioritizing Black and Hispanic consumers in the interest of social equity and to tap new markets amid declining refinance volume and rising rates.

After permitting remote appraisals on an interim basis during the pandemic, Fannie Mae and Freddie Mac will accept them outright starting in early 2022, the acting head of the Federal Housing Finance Agency said.

Democrats’ $3.5 trillion social policy package would appropriate over $300 billion for housing-related measures, including down payment assistance for first-time homebuyers. But those provisions could be on the chopping block as centrists try to trim the bill’s price tag.

Lawmakers appeared supportive of Alanna McCargo's nomination at a Senate hearing Thursday. If confirmed, the former Urban Institute vice president would fill a role that has been vacant since 2017.

The bank's head of home lending has been tasked with managing the mortgage division through a housing boom but also with fixing years of regulatory troubles. 

The proposal calls for a 20-year mortgage with Ginnie Mae and Treasury participation, but critics suggest that other measures would be more effective in bridging the gap in home equity.

On Jun. 30, 2021. Dollars in thousands.

On Jun. 30, 2021. Dollars in thousands

Sandra Thompson, who has been acting director of the Federal Housing Finance Agency since June, has won backing from the mortgage industry and community groups for the experience she brings to the role. The push comes as the administration is said to be considering Mike Calhoun of the Center for Responsible Lending.

The chair of the House Financial Services Committee endorsed acting Federal Housing Finance Agency Director Sandra Thompson as rumors abound that the administration is considering someone else for the job.

After exiting the business roughly 20 years ago, the San Antonio bank is working with tech consultant Infosys to help it build out a digital consumer lending business that will include home loans.

The Federal Housing Finance Agency is looking to revise the framework intended for when Fannie Mae and Freddie Mac exit conservatorship in order to encourage the transfer of credit risk to private investors.

Speculation has mounted that Mike Calhoun, president of the Center for Responsible Lending, is under consideration to lead the Federal Housing Finance Agency. His nomination would be an endorsement of proposals to treat Fannie Mae and Freddie Mac in a similar way as publicly regulated power or water companies.