The Downpayment Toward Equity Act, sponsored by Sen. Raphael Warnock, D-GA, would grant up to $25,000 in assistance to first-generation homebuyers. Its fate, though, depends on the final size of the Build Back Better Act.
A risk-based capital regime could be in the works for Fannie and Freddie, though some GSE watchers suggest the whole exercise could be in flux. Meanwhile, Wells Fargo has a new servicing chief, Ann Thorn from Caliber Home Loans.
The agency market — FHA/VA and conventional conforming — still accounted for 86% of first-lien originations, but jumbo and ECM lending are gaining ground. (Includes two data charts.)
The share of mortgages in forbearance fell substantially over the past year, but the Department of Housing and Urban Development wants servicers to reach out to all homeowners who may still need loss-mitigation assistance.
If Ginnie Mae hikes its capital requirement as proposed, it could reduce the number of issuer/servicers. But some nonbanks would benefit from reduced competition.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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