Saturday , 23 January 2021

Around The Web

Freddie Mac’s CRT Program ‘Came Charging Back’ in Q3

Freddie Mac’s Single-Family business announced Wednesday that its Credit Risk Transfer (CRT) program transferred credit risk via $6.4 billion of issuance on $167.3 billion of single-family mortgages from U.S. taxpayers to the private sector in the third quarter of 2020. The issuance included Structured Agency Credit Risk (STACR), Agency Credit Insurance Structure (ACIS), and approximately … The post Freddie Mac’s …

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Forbearances at Their Lowest Level Since April, But There’s a Catch; Election Week a Win For Rates

Another round of expirations reduced the number of active forbearance plans last week. Black Knight said the number of homeowners in COVID-19 related plans fell by 137,000 during the week, after a slight uptick the week before. The 5.0 percent improvement was about what was expected for the first week of the month. At the beginning of October over 700,000 …

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Forbearance Activity ‘Warrants a Close Eye”

After inching up last week, forbearances fell by 137,000 since last Tuesday, due to October’s forbearance expiration activity. The experts at Black Knight say this was “roughly what was expected for the first week of the month, though there is still some potential for further drops given the remaining scheduled expirations.” As Black Knight reported … The post Forbearance Activity …

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U.S. Workforce Slowly Recovering with More Jobs

There appears to be a bit of bounce in the step of economic activity in the U.S. as total nonfarm payroll employment spiked by 638,000 in October, coupled by a 6.9% drop in the unemployment rate, according to the U.S. Bureau of Labor Statistics. The story behind the story? The BLS indicated the springboard in … The post U.S. Workforce …

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Should Consumer Protections Account More for Fintech?

The global health crisis is harming many Americans’ financial histories, which, in the long run, could prevent large numbers of families from securing lending for a home. While federal proposals and programs have sought to safeguard consumers’ FICO credit scores, an editorial published on NextCity.com opines, these protections do not take into account the emerging … The post Should Consumer …

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No Major Reaction to Fed, But Another Nice Drop in Mortgage Rates

Any discussion of “all-time low” mortgage rates requires careful attention to specifics. Are we talking about weekly survey numbers or actual daily numbers? Intraday vs end of day? Best-case rates or averages? Purchases or refis? Depending on the specifics, it is true that some lenders are offering all-time lows on purchase mortgages. Refis are another story due to the new …

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Meet the New Chair of Fannie Mae’s Board of Directors

  Fannie Mae announced on Wednesday that Sheila C. Bair will take on the role of Chair of Fannie Mae’s Board of Directors. The Board unanimously passed a resolution appointing her Chair on October 28, and Bair will be starting her new role on November 20. She succeeds Jonathan Plutzik, who will remain on the … The post Meet the New …

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Nonprofit Calls on Policymakers to ‘Act Now for Housing’

About 30-40 million American homeowners and renters face foreclosure or bankruptcy and loss of housing when protective moratoria expire December 31, studies show. The global nonprofit Habitat for Humanity is demanding that Congress return to Washington, D.C., as soon as possible “to take urgent action on housing stability and investment.” Through its “Cost of Home … The post Nonprofit Calls …

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