Podcasts about Federal Housing Finance Agency

Steve, Todd, and Aaron had the immense privilege of visiting the White House as part of President Trump's First 100 Days commemoration. Steve interviewed Ronald Vitiello, Customs and Border Protection senior adviser, about the state of the border and what's next in the fight to restore the nation's sovereignty. Bill Pulte, director of the Federal Housing Finance Agency, joined Steve to discuss why a multitrillion-dollar government agency had nobody actually at work. Then, White House Deputy Communications Director Kaelan Dorr joined the program to discuss the multifaceted, flood-the-zone strategy of the communications team and what they're working on next. Finally, Steve and the crew found Superman wandering around; Dean Cain joined the program to talk about why he's in D.C., the state of American storytelling, and his hopes for the upcoming James Gunn "Superman" adaptation.. RELIEF FACTOR: VISIT https://www.relieffactor.com/ OR CALL 800-4-RELIEF KEKSI: https://www.keksi.com/ use promo code DEACE15 BACKYARD BUTCHERS: https://www.backyardbutchers.com/pages/deace JASE MEDICAL: https://jasemedical.com/ and enter code “DEACE” at checkout for a discount on your order BIRCH GOLD: Text STEVE to 989898 Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of The Consumer Finance Podcast, Chris Willis is joined by Troutman Pepper Locke colleagues Lori Sommerfield and Lane Page to dissect two unexpected fair lending developments under the new Trump administration. First, we unpack the Consumer Financial Protection Bureau's (CFPB) surprising move to vacate its own redlining consent order with Townstone Financial, Inc. We then analyze the Federal Housing Finance Agency's (FHFA) dramatic policy shift requiring two government sponsored enterprises (GSEs, namely Fannie Mae and Freddie Mac) to terminate special purpose credit programs (SPCPs), as well as the broader implications for mortgage lenders. Join us for the twists and turns of this evolving fair lending regulatory landscape and learn what steps institutions should consider taking to mitigate risks.

In this week's Real Estate News Brief, Kathy Fettke dives into the February PCE inflation numbers, and what they mean for the real estate market. Kathy also breaks down major housing policy changes under the new Federal Housing Finance Agency director, Bill Pulte, including the rollback of key Biden-era policies. Plus, we discuss the latest mortgage application trends, with insights on refinancing, purchase applications, and interest rate movements. 00:00 Real Estate News Brief 00:30 PCE Data 01:53 Bill Pulte's Policy Changes 03:28 Mortgage Application LINKS JOIN RealWealth® FOR FREE https://realty.realwealth.com/join SYNDICATIONS: Wild Pine San Antoniohttps://realwealth.com/wildpine FOLLOW OUR PODCASTS Real Wealth Show: Real Estate Investing Podcast https://link.chtbl.com/RWS Real Estate News: Real Estate Investing Podcast: https://link.chtbl.com/REN Sources: 1. https://www.scotsmanguide.com/news/fhfas-pulte-rescinds-a-series-of-biden-era-housing-policies/?   2. https://www.bardowninvestments.com/pce-inflation   3. https://www.cnbc.com/2025/03/28/pce-inflation-february-2025-.html   4. https://www.scotsmanguide.com/news/mortgage-applications-decrease-in-the-mbas-latest-weekly-survey/?

The newly confirmed head of the Federal Housing Finance Agency, Bill Pulte, says he has no plans to lower the conforming loan limit — meaning Fannie Mae and Freddie Mac will continue backing mortgages up to $806,500. We'll break down what conforming loans are, why this limit matters, and how it ties into the Trump administration's plans to shrink the federal government's role in housing. Then, we unpack Zillow's latest rental report: rents are rising again, with multifamily units now outpacing single-family homes for the first time since 2024. But with affordability stretched and rent concessions stabilizing, is the rental market about to get tighter? Zillow Rent Report: https://www.zillow.com/research/february-2025-rent-report-34944/ Subscribe to the BiggerPockets Channel for the best real estate investing education online! Become a member of the BiggerPockets community of real estate investors - https://www.biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

(previously aired, had the wrong hearing) Troy Edgar for Deputy Secretary of Homeland Security Senate Confirmation Hearing: John Phelan for Secretary of the Navy Senate Confirmation Hearings: Stephen Miran for Chairman of the Council of Economic Advisers, Jeffrey Kessler for Under Secretary of Commerce for Industry and Security, William Pulte for Director of the Federal Housing Finance Agency, and Jonathan McKernan for Director of Bureau of Consumer Financial Protection Senate Confirmation Hearing: Keith Sonderling for Deputy Secretary of Labor President Trump's Bilateral Meeting with UK Prime Minister Keir Starmer Hearing continued for Keith Sonderling President Trump's joint Press Conference with UK PM Keir Starmer Hearing completed for Keith Sonderling

U.S. President Donald Trump and British Prime Minister Keir Starmer meet at the White House on Thursday. Starmer is the second European leader to meet Trump this week following French President Emmanuel Macron.Trump has threatened to double tariffs on China. An initial 10 percent tariff on Chinese goods went into effect earlier this month. He said the 25% tariffs on Mexican and Canadian goods would go into effect on March 4, as planned.Several of Trump's economic picks faced questions at a Senate confirmation hearing. Jonathan McKernan, nominated to lead the Consumer Financial Protection Bureau, testified before the Senate Banking Committee on his selection. Alongside McKernan, the panel also considered the nomination of Bill Pulte as head of the Federal Housing Finance Agency.

Watch The X22 Report On Video No videos found Click On Picture To See Larger PictureThe country is now preparing for the rate cut, the fake news and the corrupt politicians will push the narrative that the economy is incredible. It will be for a couple of weeks, then the economy will begin to have problems and the market show signs of weakness. Rig for Red.The evidence is now coming out, the people are learning that the [DS] is involved in sex trafficking, child trafficking pedophilia, blackmail etc. There is now panic in DC. Trump will release the declas that will confirm it all. Trump lets the [DS] know that the election will be to big to rig, they can try but they will realize they will not be able to cheat with the ballots. Trump sends another warning about election manipulation. (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:13499335648425062,size:[0, 0],id:"ld-7164-1323"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="//cdn2.customads.co/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); Economy https://twitter.com/KobeissiLetter/status/1835807046718960076   listings, elevated interest rates, and extremely high prices. Many buyers are waiting for borrowing costs to decline which has resulted in a stagnant market. This “lock-in effect” prevented the sale of about 1.7 million homes between Q2 2022 and Q2 2024, according to the Federal Housing Finance Agency. Everyone is waiting for lower rates.   4736 Sep 17, 2020 5:02:29 PM EDT Q !!Hs1Jq13jV6 ID: 30d223 No. 10685518  RIG FOR RED. Q Political/Rights https://twitter.com/LizCrokin/status/1835996613321322699   Tom Pritzker is the chairman and owner of the Hyatt Hotels Corporation. He was close with Epstein and allegedly raped Virginia Giuffre after Epstein trafficked her to him. Now get this: Last year I reported Pritzker had a scheduled meeting with Epstein and Bill Gates at the same Park Hyatt Hotel in New York City in 2014. You know what they say, fate loves irony! As I've been saying, Diddy is tied to Epstein and his alleged sex trafficker Rachel Chandler. Diddy's arrest is way bigger than you can imagine — it's the one domino that can take down the whole diseased house of cards! https://twitter.com/deluxe_pepe/status/1835997869372833860 https://twitter.com/FedupWithSwamp/status/1836007550333927514 https://twitter.com/qaggnews/status/1836102075417268351   https://twitter.com/718Tv/status/1835831012644810864 https://twitter.com/DonaldJTrumpJr/status/1836031722300813658 https://twitter.com/RichardGrenell/status/1836053289495900601 https://twitter.com/tomselliott/status/1836025152229822659   (likely orchestrated by anti-Trump apparatchiks) 5) Media keep flooding the zone w/ the original fake news anyway Stats: As you can see from the first chart, the corporate media spent at least 350 hours circulating the "bomb threats" story (note that these "bomb threats" reference came amidst a mention of "Trump"). Last night, Ohio Gov. DeWine announced the bomb threats were all hoaxes. And yet as of this morning, only 3 hours were spent last night announcing the hoax (vs. 35 hours yesterday discussing the original "bomb threats" story), and thus far today only 1 hour announcing they were hoaxes, vs. another 11 hours circulating the original fake news. https://twitter.com/realchrisrufo/status/1836081974613815363 https://twitter.com/EndWokeness/status/1835823860895404062 Butler County, Ohio Sheriff Richard Jones Sounds the Alarm on Invasion of Illegals: “Every State Is a Border State”  In a fiery speech released last week to the people of Butler County, Sheriff Richard Jones didn't mince words about the growing illegal immigration crisis. Pointing specifically to nearby Springfield, Ohio, the sheriff warned of a quiet invasion that threate...

President Joe Biden is taking decisive action to address the skyrocketing housing costs faced by millions of Americans. In a major announcement, the president called on corporate landlords to cap rent increases at 5 percent and unveiled plans to make more public land available for housing. These measures aim to make renting more affordable and create additional housing units. To achieve this, the president is urging Congress to pass legislation that would give corporate landlords the choice to either limit rent increases on existing units or risk losing valuable federal tax breaks. The proposal would ensure that rent increases are kept at a reasonable level, providing relief for struggling renters. Across the country, the administration is rolling out several other measures, including calling on Congress to support the Biden-Harris housing plan that would build over two million homes and provide thousands in mortgage relief. In addition, the Federal Housing Finance Agency is also taking action. For a list of these measures, you can visit whitehouse.gov. Learn more about your ad choices. Visit megaphone.fm/adchoices

Episode 711: On today's Unscripted, Neil Alldredge, president and CEO of NAMIC, talks with Mike Gerber, president and CEO of Builders Mutual, about the company's creative approach to improve jobsite safety for construction workers and employees.  Builders Mutual's Jobs-Site Safety Institute has been recognized as the 2024 overall winner of NAMIC's Award in Innovation.

Episode 707: The insurance industry plays a vital role in our financial security and societal progress. Yet, translating innovative ideas into real impact can be a challenge. On today's Unscripted, Neil Alldredge, president and CEO of NAMIC, talks with Phil Budden, senior lecturer at the Massachusetts Institute of Technology, about the critical link between innovation and the well-being of insurance companies and the communities they serve.

A few days ago, an article appeared in the Financial Times revealing that "Last month, the government-sponsored mortgage finance agency Freddie Mac filed a proposal with its regulator, the Federal Housing Finance Agency, to enter into the secondary mortgage market, otherwise known as home equity loans" The article's author, Meredith Whitney, claims that if approved, this "could begin to unleash almost $1tn into consumers' wallets. By the autumn, it could be on its way to $2tn." That would be a tremendous stimulus to the economy. But is it a good idea? Putting aside for a moment concerns of its potential inflationary impact, the Global Financial Crisis was a credit crisis triggered by bad housing loans. Would allowing the government-sponsored entities like Freddie Mac to unleash a flood of new loans risk repeating the sins of the past? For answers, we're fortunate to turn to mortgage lending expert & housing analyst Melody Wright. WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com #housingmarket #homeequity #mortgageloans

Aaron Klein, senior fellow at the Brookings Institution, and Mark Calabria, former director of the Federal Housing Finance Agency, debate the best way to address the housing crisis, as well as the dangers of politicizing banking regulation, whether the Fed is too worried about consensus, if the central bank is secretly working on a central bank digital currency and who should play The Sphere next. 

Mark Calabria, former director of the Federal Housing Finance Agency, and Aaron Klein, senior fellow at the Brookings Institution, discuss how politics factors into the Fed's monetary policy decisions, decry the rescue of uninsured depositors last year, debate how to fix liquidity rules and weigh in on revamping the FHLBs.

James Lockhart, former (and first) Director (CEO) of the Federal Housing Finance Agency, author of the award- winning book “America: Underwater and Sinking”, and is currently Senior Fellow of the Bipartisan Policy Center. Housing Crisis - Nearly every state in the U.S. is currently facing an affordable housing crisis

Inside Economics welcomes back Mark Calabria, the former director of the Federal Housing Finance Agency. We discuss the current housing affordability crisis and what policymakers should do to address it, the FHFA's response to the COVID-19 pandemic, and the risks posed by nonbank mortgage companies. The group also takes up the role of the Federal Home Loan Banks. Plenty of debate, and even some agreement.For more info on Mark CalabriaFor more info on Mark Calabria's book, Shelter from the Storm, click hereFollow Mark Zandi @MarkZandi, Cris deRitis @MiddleWayEcon, and Marisa DiNatale on LinkedIn for additional insight.

Matt Bisanz interviews Mickey Shemi, North America Structured Credit Head at Guy Carpenter, to discuss credit risk transfer trends with the Federal Housing Finance Agency and in the banking and insurance sectors.

With labor and management leaders preparing to sit down at the bargaining table, hundreds of employees at the Federal Housing Finance Agency may soon see changes in their workplace.Pay equity, employee engagement and the creation of a clear grievance procedure are top of mind for Nathan Watkins, president of the nearly brand-new bargaining unit under the National Treasury Employees Union.“It was almost exactly two years ago that a small group of employees, including myself, reached out to a couple of national unions trying to form a chapter at FHFA,” Watkins said in an interview. “We wanted, first and foremost, to give employees a voice.”The organization campaign for FHFA, a small financial regulatory agency with a staff of a little over 700 employees, culminated in an overwhelmingly majority vote to unionize in August 2023. FHFA employees voted 254-24, or 91%, in favor of the union's establishment. Currently, the bargaining unit represents about 500 employees. Learn more about your ad choices. Visit podcastchoices.com/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

With labor and management leaders preparing to sit down at the bargaining table, hundreds of employees at the Federal Housing Finance Agency may soon see changes in their workplace. Pay equity, employee engagement and the creation of a clear grievance procedure are top of mind for Nathan Watkins, president of the nearly brand-new bargaining unit under the National Treasury Employees Union. “It was almost exactly two years ago that a small group of employees, including myself, reached out to a couple of national unions trying to form a chapter at FHFA,” Watkins said in an interview. “We wanted, first and foremost, to give employees a voice.” The organization campaign for FHFA, a small financial regulatory agency with a staff of a little over 700 employees, culminated in an overwhelmingly majority vote to unionize in August 2023. FHFA employees voted 254-24, or 91%, in favor of the union's establishment. Currently, the bargaining unit represents about 500 employees. Learn more about your ad choices. Visit megaphone.fm/adchoices

The multiyear effort to change the credit scoring models required by Fannie Mae and Freddie Mac continues to move forward, and mortgage lenders, credit officers and compliance professionals need to know the latest developments. On the latest episode of the ABA Banking Journal Podcast, ABA VP Sharon Whitaker provides an update. Among other topics, Whitaker discusses: The operational challenges of moving from today's tri-merge system to merging just two credit reports. How FICO 10T and VantageScore 4.0 differ from credit scores in use today. Why rushing the transition might be counterproductive to the initiative's financial inclusion goals. The role of core platforms and other technology vendors in supporting the transition. What may happen in the Federal Housing Finance Agency makes the change but the Federal Housing Administration, Veterans Administration and others don't. Why the industry needs to see data on how the new credit scoring models would perform, and how banks can get involved in sharing feedback with FHFA. **** Learn more about the credit score transition at the American Mortgage Conference, April 15-17 in Savannah, Georgia. Contact Sharon Whitaker to join ABA's working group on the issue.

Teresa Bazemore, CEO of the San Francisco Federal Home Loan Bank, joins the podcast to discuss the nation's reeling housing market, and the role of the FHLB system. There's a lot to talk about as Teresa weighs recent criticism of the FHLBs in the wake of the banking crisis earlier this year, and the recent report from the FHLBs' regulator, the Federal Housing Finance Agency, proposing reforms to the system.For more information about Teresa Bazemore click hereMoody's Papers discussed in this episode click here and hereFollow Mark Zandi @MarkZandi, Cris deRitis @MiddleWayEcon, and Marisa DiNatale on LinkedIn for additional insight.

What is the Federal Home Loan Bank System? What is the Federal Housing Finance Agency looking for in its review of the system? What will the agency suggest in its impending report? And how can credit union advocacy make a difference?Council of Federal Home Loan Banks President/CEO Ryan Donovan, CUNA's former chief advocacy officer, rejoins the CUNA News Podcast to answer those questions and more.

We went to the HousingWire Annual where the community from across the housing ecosystem comes together to share strategies, drive business, discover new technologies, discuss best practices, and meet industry leaders. If you are in the industry or are interested in getting in the industry, this is a must-watch episode for you! There are so many takeaways that I am going to share with you. The speakers were phenomenal, Logan Mohtashami - Lead Analyst HousingWire, Sandra Thompson - Director of Federal Housing Finance Agency, Mike Simonsen - President of Altos Research, Frank Martell - President and CEO of loanDepot, and René Rodriguez - Keynote Speaker, Best-Selling Author. I have learned so much from the speakers and I had a great time seeing my friends in the industry again. 04:00 - Top Takeaways! 06:40 - The FEDs need to land the damn plane! 09:00 - Lay-offs on the horizon 14:27 - 20% down is Not Possible for an Average Person 18:06 - Brace Yourselves for the Next 6-8 months ----- Follow us on Instagram @kennybsimpson @krystlersimpson ----- SPONSORS: * Prime Corporate Services: Whether you're new to owning a business or owning property or you're an experienced business owner, Prime Corporate Services will help you and make the process so much easier. So, if you book a call the first thing they are going to do for you is help you understand what your business structure should look like, your corporate structure, tax planning, estate planning, and all of that. Maybe you're saying, I'm brand new to starting a business and all of this sounds foreign and complicated. Remember, this company helps new people just get started every day. They will help you form the entity that's best for you and walk you through the process. Visit https://primepartner.info/gitcg to schedule a free call! * Cost Segregation Services: We have been working with Tim Looney at CSSI for a few years now and he has saved our clients and our hundreds of thousands, if not millions of dollars, in taxes doing Cost Segregation Studies. Let me give you a few examples. We bought a property in 2019, if we had just used straight-line depreciation, we would have saved about $18,750. Because we did a cost seg we saved $258,000 – that's $239,350 more than standard straight-line depreciation in the first year! Call Tim Looney at (318) 469-9861 to schedule a complimentary property analysis, and tell him Krystle and Kenny sent you! #realestate #podcast #realestateinvesting #housingmarket #inventory #sandiego #sandiegorealestate #realestateinvestor #success #successmindset #investingtips #housingwire --- Support this podcast: https://podcasters.spotify.com/pod/show/getinthecashflowgame/support

Following the Federal Housing Finance Agency's Velocity TechSprint, the official leading the agency's conservatorship and fintech strategies joins Jo Ann to discuss all the ways the mortgage market is ripe for a technology overhaul. 

Ralph welcomes the CEO of the National Cooperative Bank, Casey Fannon to discuss his bank's work serving cooperatives and other member-owned organizations. The NCB helps finance affordable housing, healthy food, renewable energy, small businesses, community-driven health care, and non-profit organizations and generally advises cooperatives around the country on how to build and grow. Plus, Ralph talks a little more about the Trump indictments and responds to some of your feedback.Casey Fannon is President and CEO of National Cooperative Bank, a leading financial services company dedicated to providing banking products to cooperatives and socially responsible organizations nationwide.Access to capital is one of the major stumbling blocks for any small business, but particularly small cooperative and new, young cooperatives.Casey FannonThere's a small tent view of cooperatives and a large tent view of cooperatives. And I think that by focusing on the big tent…allows for a better NCB. I think NCB is better, and I think our consumer cooperatives are better off that we are tied into the cooperative ecosystem in a more fulsome way.Casey FannonIn Case You Haven't Heard with Francesco DeSantis1. The progressive, Wisconsin-based legal group Law Forward has filed a brief with the Wisconsin Supreme Court alleging that the state's legislative maps violate the state constitution due to rampant partisan gerrymandering. Not only are the petitioners demanding new legislative maps, they are also calling on the court to cut all existing senate terms short. In practice, this would mean the entire legislature would be up for election in 2024. This could mean a political sea-change in the Badger State.2. The LA Times reports that AOC, along with ten other progressive members of Congress, are planning to visit Latin American nations led by Leftist governments, in order to “learn from our counterparts in these countries, including how to confront disinformation and violent threats to our democracies.” She went on to add “It's long past time for a realignment of the United States' relationship to Latin America…The U.S. needs to publicly acknowledge the harms we've committed through interventionist and extractive policies, and chart a new course based on trust and mutual respect.”3. In a win for workers, the Department of Labor has issued a rule on the Davis-Beacon Act, which “sets a wage floor for construction workers on public-works projects,” per the American Prospect. This law is also known as the “prevailing wage,” law as it sets benchmarks for wages in a given area. This rule could have major positive ramifications for workers as President Biden's infrastructure package and the CHIPS Act are put into action. This New Deal era labor rule was significantly weakened under the Carter and Reagan administrations, and labor groups have been pushing for its restoration ever since. The article notes however that “the rule…is expected to be immediately challenged,” with the Associated Builders and Contractors trade group poised to file a lawsuit as early as next week.4. In more labor news, the Washington Post reports that 11,000 Los Angeles city employees joined the writers, actors, and hotel employees in a one day strike to “shut down the city of Los Angeles,” according to David Green, executive director and president of SEIU Local 721. Green added “The message we're sending is that our workers are just fed up. They've reached a breaking point. And we need these folks in the city to come back to the table for the good of the city.”5. VICE reports that a group of 32 economists have sent a letter to the Federal Housing Finance Agency in support of rent control. This is the latest tactic in a campaign led by People's Action. The article notes that “Economists have historically been the strongest critics of rent control,” but, like on the issue of minimum wage “some economists believe the orthodoxy on the topic has been contradicted by research and real-world examples.”6. The climate focused news site Heatmap reports that the Department of Energy is launching a new procurement program focused on technology to “remove carbon dioxide directly from the atmosphere.” Notably, while agencies have “previously granted money to carbon-removal companies, funded R&D, or subsidized their activities, it has never pledged to buy their services directly.” Utilizing the government's purchasing power to effect changes in society more broadly has been done before, perhaps most famously with automobile airbags, following the advocacy of Ralph Nader.     7. A new report on 90 year-old Senator Dianne Feinstein in the New York Times covers the legal battle between her daughter and her step-daughters over her late husband's estate. Buried in this report is a startling fact – Senator Feinstein's daughter holds power of attorney over her mother's legal affairs. It is disturbing to think that a person incapable of managing their own legal affairs is one of only two Senators representing 40 million people in the upper house of Congress.8. DCist reports that the Washington, D.C. Democratic Party is suing to prevent ranked choice voting and open primaries from appearing as ballot measures in next year's elections. D.C. Democratic Party officials have claimed these reforms would disenfranchise voters, with one opponent even calling ranked choice voting “electoral gentrification.” Implicit in these criticisms is the fact that the overwhelming power of D.C.'s Democratic Party may be challenged somewhat by these reforms, opening electoral space for independents or other parties.9. The tech website Stackdiary reports that the ubiquitous teleconferencing app Zoom has quietly added sinister new sections to their terms of service. Put simply, sections 10.2 and 10.4 explicitly allow for the company to collect user data and “use this data for machine learning and artificial intelligence, including training and tuning of algorithms and models…effectively allow[ing] Zoom to train its AI on customer content without providing an opt-out option.”10. The American Prospect reports that a bipartisan group of Senators, led by Senators Dick Durbin of Illinois and Roger Marshall of Kansas, are championing the Credit Card Competition Act, which aims to crack down on credit card swipe fees by “forc[ing] card issuers…[like] (Visa and Mastercard) to enable competitor networks to manage the processing and routing—the service for which swipe fees are levied.” Panicked by these developments, “shadowy right-wing groups have been issuing mailers and other advertisements claiming the [the bill] is a liberal handout for “woke” big-box retailers like Target. One set of mailers was bankrolled by the Conservative Accountability Foundation, a newly formed organization based in Sen. Marshall's home state of Kansas but without a listed address or phone number.” In other words, corporations and their political front groups are pushing the culture war button to avoid consumer protection regulation. What else is new. Get full access to Ralph Nader Radio Hour at www.ralphnaderradiohour.com/subscribe

On today's episode, Editor in Chief Sarah Wheeler talks with Tim Anderson, president of the e-mortgage division at Evolve Mortgage Services, about the FHFA's very first Velocity tech sprint.Related to this episode:FHFA's Jason Cave on mortgage tech adoption and what needs to happen nextHousingWire's YouTube ChannelEnjoy the episode!HousingWire Annual is where the community from across the housing ecosystem comes together to share strategies, drive business, discover new technologies, discuss best practices, and meet industry leaders. Our agenda is power packed with content to propel your company to the next level and connect you with the industry playmakers. Click here to learn more!The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team.

On today's episode, Editor in Chief Sarah Wheeler talks with Jason Cave, deputy director at the FHFA, about mortgage innovation and fintech.Related to this episode:Kevin Peranio on mortgage innovation and better days aheadHousingWire's YouTube ChannelEnjoy the episode!The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team

The Inside Economics team takes shelter from a tornado (true story), and Mark Calabria, senior advisor to the Cato Institute and former director of the Federal Housing Finance Agency, describes the FHFA's efforts to provide shelter to the housing and mortgage finance markets during the pandemic. His new book “Shelter from the Storm,” is a fascinating telling of that difficult period.For more on Mark Calabria, click here.For more information on Mark Calabria's book "Shelter from the Storm," click here.Follow Mark Zandi @MarkZandi, Cris deRitis @MiddleWayEcon, and Marisa DiNatale on LinkedIn for additional insight.

On today's episode, Editor in Chief Sarah Wheeler talks with Lead Analyst Logan Mohtashami about the FHFA house price index, purchase apps, inventory and mortgage rates.Related to this episode:FHFA House Price Index hits an all-time highHousing Market Tracker: Mortgage rates over 7%HousingWire's YouTube ChannelEnjoy the episode!Gathering of Eagles will bring together the nation's top residential real estate CEOs, Presidents, and C-Level leadership teams to grow, network, and set the pace for what's next in our industry. 2023's Gathering of Eagles is at Omni Barton Creek Resort in the rolling hill country of Austin, Texas from June 18-21. Click here to learn more and register your spot!The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team.

On today's episode, Editor in Chief Sarah Wheeler talks with Editor Chris Clow about recent federal and state regulatory actions, including a settlement between the New York Department of Financial services and OneMain Financial over cybersecurity risks.Related to this episode:OneMain Financial to pay $4.25 million to New York State over cybersecurity lapsesHouse bill would incentivize home selling in effort to boost supplyFHFA watchdog releases semi-annual report to CongressEnjoy the episode!Gathering of Eagles will bring together the nation's top residential real estate CEOs, Presidents, and C-Level leadership teams to grow, network, and set the pace for what's next in our industry. 2023's Gathering of Eagles is at Omni Barton Creek Resort in the rolling hill country of Austin, Texas from June 18-21. Click here to learn more and register your spot!The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team.

The Rich Zeoli Show- Hour 2: Tobias Peter—Research Fellow & Assistant Director of the American Enterprise Institute's Housing Center—joins The Rich Zeoli Show to discuss an editorial he co-authored with Edward Pinto, “Biden Courts Another Mortgage Crisis.” Peter and Pinto write: “The Biden administration is making moves that could imperil the safety of the housing finance system. Recent mortgage pricing changes, which have generally decreased fees for borrowers with lower credit scores and increased fees for those with higher scores, have rightly garnered public outcry, but they are the tip of the iceberg. The administration's other changes require just as much attention, particularly since the reigning mantra of the White House is to strengthen ‘racial equity and support for underserved communities'—regardless of who gets hurt or how much it costs. Missed in the debate about loan-level pricing changes is that the Federal Housing Finance Agency already distorts the riskiness of loans it originates, and ultimately taxpayers are on the hook for those loans.” You can read the full editorial here: https://www.wsj.com/articles/biden-courts-another-mortgage-crisis-federal-housing-finance-agency-mortgage-loans-risk-2008-homeownership-fe752269?mod=opinion_lead_pos7 On June 16th, the Los Angeles Dodgers will be hosting the Sisters of Perpetual Indulgence—a far-left, self-described LGBTQ+ affiliated group that has gained notoriety by mocking Catholics. Target has begun removing “LGBTQ+” related merchandise from its stores and websites. The retail corporation received backlash after selling children's swimsuits that promise to “bind” and “tuck”—appealing to trans-kids.

Tobias Peter—Research Fellow & Assistant Director of the American Enterprise Institute's Housing Center—joins The Rich Zeoli Show to discuss an editorial he co-authored with Edward Pinto, “Biden Courts Another Mortgage Crisis.” Peter and Pinto write: “The Biden administration is making moves that could imperil the safety of the housing finance system. Recent mortgage pricing changes, which have generally decreased fees for borrowers with lower credit scores and increased fees for those with higher scores, have rightly garnered public outcry, but they are the tip of the iceberg. The administration's other changes require just as much attention, particularly since the reigning mantra of the White House is to strengthen ‘racial equity and support for underserved communities'—regardless of who gets hurt or how much it costs. Missed in the debate about loan-level pricing changes is that the Federal Housing Finance Agency already distorts the riskiness of loans it originates, and ultimately taxpayers are on the hook for those loans.” You can read the full editorial here: https://www.wsj.com/articles/biden-courts-another-mortgage-crisis-federal-housing-finance-agency-mortgage-loans-risk-2008-homeownership-fe752269?mod=opinion_lead_pos7

The Rich Zeoli Show- Full Episode (05/24/2023): 3:05pm- According to reports, Florida Governor Ron DeSantis has officially filed to run for president in 2024. On Wednesday night, Gov. DeSantis is expected to formally announce his candidacy during a live-streamed interview on Twitter with billionaire Elon Musk. 3:15pm- According to polling organizations like CNN, Quinnipiac, and Harvard-Harris which have recently measured support among Republicans in the 2024 Presidential Primary, former President Donald Trump currently leads Florida Governor Ron DeSantis by 27% or more. Can DeSantis catch Trump? 3:40pm- Music legend Tina Turner has died at age 83. 3:45pm- Reacting to Gov. Ron DeSantis' presidential announcement taking place on Twitter, CNN analyst Sara Fischer warned that this is a “scary time” for Rupert Murdoch and Fox News. 3:50pm- Henry ruins The Rich Zeoli Show tribute to Tina Turner…PLUS will Ron DeSantis' presidential campaign announcement be boring? It could be more exciting than most people are expecting—because Elon Musk has proven repeatedly that he is capable of doing/saying anything. 4:05pm- Tobias Peter—Research Fellow & Assistant Director of the American Enterprise Institute's Housing Center—joins The Rich Zeoli Show to discuss an editorial he co-authored with Edward Pinto, “Biden Courts Another Mortgage Crisis.” Peter and Pinto write: “The Biden administration is making moves that could imperil the safety of the housing finance system. Recent mortgage pricing changes, which have generally decreased fees for borrowers with lower credit scores and increased fees for those with higher scores, have rightly garnered public outcry, but they are the tip of the iceberg. The administration's other changes require just as much attention, particularly since the reigning mantra of the White House is to strengthen ‘racial equity and support for underserved communities'—regardless of who gets hurt or how much it costs. Missed in the debate about loan-level pricing changes is that the Federal Housing Finance Agency already distorts the riskiness of loans it originates, and ultimately taxpayers are on the hook for those loans.” You can read the full editorial here: https://www.wsj.com/articles/biden-courts-another-mortgage-crisis-federal-housing-finance-agency-mortgage-loans-risk-2008-homeownership-fe752269?mod=opinion_lead_pos7 4:25pm- On June 16th, the Los Angeles Dodgers will be hosting the Sisters of Perpetual Indulgence—a far-left, self-described LGBTQ+ affiliated group that has gained notoriety by mocking Catholics. 4:45pm- Target has begun removing “LGBTQ+” related merchandise from its stores and websites. The retail corporation received backlash after selling children's swimsuits that promise to “bind” and “tuck”—appealing to trans-kids. 5:05pm- The Drive at 5: While appearing on Fox News with Dana Perino, women's cycling champion Hannah Arensman announced her retirement from the sport following a devastating loss to a biological male in a recent women's competition. 5:15pm- While speaking at a House Oversight hearing, Rep. Cori Bush (D-MO) outlandishly claimed that gas stoves were killing people—including many of her constituents. The progressive congresswoman seemingly called for a ban on gas stoves…while defiantly emphasizing “this is not a ban on gas stoves!” 5:30pm- According to a hidden camera interview with a Special Assistant for Sen. John Fetterman (D-PA), the senator would be “okay with…overturning the second amendment.” The interview was conducted by O'Keefe Media Group. 5:45pm- Last week, several Federal Bureau of Investigation (FBI) whistleblowers testified before a House Select Subcommittee on the Weaponization of the Federal Government. The hearing addressed alleged abuses of power by leadership within the FBI. In his opening statement, Rep. Jim Jordan (R-OH) warned the FBI whistleblowers that following their testimony before Congress they would likely be improperly targeted by elements of the federal government—citing Matt Taibbi as an example of what could happen. Four days after testifying before Congress, Internal Revenue Service officers alarmingly showed up to the home of independent journalist Matt Taibbi. 6pm: BREAKING NEWS: Florida Governor Ron DeSantis formally announces his candidacy for U.S. President during a live-streamed interview on Twitter Spaces alongside billionaire Elon Musk and PayPal co-founder David Sacks. Unfortunately, the announcement was plagued with technical issues—taking nearly twenty-minutes to sort out the problems before DeSantis was able to speak. Will this less-than-ideal launch have a lasting impact on his campaign?

There's been a lot of alarm in the real estate investment community lately over a newly enacted Federal Housing Finance Agency rule for Fannie Mae and Freddie Mac loans regarding mortgage fees.  The gist of the complaint is that homebuyers with good credit will now have to subsidize those with bad credit. Technically, this is true. However, the way it is being framed is quite misleading. The general argument goes something like this: Those with a 620 FICO score will get a 1.75% discount, and those with a 740 FICO score will pay 1%. Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode, Editor in Chief Sarah Wheeler talks with Michael Shemi, the principal advisor for FHFA's Division of Housing and Mission Goals, about the recent LLPA changes which have drawn a huge reaction from both consumers and those in housing.Related to this episode:DataDigest: Correcting the LLPA false claimsFHFA Director Thompson speaks out to correct LLPA misinformationMortgage industry takes another stand against the FHFA's DTI feeHousingWire's YouTube ChannelEnjoy the episode!Gathering of Eagles will bring together the nation's top residential real estate CEOs, Presidents, and C-Level leadership teams to grow, network, and set the pace for what's next in our industry. 2023's Gathering of Eagles is at Omni Barton Creek Resort in the rolling hill country of Austin, Texas from June 18-21. Click here to learn more and register your spot!The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team.

If you haven't heard, the government is giving people with good credit scores higher interest rates when it comes to getting a home loan. WHAT? Why are they punishing good credit? Well, as usual, David Sidoni is here to give you the REAL story behind those clickbait headlines, and it's not quite as bad as it sounds. But, keep listening so you know what's up and how it affects you. Here are some takeaways from today's conversation: Episode Highlights: [02:26] What's Going On? So, these headlines tell you that the government is the one behind all this. Well, not exactly. It's a government-sponsored enterprise (GSE), which, in this case, is supervised by the Federal Housing Finance Agency and is run like a for-profit business. Weird, right? They're called Fannie Mae and Freddie Mac and they are the ones that give out the loans. BUT it gets wilder. These loans, although the organizations are advised by a government-appointed director, aren't backed or insured by government money. And it's these ones that are facing the good credit score punishment, not ones that ARE backed by government money, so FHA, USDA, and VA loans are safe. [11:11] So, What Should You know? So, those with higher down payments and higher credit scores usually pay less, but with this new policy, you'll still pay less than people with low down payments and low credit scores, but the difference isn't that big. So, it's not as good for lower score people and not as bad for higher score people. Now, upfront fees for loans from Freddie and Fannie will face some changes called “loan level price adjustments.” These will tweak interest rates for many home buyers (remember, not those backed by government funds). [21:31] Is This a Subsidy? To get to the point, it's not exactly a subsidy. It's not really a Robin Hood situation where you're taking from the rich and giving to the poor. It's really just minimizing the cost difference in the spectrum. But, as a business, this really just doesn't make any sense because it doesn't even the playing field the way it should. But don't be too concerned about this, because if you're getting ready to buy a home, this could change by the time you are ready. Resources: How the US Is Subsidizing High Risk Home Buyers at the Cost of Those With Good Credit - New York Post Setting the Record Straight on Mortgage Pricing - FHFA

If you haven't heard, the government is giving people with good credit scores higher interest rates when it comes to getting a home loan. WHAT? Why are they punishing good credit?  Well, as usual, David Sidoni is here to give you the REAL story behind those clickbait headlines, and it's not quite as bad as it sounds. But, keep listening so you know what's up and how it affects you.  Here are some takeaways from today's conversation: An overview of GSEs and how they work Who will be affected by loan level price adjustments A look at the numbers and data (of course) Why this isn't exactly the subsidy it sounds like Episode Highlights: [02:26] What's Going On? So, these headlines tell you that the government is the one behind all this. Well, not exactly. It's a government-sponsored enterprise (GSE), which, in this case, is supervised by the Federal Housing Finance Agency and is run like a for-profit business. Weird, right? They're called Fannie Mae and Freddie Mac and they are the ones that give out the loans. BUT it gets wilder. These loans, although the organizations are advised by a government-appointed director, aren't backed or insured by government money. And it's these ones that are facing the good credit score punishment, not ones that ARE backed by government money, so FHA, USDA, and VA loans are safe.  [11:11] So, What Should You know? So, those with higher down payments and higher credit scores usually pay less, but with this new policy, you'll still pay less than people with low down payments and low credit scores, but the difference isn't that big. So, it's not as good for lower score people and not as bad for higher score people. Now, upfront fees for loans from Freddie and Fannie will face some changes called “loan level price adjustments.” These will tweak interest rates for many home buyers (remember, not those backed by government funds).  [21:31] Is This a Subsidy? To get to the point, it's not exactly a subsidy. It's not really a Robin Hood situation where you're taking from the rich and giving to the poor. It's really just minimizing the cost difference in the spectrum. But, as a business, this really just doesn't make any sense because it doesn't even the playing field the way it should. But don't be too concerned about this, because if you're getting ready to buy a home, this could change by the time you are ready.  Resources: How the US Is Subsidizing High Risk Home Buyers at the Cost of Those With Good Credit - New York Post Setting the Record Straight on Mortgage Pricing - FHFA

It's Tuesday, May 2nd, A.D. 2023. This is The Worldview in 5 Minutes heard at www.TheWorldview.com.  I'm Adam McManus. (Adam@TheWorldview.com) By Kevin Swanson Nigerian Muslims killed 20 villagers Last week, another 20 villagers were killed by Islamic extremists during a two-day massacre in the Nigerian Nasarawa State. Shockingly, the police never showed up. One resident told International Christian Concern, “We lost hope in the Nigerian Police.” Artificial Intelligence will lead to more persecution of Christians Artificial Intelligence is a rising concern for the persecuted church. Pastor Mao Zhibin is warning Chinese Christians that “with the data collected from WeChat and hundreds of millions of surveillance cameras which are processed with artificial intelligence algorithms, the power is way beyond any other totalitarian regime.” China recently banned its citizens on WeChat from using religious words, including “Christ.” Unbelievably, a baptism video posted on the platform recently led to a Chinese pastor's arrest.  Global Christian Relief lists five ways Artificial Intelligence could be used to persecute Christians. Surveillance and facial recognition. Censorship and content filtering. Deepfakes -- or digitally manipulating one person's likeness with another -- to create fabricated events or speeches. Predictive policing to anticipate crimes before they occur. Highly unregulated, autonomous weapons designed to kill innocent people.  King Charles' polytheistic ceremony this Saturday Now that a minority of those in Great Britain call themselves Christians, the coronation ceremony for King Charles this coming Saturday, May 6th, is adapting.   All major religions will be recognized in a more polytheistic ceremony. Archbishop Justin Welby issued a statement noting that, “The service contains new elements that reflect the diversity of our contemporary society.” Buddhist, Hindu, Jewish, Muslim and Sikh leaders will participate.   Yet, according to the official coronation oath, Charles will vow to “maintain the Laws of God and the true profession of the Gospel. … And do the utmost in his power to maintain in the United Kingdom the Protestant Reformed Religion established by law.”  Biden wants to penalize good creditors and reward bad ones The Biden administration has released new rules on home mortgages intended to punish families with good credit scores, and offering better mortgage rates to people with worse credit scores. In a letter to the White House, state treasurers from 27 states have weighed in on the policy, calling out the plan as a “disaster. It amounts to a middle-class tax hike that will unfairly cost American families millions upon millions of dollars. And – at a time when the real estate market has already slowed considerably due to high interest rates – it will further depress home sales." The National Association of Realtors has also come out against the new rules.  Since 2008, the federal government has issued these LLPA fees to help offset the risks borne by Fannie and Freddie Mac, the federal government's mortgage institutions, under the rubric of the Federal Housing Finance Agency. The fee is often hidden, as lenders will adjust the mortgage interest rates to include the fee. Leviticus 19:15 warns government officials: “You shall do no injustice in court. You shall not be partial to the poor or defer to the great.” And Exodus 30:15 says, “The rich shall not give more, and the poor shall not give less.” Coca-Cola shareholders resoundingly voted down Woke resolution Last week, the shareholders for Coca-Cola voted down a resolution advocating divestiture from pro-life states — get this — by a vote of 87% to 13%, reports World Magazine. By contrast, it seems that the boardrooms of America's corporations have already gone Woke.   A full 75% of the largest 15 companies in the U.S. have a 100% perfect score on the Homosexual Human Rights Campaign Woke survey. And two-thirds of the nation's 500 largest companies provide transgender-inclusive health insurance, up from 3% just 13 years ago.  First Republic Bank goes belly up First Republic Bank became the third big bank failure for the year yesterday. The Federal Deposit Insurance Corporation took control of it, dismembered it, and then handed what was left to JP Morgan Chase Bank, reports WolfStreet.com. That included $173 billion in loans, $30 billion in securities, and JP Morgan gets the $92 billion in deposits. Thus far, the three bank failures this year add up to about $540 billion in total assets. That compares to about $420 billion in bank failures in the 2008-2009 timeframe. The First Republic Bank failure will cost taxpayers another $13 billion, according to FDIC estimates.  Japan warms up to Abortion Kill Pill as fertility has plummeted And finally, Japan is moving towards approving the mifepristone Abortion Kill Pill.   A panel from Japan's Ministry of Health, Labor, and Welfare voted to approve the kill pill last month, allowing women to kill their pre-born babies up to the ninth week of gestation. Japan's fertility rate has dropped to 1.3 per woman. The countries with the lowest birth rates in the world, by use of conception control, abortifacients, and abortion, are Puerto Rico, Portugal, Spain, Bulgaria, Greece, Taiwan, Japan, and South Korea which is at a shocking .79. But let us remember the wisdom of Psalm 9:8.  “The Lord. . .will judge the world in righteousness.” Close And that's The Worldview in 5 Minutes on this Tuesday, May 2nd in the year of our Lord 2023. Subscribe by iTunes or email to our unique Christian newscast at www.TheWorldview.com. Or get the Generations app through Google Play or The App Store. I'm Adam McManus (Adam@TheWorldview.com). Seize the day for Jesus Christ.

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President Biden has refused to discuss the debt ceiling with House Speaker Kevin McCarthy until Republicans produce a budget. However, McCarthy has now successfully passed a debt ceiling bill in the House and is urging the President to come to the table with Republicans, who have 'done their job'. Meanwhile, President Biden has announced his run for re-election in 2024, and though many polls show he's currently the lead candidate in the Democratic Party, they also conclude the majority of voters don't want the President to run again, citing his age as a primary concern. Fox News Sunday Host Shannon Bream joins to weigh in on these topics as well as the latest oversight hearing on COVID school closures and China's diplomacy attempts with Ukraine. On May 1st, the Biden administration will roll out a new regulation from the Federal Housing Finance Agency that will impose higher mortgage fees on Americans with good credit to help subsidize low-income buyers with bad credit. The move aimed at housing equity has lawmakers concerned about the impact it will have on homebuyers and the middle class. FOX Business' Gerri Willis joins the podcast to explain how the change was designed to give more Americans the ability to purchase homes, how this change will cause those with good credit scores to soon pay even more on their mortgage payments, and the struggles occurring within the housing market.   Plus, commentary from the author of "Feminism Against Progress," Mary Harrington.   Learn more about your ad choices. Visit megaphone.fm/adchoices

Fannie and Freddie are changing some rules that could make home loans more expensive for people with high credit scores, and less expensive for those at the low-end of that spectrum. Critics say the rules amount to an unfair subsidy for high-risk borrowers, but the GSE's say it's a misconception about what they are changing.   Hi, I'm Kathy Fettke and this is Real Estate News for Investors. Please remember to subscribe to this podcast and leave us a review.   You may have seen the headlines already. One says: “A Bigger Subsidy for Risky Mortgages.” Another says: “Upside Down Mortgage Policy.” Another says this new policy will “screw Up the Homebuying Market.”   The headlines refer to a new rules from the Federal Housing Finance Agency regarding loan-level price adjustments or LLPAs for conventional loans. They officially kick in on May 1st, although some lenders have already been incorporating them into their fee structures.    What's an LLPA?   If you have a mortgage that's backed by Fannie or Freddie, you have paid or are paying this fee. LLPAS are fees that the government-sponsored enterprises charge when they buy loans from lenders. The fee is passed on to borrowers as a percentage of the loan and the amount is based on the borrower's risk factors such as credit score and down payment. People with higher risk factors pay higher LLPAs, and they can be paid up front or with higher monthly mortgage payments.    Business Insider offers a few examples of how the new pricing structure will impact borrowers.    1 - Someone who might see an increase could have a credit score of 700 with a 20% down payment for a $300,000 loan. They would have previously paid 1.25% of that loan amount or $3,750. With the new fee structure, they'd pay 1.375% or $4,125, which is an increase of $375. (1)   2 - Someone who might see a decrease could have a credit score of 780 but a down payment of just 3%. Previously, they would have paid .75% on a $300,000 loan or $2,250. With the new rules, they'd pay .135% or $375. That's a $1,875 reduction.   NAR, NAHB Opposed to the New Rule   The National Association of Realtors is among those criticizing the rule change. It is encouraging the FHFA to rescind the new rule especially given the affordability issues facing home buyers. It suggests instead that: “The GSEs could simply reduce the fees for (higher risk) borrowers and maintain the others at the same cost—especially given the sharp decline in affordability over the last year.” (2)   National Association of Home Builders CEO, Jerry Howard, told Newsweek: "In the short term, this may increase homeownership among the targeted group, but I'm afraid it could decrease homeownership among the middle class. I'm not sure that we're not robbing Peter to pay Paul here." (3)   FHFA Defends New Rules   FHFA Director Sandra Thompson issued a press release this week to “set the record straight.” She says: “Much of what has been reported advances a fundamental misunderstanding about the fees charged by the GSEs and why they were updated.” She says the pricing structure hadn't been updated for many years, and the new pricing structure is the result of a 2021 review. (4)   The goal: “To maintain support for purchase borrowers limited by income or wealth, ensure a level playing field for large and small lenders, foster capital accumulation at the Enterprises, and achieve commercially viable returns on capital over time.”   The overhaul has been done in steps over the last 18 months, beginning with fee increases for loans on second homes, high balance loans, and cash-out refi's. Then some fees were eliminated for first-time homebuyers with lower incomes but the means to meet their loan obligations. She says in her statement that this latest step is a recalibration of upfront tees that will make the housing finance system more resilient.   Among the misconceptions, she says:   1 - Stronger credit borrowers are not subsidizing weak credit borrowers. She claims that fees generally increase for lower credit scores, despite the down payment.   2 - She says the new fee structure does not raise the fees for all low-risk borrowers. She says many borrowers with high credit scores or high down payments will see no change in their fees or even a decrease.   3 - She says the old framework was not perfectly calibrated to risk. She says it was essentially outdated, and is now better aligned for the performance of a mortgage relative to its risk.   4 - The new rules do not encourage low-income borrowers to pay a lower down payment to benefit from lower fees because they will also have to pay mortgage insurance premiums.   5 - The elimination of upfront fees is not for people with lower credit scores but for borrowers with lower incomes, and she says they are essentially supported by the loan fees for second homes and cash-out refi's (and not by good credit, high down payment borrowers).   6 - The changes are not intended to stimulate mortgage demand, but rather to advance the soundness and safety of the GSE's.   The old and new fee structures are listed on the Fannie Mae website. You'll find links to those tables in the show notes if you'd like to compare. (5) (6)   Impact on Real Estate Investors   So how does this impact real estate investors?   Shawn Huss of Warsaw Federal told RealWealth: “For investment lending, it has helped out in some situations with better pricing when you have a greater down payment or a two to four unit. For a multi-unit, Fannie used to charge 1.0 points in additional pricing. Now if an investor's credit score is 780 or higher, it is only .375%. Another example is pricing used to be 2.125 points in pricing for 70% loan-to-value.  With the new pricing, at 70%, the pricing is better by .50 points which helps with lower rates.”   The new pricing structure only impacts conventional loans – not jumbo loans, FHA mortgages, or other non-conforming loans.   You'll find links to the stories I mentioned at newsforinvestors.com including the charts from Fannie Mae where you can compare the two pricing structures.   And please, remember to hit the Join for Free button at RealWealth and subscribe to our podcast.   Thanks for listening, Kathy   Links:   1 - https://www.businessinsider.com/personal-finance/biden-fhfa-new-mortgage-fee-structure-2023-4   2 - https://www.nar.realtor/washington-report/nar-advocates-for-fhfa-to-maintain-affordability-for-all-homebuyers   3 - https://www.newsweek.com/biden-raises-costs-homebuyers-good-credit-help-risky-borrowers-1795700   4 - https://www.fhfa.gov/Media/PublicAffairs/Pages/Statement-from-FHFA-Director-Sandra-Thompson-on-Mortgage-Pricing.aspx   5 - https://singlefamily.fanniemae.com/media/33201/display   6 - https://singlefamily.fanniemae.com/media/9391/display

Mark Calabria, the former director of the Federal Housing Finance Agency, offers his take on recent criticisms that the Federal Home Loan Banks have gone too far outside their mission—and what he would do to address them.

Mark Calabria was the Director of the Federal Housing Finance Agency and prior to that, he was formerly a chief economist for Vice President Mike Pence. Mark is also a previous guest of Macro Musings, and he rejoins the podcast to talk about his new book titled, Shelter From the Storm: How a COVID Mortgage Meltdown Was Averted. Specifically, David and Mark discuss Mark's time as the director of the Federal Housing Finance Agency, the relief programs his agency ushered through during the peak of the COVID crisis, the history and handling of Fannie and Freddie, and a lot more.   Transcript for the episode can be found here.   Mark's Twitter: @MarkCalabria Mark's Cato Institute profile   David Beckworth's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings   Click here for the latest Macro Musings episodes sent straight to your inbox! Check out our new Macro Musings merch here!   Related Links:   *Shelter From the Storm: How a COVID Mortgage Meltdown Was Averted* by Mark Calabria

Mark Anthony Calabria was the Director of the Federal Housing Finance Agency. He was formerly the chief economist for Vice President Mike Pence. President Biden removed him on June 23, 2021, following the Supreme Court decision in Collins v. Yellen. Learn more about your ad choices. Visit megaphone.fm/adchoices

Mark Calabria, former director of the Federal Housing Finance Agency and author of the new book Shelter from the Storm, talks about why he resisted calls to bailout mortgage servicers during the pandemic, and how he knew their predictions of another mortgage crisis were overblown.

In his new book, Shelter from the Storm, Cato's Mark Calabria details his time as head of the Federal Housing Finance Agency during one of the most turbulent times for housing finance. Hosted on Acast. See acast.com/privacy for more information.

The Biden Administration launched a broad-based effort by federal agencies to “improve the quality of life for renters.” The announcement comes at a time when 40% of renters are struggling to keep up with their rent payments, but raises questions about how to make housing affordable in a way that is fair for both renters and landlords. (1)   Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.   U.S. Rent Growth   Rents have been soaring across the country, as housing demand continues to outpace supply, but it has also been slowing down as the Federal Reserve works to slow inflation with rate hikes. According to Zillow, typical U.S. asking rents are $1,981, which represents a yearly growth rate of 7.4%. That's down from a peak of 17.1% last February. (2)   Rents and rent growth vary wildly from market to market. In Miami, year-over-year rent growth is 11.7% while Las Vegas is showing a negative .9% increase. A few other examples include Cincinnati with a rent growth rate of 10.2% and Indianapolis, at 9.6%.   Federal Renter Protection Effort   Getting back to the renter protection announcement, let's look at some of the top calls to action:   1 - The Federal Trade Commission or FTC and the Consumer Financial Protection Bureau (CFPB) will be investigating ways that tenants are being unfairly prevented from getting into housing or removed from housing they already have. Some of the practices they will be investigating include the use of background checks, tenant screening algorithms, adverse action notices for rejecting applicants, and information on an applicant's source of income.    2 - Those two agencies will also issue guidance for the credit reporting process, and coordinate enforcement efforts to ensure the accuracy of the information. They will also hold background check companies accountable if they engage in unfair procedures.   3 - The Federal Housing Finance Agency or FHFA will be involved with renter protections that include limits on excessive rent increases. The agency describes it as a public process that prioritizes transparency with updates, including one within the first six months. The FHFA will also encourage affordability for the multifamily market with affordability requirements for Fannie Mae and Freddie Mac loans.   4 - The Department of Justice is expected to issue guidance on the prevention of anti-competitive information sharing in the rental market.   5 - The Department of Housing and Urban Development or HUD will work on new rules that require at least 30 days notice before a lease is terminated for a public housing tenant who stopped paying rent.   6 - The Biden Administration plans to hold quarterly meetings with tenants and tenant advocates to make sure their voices are heard.   Blueprint for Renters Bill of Rights   All this is part of the so-called “Blueprint for a Renters Bill of Rights. The guiding principles include:   1 - Safe, Quality, Accessible, and Affordable Housing 2 - Clear and Fair Leases 3 - Education, Enforcement, and Enhancement of Renter Rights 4. - The Right to Organize   Housing Providers Involvement   Several housing provider groups are also participating in this effort.   The National Association of Realtors or NAR and its affiliate, The Institute of Real Estate Management, have made a commitment to promote resident-centered property management practices. That might include the use of alternative credit scores for applicants who don't have much of a credit history or the sharing of information with an applicant about Housing Choice Vouchers or rental assistance programs.   The National Apartment Association and the National Multifamily Association have also made commitments to promote resident-centered management practices. That might include help for tenants who want to improve their credit scores by reporting positive rent payments to credit bureaus.   While those agencies are promising those contributions, they are also speaking out against rent control. As mentioned in a Bigger Pockets blog: “Numerous studies have found that the long-term effects of rent control hurt the people these policies intend to help.” (3)   Why Rent Control Fails   There are studies by the Brookings Institution and Stanford that show rent control may provide short-term relief for renters but decrease housing affordability over the long-term. That's because landlords get out of the business, which reduces the amount of available housing, increases demand, and leads to higher rents.   The National Apartment Association says that rent control discourages the creation of affordable rental housing including new construction and rental housing renovations. The National Bureau of Economic Research says that rent control keeps smaller families from downsizing and opening up rental space for new larger households.   There are several detailed well-informed arguments against rent control, but at the heart of the issue is what is truly happening with rent inflation. Currently, rent growth is coming down. Yes, it is still growing year-over-year, and yes, a large chunk of the renter population is rent-burdened. That calls for a solution, but rent control is only a short-term solution. And it's very difficult to get rid of it once it's in place.    According to Bigger Pockets, the National Multifamily Housing Council would like to see direct subsidies to low-income renters and builders who create affordable housing. Many housing industry insiders also say that rental housing policy should be regulated at the state and local level.   Why Federal Rental Policy is a Bad Idea   In a CNN article, NAR's Kenny Parcell warns of the negative impact of federal policies saying they can “potentially drive housing providers out of the market” and make housing more expensive over the long-term. He also says: “Expanding the federal government's role in rental policy also places an even greater undue burden on mom-and-pop providers.” (4)   NAR said high rents are the result of a supply and demand imbalance, and that more affordable housing is needed to keep rents from rising like they have been. The NAA's Bob Pinnegar says: ““For months the National Apartment Association worked with the White House in good faith.” He says: “We stand by our commitment to promote industry resident services and practices, (but we are opposed) to expanded federal involvement in the landlord and tenant relationship. Complex housing policy is a state and local issue and the best solutions utilize carrots over sticks.”   That's it for today.   If you'd like to learn more about landlord tenant relationships and property management, you'll find several articles at newsforinvestors.com under the Learning tab. While you are there, please click the Join for Free button for complete access to all our data.    Please remember to subscribe to our podcast, and follow me on instagram @kathyfettke for real estate market updates and commentary.   Thanks for listening!   Links:   1 - https://www.whitehouse.gov/briefing-room/statements-releases/2023/01/25/fact-sheet-biden-harris-administration-announces-new-actions-to-protect-renters-and-promote-rental-affordability/   2 - https://www.zillow.com/research/december-2022-rental-report-31992/   3 - https://www.biggerpockets.com/blog/biden-announces-renter-bill-of-rights?utm_source=Iterable&utm_medium=email&utm_campaign=Newsletter%20%7C%2001/29/23%20Control%20(Free)   4 - https://www.cnn.com/2023/01/25/homes/biden-tenant-protection-renters/index.html

In this Real Estate News Brief for the week ending December 31, 2022... we say goodbye to a difficult year for real estate and hello to a new year that's filled with opportunity. You'll also hear about changes to retirement account rules, what happened to builder confidence in 2022, and what one institutional investor thinks of single-family rentals.   Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.   Economic News   We begin with economic news from this past week that includes significant changes to how taxpayers save for retirement. The changes are part of the SECURE ACT 2.0 which was written into the $1.7 trillion federal spending plan just approved by Congress and President Joe Biden. Some of the more than 90 changes will take effect right away, while others will be implemented in later years.   One of the biggest changes is an increase in the age that triggers mandatory minimum distributions, or RMDs, from tax-deferred accounts. Starting January 1st of this year, the age rises from 72 years old to 73 years old. It rises again in 2033 to 75 years old. The new rules also reduce the penalty for failing to take the required RMDs from 50% to 25% or 10% if the situation is corrected in a “timely manner.” Those changes are effective immediately.   There are also changes to early withdrawal rules that will go into effect next year. They currently allow 401k withdrawals before the age of 59-and-a-half for an “immediate and heavy” financial need, but there's a 10% tax penalty along with income tax on withdrawals. Under the new rules, taxpayers can withdraw up to $1,000 a year and self-certify that it's for a personal or family emergency. Plus, there will be no penalty for the early withdrawal.   Under the new rules, employers will be required to automatically enroll employees in 401k or 403b plans. That will take effect in 2025. There are also changes to the amount that workers are allowed to contribute which take effect immediately. Contributions will start with a minimum of 3% to a maximum of 10%. From there, they will rise 1% each year until they reach a range of 10% to 15%. This is supposed to help people save more for retirement.   There are many other changes. You'll find a link in the show notes to a nasdaq.com article that covers the more significant ones. (1)   Back to economic news and the latest unemployment report. Initial claims were 9,000 applications higher last week to a level of 225,000. Continuing claims were up 41,000 to 1.71 million. That's the highest level since last February and shows signs of a cooler job market, but the data is not an indication of major layoffs. Economists do expect the job market to soften more if the Fed continues to increase short-term interest rates. The unemployment rate was 3.7% in November. The Fed is expecting it to rise to 4.6% over the course of this year. (2)   Pending home sales are down again. The National Association of Realtors say they fell 4% in November to their lowest level since April of 2020. The year-over-year rate shows a decline of 37.8%. Potential sellers are putting off plans to list their homes, thanks to high prices for new homes and the high price of a mortgage. (3)   Those high prices are coming down a bit, however. The Case-Shiller national index shows that October home prices were down .3%. The 20-city index was down .5% with a year-over-year reading that dipped below 10%. That index is now at an annual home price growth rate of 8.6%. A different report on home prices from the Federal Housing Finance Agency shows that home prices were flat in October. The agency reports an annual increase of 9.8%. (4)   Mortgage Rates   Although mortgage rates have been coming down, Freddie Mac reports that the 30-year fixed-rate mortgage was up 15 basis points last week to an average rate of 6.42%. The average 15-year is currently at 5.68%. (5)   In other news making headlines…   2022 Decline in Builder Confidence   The National Association of Home Builders is highlighting stories that have attracted the most reader attention, and one of them is the housing market turning point that happened in April of last year. That's when the NAHB's Housing Market Index confirmed that higher home prices, construction costs and interest rates were making homes less affordable and builders less confident about selling them. (6)   This NAHB's monthly confidence level ended the year with a reading of just 31 in December. That's down from 84 in December of 2021. Anything below 50 is considered negative. The current reading is the lowest it's been since the middle of 2012. There is some upside to this story. Builders say that lower mortgage rates and slower price growth is luring buyers back to the market.   Investors Prep for 2023 SFR Demand   The single-family rental space is attracting another big player. Global commercial real estate firm Newmark is formalizing its Single Family Rental group. The press release says that the group will focus on investment sales, joint-venture equity placement and finance.   Newmark's Jeff Day says of the plan: “With Newmark's significant presence in the multifamily and alternative real estate sectors, and a growing institutional interest in the SFR space, formalizing this practice was a logical next step.” Newman says its SFR group has already participated in transactions worth more than $15 billion. The press release commented about strong demand among renters for detached homes and an expectation that that will continue in the coming years.   That's it for today. Check the show notes for links. And please remember to hit the subscribe button, and leave a review!   You can find out about the mom-and-pop version of single-family rental investing at our RealWealth website. You can sign up for free at newsforinvestors.com, and have access to our educational materials, our data, our experienced investment counselors, and our curated list of real estate professionals.   Thanks for listening. I'm Kathy Fettke.   Links:   1 - https://www.nasdaq.com/articles/these-are-the-biggest-changes-to-retirement-plans-under-secure-act-2.0   2 - https://www.marketwatch.com/story/jobless-claims-move-higher-in-latest-week-11672321106?mod=economic-report   3 - https://www.marketwatch.com/story/u-s-pending-home-sales-fall-4-in-november-to-the-lowest-level-since-april-2020-11672239997?mod=economy-politics   4 - https://www.marketwatch.com/story/home-price-growth-falls-in-october-as-market-feels-effect-of-high-mortgage-rates-11672149882?mod=economic-report   5 - https://www.freddiemac.com/pmms   6 - https://eyeonhousing.org/2022/12/top-posts-of-2022-housing-market-at-inflection-point-as-builder-confidence-continues-to-fall/   7 - https://www.nmrk.com/insights/press-releases/newmark-introduces-national-single-family-rental-group

In this Real Estate News Brief for the week ending December 3rd, 2022... new limits for 2023 conforming loans, the hours tenants need to work to pay rent, and a single-family rent growth slowdown that's still good news for landlords.   Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.  Economic News   We begin with economic news from this past week. The inflation gauge favored by the Fed showed a bigger drop in price growth, but a report on job creation and wage growth showed that the economy is still running too hot. The Personal Consumption Expenditures Index or PCE shows a .2% increase for the October core rate which is down from a .5% rate of growth in September. The current annual rate is now 5.2% for the PCE core rate which excludes food and gas prices. The improvement suggests that inflation is stabilizing. (1)   The government also released a report that shows stronger-than-expected job growth in November and a sharp increase in wages. That's good for workers, but a hot job market contributes to inflation. The report shows that companies added 263,000 new jobs in November – Wall Street had forecast around 200,000 – and that wages surged .6% to an average of $32.82. As MarketWatch reports, that's the largest increase in 13 months. The unemployment rate was unchanged at 3.7%. (2)   Initial jobless claims were lower. There were 16,000 fewer applications to a total of 225,000 initial claims. That was also a surprise. Economists had expected a much bigger decline. The number of ongoing claims did move higher, however, to the highest level since last February. They rose 57,000 to a total of 1.61 million. Economists say that unemployment numbers can also be difficult to interpret during the holiday season. (3)   Meantime, Fed Chief Jerome Powell spoke at the Brookings Institution on Wednesday. He said that the central bank may decide to slow the pace of interest rate hikes at the upcoming meeting but he also warned that the terminal rate may go higher than originally anticipated which means smaller rate hikes for a longer period of time. He said the Fed needs to see clear evidence that inflation is declining, including lower prices for housing.   Some economists are now predicting a half-point rate hike at the December meeting, followed by three (3) quarter-point rate hikes next year. That would bring the short-term rate to a range of 5 to 5.25%. Powell said during his speech: “The truth is that the path ahead for inflation remains highly uncertain.” (4)   The housing market continues to cool, with existing home sales down 4.6% in October. According to the National Association of Realtors, it's the fifth month in a row they've been down. Year-over-year, pending home sales are down 37%. Home sales have stalled for several reasons including high prices and rising mortgage rates. (5)   Home prices have started to come down. The S&P CoreLogic Case-Shiller national  price index was down .8% in September. Year-over-year prices still show a 10.65% rate of appreciation however. (6)   Mortgage Rates   Mortgage rates are coming back down. Freddie Mac says the average 30-year fixed-rate mortgage dropped 9 points to 6.49%. The 15-year was down 14 points to 5.76%. Freddie attributes the decline to optimism that the Federal Reserve will move more slowly with the rate hikes. (7)   In other news making headlines…   Conforming Loan Limits for 2023   The government released new higher limits for 2023 conforming loans. The new amount that borrowers can get for loans guaranteed by either Fannie Mae or Freddie Mac will run from a base amount of $726,000 to more than one million dollars. More expensive counties will qualify for higher amounts with the highest tier at $1,089,300. (8) The Federal Housing Finance Agency regulates Fannie and Freddie and has published a county-by-county list with conforming loan limits. (9)   The limits are based on average home prices in each area. If home prices fall, the loan limits will not be reduced but they will not be increased again until home prices move above the current conforming loan amounts.   Hours Worked by Tenants to Pay the Rent   A new analysis shows that tenants are working more hours to pay their rent. Research by Zillow shows that a typical full-time employee must work about 63 hours to pay the average rent of $2,040. That's about 36% of the average tenant's paycheck. Anything above 33% is considered “rent-burdened.” (10)   The situation is the result of robust rent growth and wages that are not rising as fast as rents. Labor statistics show the average hourly wage has grown 23% over the last five years and that rents have gone up about 37%.   Rent Growth is Slowing for SFRs   Data shows that rent growth is slowing down. According to CoreLogic, which tracks single-family rent growth, year-over-year rents were down for a fifth month in a row but were still at double digits.   The data shows the annual single-family rent growth was 10.2% in September from a high of 13.9% in April of last year. CoreLogic economist Molly Boesel says that SFR rent growth is coming down, but it's still more than twice what it was before the pandemic. (11)   That's it for today. Check the show notes for links. And please remember to hit the subscribe button, and leave a review!   To find out more about rental real estate, go to newsforinvestors.com. You can join for free and get access to our market data and our curated list of real estate resources. That includes our experienced investment counselors and other real estate professionals that can help you get where you want to go with real estate.   Thanks for listening. I'm Kathy Fettke.   Links:   1 - https://www.cnbc.com/2022/12/01/key-inflation-measure-that-the-fed-follows-rose-0point2percent-in-october-less-than-expected-.html   2 - https://www.marketwatch.com/story/u-s-adds-263-000-jobs-in-november-and-wages-rise-sharply-still-too-much-for-the-feds-liking-11669988407?mod=economic-report   3 - https://www.marketwatch.com/story/u-s-weekly-jobless-claims-retreat-in-latest-week-11669902096?mod=economic-report   4 - https://www.marketwatch.com/story/powell-says-pace-of-interest-rate-increases-can-slow-as-soon-as-december-meeting-11669833150?mod=economy-politics   5 - https://www.marketwatch.com/story/u-s-pending-home-sales-drop-for-fifth-straight-month-in-october-11669820442?mod=economy-politics   6 - https://www.spglobal.com/spdji/en/indices/indicators/sp-corelogic-case-shiller-us-national-home-price-nsa-index/?utm_medium=next_gen&utm_source=google&utm_campaign=paid_campaign&utm_term=home&price&index&utm_content=Intl_Indicators&gclid=Cj0KCQiA4aacBhCUARIsAI55maGtTBygJMpl-CDDyORMbYFhSWa8LQMT5KwodBWyhjCuvr2tjC4rUFIaAoG8EALw_wcB#overview   7 - https://www.freddiemac.com/pmms   8 - https://www.mortgagenewsdaily.com/news/11292022-conforming-loan-limits-loan-limits-fhfa-case   9 - https://www.fhfa.gov/DataTools/Downloads/Documents/Conforming-Loan-Limit/FullCountyLoanLimitList2023_HERA-BASED_FINAL_FLAT.pdf   10 - https://www.nytimes.com/2022/12/01/realestate/rising-rent-us-cities.html 11 - https://calculatedrisk.substack.com/p/rents-falling-faster-than-seasonality

The report from the Federal Housing Finance Agency also shows that the trend is growing. Also, car prices that shot up drastically during the pandemic are starting to come down … just a bit. Then, we check in on the “care economy” and discuss what can help it.

The report from the Federal Housing Finance Agency also shows that the trend is growing. Also, car prices that shot up drastically during the pandemic are starting to come down … just a bit. Then, we check in on the “care economy” and discuss what can help it.