The former Freddie executive said eliminating mortgage servicing rights, or transferring them to the GSEs, would eliminate the need for nonbank mortgage servicers to make servicing advances on delinquent loans.
FHFA and CFPB insiders expect the new administration to make quick changes in agency leadership, a process made easier by Republicans gaining control of the Senate.
Deputy Secretary of Treasury Wally Adeyemo hinted that the government might reduce its support of the FHLBanks if they don’t put more funds toward affordable housing.
The Federal Reserve announced a 50-basis-point reduction in the federal funds rate this week. Interest rates on mortgages have come down by more than that in recent weeks in anticipation of the Fed’s move.
Harris reiterates housing plan at debate; Trump vows to prohibit mortgages for undocumented residents; CFPB plans open banking rule for mortgages; Rocket to rebrand.
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
The 10-year Treasury rate is declining and the possibility of a recession is growing.
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