Recent Posts

Are We Heading for 2008 2.0? Not So Fast 

Mark Calabria is in a familiar position: at odds with the broader world of housing market policymakers and analysts. The former director of the Federal Housing Finance Agency, made headlines last week by saying there is a “ticking time bomb” in the mortgage industry that harkens back to the housing bubble of the mid-2000s.  During an

Fratantoni: Why FHFA and GSEs Should Revisit Their Pricing Framework

Potential homebuyers in today’s market are facing a number of challenges, including increasing mortgage rates and a sizeable supply and demand imbalance that is pushing home-price appreciation to very high levels throughout the country. MBA’s Purchase Application Payment Index (PAPI) has increased by 32% thus far this year, indicating that payments have risen much faster than

Fannie Mae Executes $21B CIRT on Single-Family Loans

Fannie Mae announced the execution of its fifth Credit Insurance Risk Transfer (CIRT) transaction of 2022 in the amount of $21 billion.  Effective April 1, Fannie Mae will retain risk for the first 65 basis points of loss on the $21 billion covered loan pool. If the $136.2 million retention layer is exhausted, 22 insurers

President Biden Announces New Actions to Ease the Burden of Housing Costs

New Biden-Harris Administration Housing Supply Action Plan To Help Close the Housing Supply Gap in Five Years As President Biden said last week, tackling inflation is his top economic priority. Today, President Biden is releasing a Housing Supply Action Plan to ease the burden of housing costs over time, by boosting the supply of quality

Fannie Mae Earns ENERGY STAR Recognition for 2022 Environmental Sustainability Achievements

Multifamily and Single-Family Businesses Recognized for Positive Impact in Green Financing WASHINGTON, May 6, 2022 /PRNewswire/ — Fannie Mae (OTCQB: ) today announced it earned the 2022 ENERGY STAR® Partner of the Year – Sustained Excellence Award from the U.S. Environmental Protection Agency and U.S. Department of Energy. ENERGY STAR recognized Fannie Mae’s Multifamily business for the

MBA: 1st Quarter Mortgage Delinquencies Decrease

The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 4.11 percent of all loans outstanding in the first quarter, the Mortgage Bankers Association’s National Delinquency Survey reported. The delinquency rate decreased 54 basis points from the fourth quarter and fell by 227 basis points from one year

FHA Amends CWCOT Post-Foreclosure Sales Rule

The Federal Housing Administration (FHA) has issued its Mortgagee Letter (ML) 2022-08, “Expanding Affordable Housing Supply Through FHA’s Claims Without Conveyance of Title.” By issuing ML 2022-08, the FHA will be adding an initial 30-day exclusive sales period for Claims Without Conveyance of Title (CWCOT) post-foreclosure sales for owner-occupants, HUD-approved non-profits, and governmental entities. The

FEMA Major Disaster Declaration – New Mexico Wildfires and Straight-line Winds

FEMA has issued a Major Disaster Declaration for the state of New Mexico to supplement state and local recovery efforts in the areas affected by wildfires and straight-line winds beginning on April 5 and continuing.  The following counties have been approved for assistance: Individual Assistance: Colfax Lincoln Mora San Miguel Valencia Public Assistance: Colfax Lincoln

FEMA New Mexico Calf Canyon Fire Assistance Declaration

FEMA has issued a Fire Management Assistance Declaration for the state of New Mexico to supplement state, tribal and local recovery efforts in the areas affected by the Calf Canyon Fire on April 20, 2022.  The following counties have been approved for assistance: Public Assistance: San Miguel New Mexico Calf Canyon Fire (FM-5438-NM) Zip Codes