The deduction for mortgage insurance premiums and a tax break on forgiven mortgage debt had expired at the end of 2017 while funding for the National Flood Insurance Program was set to elapse on Dec. 20.
Mortgage insurer Radian recently modified the severance agreements it has with certain executives, boosting termination pay to 150% from 100%. Of course, this only applies if it’s a “qualifying termination event"...
FHFA Director Mark Calabria: "That might be fine for a normal company, but these are companies that are in conservatorship. They’re essentially in bankruptcy.”
October was also unusual because the flow of VA loans into Ginnie MBS exceeded the intake of FHA loans. That’s the first month of VA supremacy over FHA since the beginning of 2017 and perhaps in Ginnie’s history.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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