Biden picks Chopra, Gensler for financial oversight roles
President-elect Joe Biden is set to nominate Rohit Chopra as the director of the Consumer Financial Protection Bureau, tapping a progressive ally of Sen. Elizabeth Warren to helm the agency whose creation she championed.
Consumer Financial Protection Bureau Sues 1st Alliance Lending, LLC and Its Principals for Alleged Unlawful Mortgage Lending Practices
Today, the Consumer Financial Protection Bureau (Bureau) filed a lawsuit against 1st Alliance Lending, LLC, John Christopher DiIorio, Kevin Robert St. Lawrence, and Socrates Aramburu for allegedly engaging in various unlawful mortgage-lending practices. 1st
MIG Market Watch, Week of January 18th, 2021
Mortgage bond prices finished the week lower which put upward pressure on rates. Rates worsened sharply Monday and Tuesday in continuation of the recent rate spikes. The selling pressure reversed course the latter portion
Wild and Crazy Year?
Apologies to Steve Martin. We were hoping that 2021 would not be as wild and crazy as 2020. Yet the first few days of January was anything but calm. We started with spikes of
First New-Listings Decline in 5 Months Portends a 2021 Housing Frenzy to Rival 2020
Redfin reports that new listings fell 3%, the first annual decline since July even as pending sales were up 35%. The median home sale price increased 14% year over year to $320,025, according to a
Rocket Community Fund donates more than $500,000 to Habitat for Humanity to support housing stability during the COVID-19 pandemic
The recent donation commemorates Rocket Community Fund's sixth year supporting Habitat's neighborhood revitalization efforts Today the Rocket Community Fund, the philanthropic arm of Rocket Mortgage, the nation's largest mortgage lender, announced a donation of $545,000 to
Freddie Mac Announces Pricing of $405 Million Multifamily Small Balance Loan Securitization
Freddie Mac (OTCQB: FMCC) announces the pricing of the SB82 offering, a multifamily mortgage-backed securitization backed by small balance loans underwritten by Freddie Mac and issued by a third-party trust. The company expects to issue
December New Home Purchase Mortgage Applications Increased 42.2 Percent
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for December 2020 shows mortgage applications for new home purchases increased 42.2 percent compared from a year ago. Compared to November 2020, applications increased
Fannie Mae Multifamily Closes 2020 With Record Volume of $76 Billion
Fannie Mae Fulfills its Mission in Supporting the Multifamily Market Amid Pandemic-Driven Disruptions to Economy and Financial Markets Fannie Mae (OTCQB: FNMA) provided $76 billion in financing to support the multifamily market in 2020, the highest volume
Home Prices Rose 13% in December, Sales Up 16%
Pending-sales growth of 35% far outpaced that of new listings, up 14% The national median home-sale price rose 13% year over year to $334,300 in December, according to a new report from Redfin (www.redfin.com), the technology-powered real estate