Housing Wire

Housing Wire

Three reasons there won’t be a housing crash in 2021

2020 came, and with it COVID-19. Five weeks into the crisis, demand for housing in the U.S. bottomed and then after about nine weeks, began to climb again, with purchase applications making a full V-shaped recovery by early June. The housing bubble boys had those five glorious weeks when it finally looked like the market would succumb to their dire …

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Biden nominates Rohit Chopra to head CFPB

President-elect Joe Biden announced several appointments Monday, including FTC Commissioner Rohit Chopra to head the Consumer Financial Protection Bureau. Chopra is a CFPB veteran, having previously served as assistant director, where he was the bureau’s top student loan watchdog. In 2011, the Secretary of the Treasury appointed him to serve as the CFPB’s student loan ombudsman, a new position established …

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People movers: Cherry Creek Mortgage, Knock, Radian, Atlas Title

HousingWire’s people mover section covers the latest hiring announcements in the real estate and mortgage industry. Kicking off this week’s leadership announcements, Cherry Creek Mortgage changed its structure and ownership. Through the restructuring, the company stated that it is 100% owned by the family of its co-founder, Jeffrey May, and announced the introduction of a new parent company of Cherry …

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FHFA: GSEs can’t exit conservatorship on retained earnings

The Federal Housing Finance Agency and the U.S. Department of the Treasury announced an agreement Thursday that would allow Fannie Mae and Freddie Mac to retain more of their earnings, but now the FHFA is saying this money alone will not be enough to remove the mortgage giants from conservatorship. “Today’s agreement that allows Fannie Mae and Freddie Mac to …

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How Biden’s $1.9T stimulus plan impacts housing

President-elect Joe Biden’s $1.9 trillion stimulus, unveiled Thursday as the American Rescue Plan, includes a call for extending the national moratorium on evictions and foreclosures until Sept. 30, while also setting aside funds to provide legal assistance to households facing foreclosure or eviction. Biden is also calling for an additional $30 billion in funding for emergency rental, energy and water …

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Wells Fargo continues to cede mortgage market share

Wells Fargo, the second-biggest mortgage lender in the nation, continued to cede market share to nonbank rivals in the fourth quarter of 2020. The lender originated $53.94 billion in the fourth quarter, a 12.5% decline from the prior quarter, when the bank originated $61.6 billion in mortgages. It also represents a not-insignificant decline from the $59.8 billion the San Francisco-based …

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Biden should make access to mortgage credit a top priority

As the Biden/Harris administration takes office, it faces many crises and challenges – including bridging the partisan divide, ramping up vaccines to end the COVID-19 crisis, jump-starting the economy, and facing huge budget deficits at a time when many believe we need to spend more to help the economy. From my perspective as the owner of a small independent mortgage …

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Criminal charges filed against Texas Realtor Jenna Ryan

Nine days after participating in the riot at the U.S. Capitol, federal criminal charges were filed against Frisco, Texas-based Realtor and broker Jenna Ryan. Ryan is charged with “knowingly entering or remaining in any restricted building or grounds without lawful authority” and “disorderly conduct on Capitol grounds,” according to the federal criminal complaint made public on Friday. Federal prosecutors point …

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