Mortgages

The agency’s new chief said eliminating the “adverse market fee” — in place since December — will make it easier for families to refinance while mortgage rates are still low.

Prosecutors have rested their case against onetime bank CEO Stephen Calk, who allegedly approved millions of dollars in loans in exchange for a potential job in the Trump administration. Federal Savings Bank employees have testified against Calk, whose lawyers have sought to shift blame to underlings

The White House's firing of Federal Housing Finance Agency Director Mark Calabria sparked immediate speculation about who will run the agency and help chart the future of the two mortgage giants. Potential nominees include ex-Obama administration officials, congressional staffers and members of the Biden transition team.

The Ohio community bank generated 76% of its 2020 revenue from the three-year-old business line. But mortgages are cyclical, and the bank wants to step back before things get rough.

The company is looking to sell 20 million shares, with a 3 million underwriters' option, at between $16 and $18 per share.

Consumer advocates and mortgage industry officials are urging Sandra Thompson, the new acting director of the Federal Housing Finance Agency, to undo many policies that her predecessor, Mark Calabria, put in place over the past year.

The Consumer Financial Protection Bureau issued a temporary final rule that allows mortgage servicers to initiate foreclosures on abandoned properties and certain delinquent borrowers, but it also outlined additional measures that shield distressed homeowners.

On Mar. 31, 2021. Dollars in thousands.

On Mar. 31, 2021. Dollars in thousands.

Ginnie Mae is allowing lenders to securitize modified home loans with this extended term as the Biden administration works to make more housing options available for struggling borrowers.

Gordon is currently president of the National Community Stabilization Trust, a nonprofit organization that promotes neighborhood revitalization and housing affordability.

The White House is working with state and local governments to distribute $46 billion in rental assistance and other programs over the next 30 days, aiming to prevent a flood of evictions when the federal eviction moratorium ends on July 31, administration officials said.

Stephen Calk, a Chicago banker, pushed through $16 million in sketchy loans to Donald Trump's onetime campaign manager because he "wanted a powerful government title," Assistant U.S. Attorney Alexandra Rothman said in her opening statement in Calk's criminal bribery trial.

The Community Home Lenders Association has called for suspension of federal limits on the loan volumes that Fannie Mae and Freddie Mac can purchase from individual lenders. The demand came on the same day that the Biden administration fired FHFA Director Mark Calabria and started the process of nominating his successor.

Thompson, who was most recently the deputy director of the FHFA’s Division of Housing and Mission Goals, replaces Mark Calabria, who was fired Wednesday afternoon.

The new calculation of borrowers’ monthly obligations will allow for a higher debt load from tuition, potentially opening eligibility to more Black applicants, according to public officials.

The lender's founder and CEO says the acquisition of Roscoe State Bank will give it new products and referral sources.

The Department of Housing and Urban Development reinstituted the “affirmatively furthering fair housing" measure, which the Trump administration had argued was overly prescriptive, and promised a later rulemaking to bolster the policy.

The average American’s financial picture is bleaker than government data suggests, according to the former comptroller of the currency. Research from his new organization, the Ludwig Institute for Shared Economic Prosperity, has found that unemployment is higher and household wages are lower than reported by the Bureau of Labor Statistics.

On Mar. 31, 2021. Dollars in thousands.